Bengaluru has emerged as the fastest growing technology center in the world. Investors have been fond of this city for years. The reason for this – easy availability of Tech Talent there. Bengaluru has been continuously developing since 2016 in terms of technology. It was revealed on Thursday by Dealroom.com, a London agency.
London is second
According to this report, London is second only to Bengaluru in this list. It is followed by Munich, Berlin and Paris. At the same time, Mumbai is the economic capital of India at number six. According to the report, investment in Bengaluru increased from $ 5.4 billion in 2016 to $ 7.2 billion in 2020. While Mumbai grew 1.7 times from $ 0.7 billion to $ 1.2 billion. The UK capital, London, recorded a three-fold increase between 2016 and 2020, rising from $ 3.5 billion to $ 10.5 billion.
Favorite city for business
Hemin Bharucha, India’s principal representative at London & Partners, says that Bengaluru and London have become the fastest growing technology hubs for investment. Both places are on the top of the investors’ priority list in terms of business. Bharucha said that London has strong business and investment ties with India’s cities. Today’s data suggests opportunities for participation in the tech sector between the UK and India in the future.
Bengaluru also ranks sixth on the global list in terms of technology venture venture capital (VC) investment. Beijing and San Francisco are in first place in this list. They are followed by New York, Shanghai and London. Mumbai ranks 21st in this list.