India’s Silicon Valley Bengaluru has been ranked eighth in the top 10 cities list among leading technology innovation hubs outside Silicon Valley, San Francisco, in the next four years, states KPMG Report.
According to KPMG’s report, India is also ranked third in the list of countries and jurisdictions that show the most promise for developing disruptive technologies.
The annual report titled, “Technology innovation hubs”, surveyed more than 800 industry leaders and showed that COVID-19 has rapidly accelerated new ways of working, but the world’s ‘technology hubs’ are here to stay although they may not be in the Silicon Valley.
Commenting on the report, KPMG in India Partner and Head- Technology, Media and Telecom Satya Easwaran said India’s presence among the top three countries, for the second successive year, for promoting disruptive technologies proves the nation’s tremendous emphasis on developing well-organised technology hubs for fostering all-round economic growth.
“Despite the pandemic, India’s Silicon Valley — Bengaluru has been ranked eighth in the list of top ten world-class tech hubs,” said Satya Easwaran.
About 39% of industry leaders believe ‘hub’ cities including London, Singapore, and Tel Aviv will continue to play a vital role, enabling talent to coalesce and collaborate in communities with a solid digital infrastructure.
Only 22% believe hubs are no longer important. Nearly 80 per cent leaders said that they will not be downsizing their physical footprint, while only 26 per cent expected to hire predominantly remote talent.
The survey included 12 countries, and about two-thirds (66%) of the respondents were C-level executives. The data for this publication was collected from March 2021 to May 2021.