Has Bengaluru Stormed into the Top 12 Global Tech Powerhouses?

New Delhi, May 27 (NationPress) Bengaluru has secured its place among the top 12 global tech powerhouses, joining prominent markets in the United States, as highlighted in a report published on Tuesday.

The analysis by real estate consulting firm CBRE reveals that Bengaluru stands as the largest tech talent hub in the Asia-Pacific region, sharing this distinction with Beijing and Shanghai, boasting a tech workforce that exceeds 1 million. This positions the city as a vital center in the global technology and innovation landscape.

Bengaluru is now part of an elite group of cities, including Beijing, Boston, London, New York Metro, Paris, San Francisco Bay Area, Seattle, Shanghai, Singapore, Tokyo, and Toronto.

The report emphasizes Bengaluru's dominance in AI development talent, noting that it houses the highest number of AI professionals in India, placing it on par with established US tech hubs like San Francisco and New York.

Demographically, the Indian city ranks fourth among the 12 tech powerhouses in terms of working-age population, with 75.5 percent of its residents falling within this demographic.

Furthermore, the city has witnessed a 2.4 percent growth in its working-age population from 2019 to 2024, making it one of the fastest-growing areas globally in this segment.

Bengaluru's thriving startup ecosystem, supported by 28 unicorns, benefits from favorable business regulations and robust institutional backing. The presence of leading educational institutions and Global Capability Centres (GCCs) is a key factor driving growth by providing a continuous stream of skilled talent and anchoring high-value functions in AI, data science, engineering, and product development.

These elements have fueled a 12 percent increase in tech employment between 2018 and 2023, aligning with global growth patterns. This solid foundation, coupled with the tech industry's expansion, increased tech adoption, long-term growth prospects, and rising demand for tech talent, has resulted in substantial venture capital inflows, as per the report.

In 2024, Bengaluru attracted 140 VC deals totaling $3.3 billion, including 34 deals focused on AI, reinforcing its status as a premier global destination for AI innovation and investment. The city's blend of cost-effectiveness, deep talent pool, and long-term growth potential continues to allure both global investors and tech giants, the report indicates.

Beyond Bengaluru, the report also points out the growing momentum in other cities like Ahmedabad and Jaipur. According to the findings, Delhi-NCR completed 183 VC deals worth $1.9 billion, with 42 in AI, and continues to promote innovation through its 15 unicorns and 16 IPOs. Mumbai followed closely with 167 deals totaling $4.9 billion, including 26 in AI, boosted by 7 unicorns and 47 IPOs, establishing it as one of India's wealthiest tech corridors.

Meanwhile, Ahmedabad and Jaipur have emerged as promising, cost-effective tech markets. Ahmedabad’s expansion in software, IT services, and fintech is further enhanced by infrastructure projects like the 22 million square feet Gujarat International Finance Tec-City (GIFT City), set to accommodate 550 companies and employ over 20,000 individuals.

Jaipur, with its strong educational foundation and favorable cost structure, is attracting a blend of startups and domestic IT services firms, particularly those seeking a competitive edge over pricier hubs like Delhi-NCR, the report concluded.