At 8.5%, Bengaluru to grow far faster than Mumbai, Delhi

BENGALURU: The Bengaluru Innovation Report, released by IT-BT Minister Priyank Kharge on Wednesday, says Bengaluru is set to grow annually at 8.5% till 2035, far ahead that of Mumbai (6.6%) and Delhi (6.5%). Bengaluru hosts 40% of Indias Global Capability Centres (GCCs), the highest in the country, and it is projected to double by 2029. The report highlights why global tech giants are choosing Bengaluru to become the AI-Quantum Computing hotspot of India. As per the report there is a corporate cost advantage because the median annual salary of a software professional in Bengaluru was $12,000, which is substantially lower than its international peers. The cost of office space rent in Bengaluru is one third of that in Beijing. Additionally, 48% of the GCC talent pool in Bengaluru is engaged in high-end rolesengineering, research and development. Also the city has the most affordable housing and is the cheapest among leading global startup ecosystems in terms of cost of living. The report states that Bengaluru is Indias tech talent engine as it is the tech and human capital centre of the nation. The report says that women-led startups have prospered in Bengaluru-- the total capital raised by them in Bengaluru stood at $ 13.4 billion, the highest among all cities in India. Bengaluru is now the worlds fifth-largest unicorn hub. Of the 122 unicorns in India cumulatively valued at $ 353 billion, a total of 53 unicorns (startups valued at $ 1 billion) are from the city. Their combined valuation is estimated at Rs 1.70 lakh crore ($192 billion). Bengaluru-based unicorns contribute 42% of Indias total unicorn valuation. Bengaluru is also attracting soonicorns startups on the path to becoming unicorns like a magnet. The city is home to 39 soonicorns, ahead of Delhi-NCR (30) and Mumbai (21), reflecting Bengalurus dominance in nurturing world-class tech talent. GBA CHIEF OUTLINES CITYS NEW GOVERNANCE MODEL Bengaluru: At an interactive session during the Bengaluru Tech Summit, Greater Bengaluru Authority (GBA) Chief Commissioner Maheshwar Rao joined Venk Krishnan, Founder & CEO of NuVentures, for an interaction on the citys governance, traffic challenges and future liveability. Krishnan acknowledged the citys remarkable global pull despite its infrastructure strain. People from all over the world want to move herefor the ecosystem, the warmth of the people, and the weather, he said, adding that even unicorn founders frustrated with traffic rarely relocate outside Bengaluru. Rao outlined the new administrative structure, created to make governance more agile. Bengaluru, earlier managed by a single municipal corporation, now has five corporations supported by the GBA, chaired by the Chief Minister. Coordination was our biggest gaproads repaired one day would be dug up the next. The GBA ensures all civic agencies work in harmony, he said. Addressing congestion, Rao said Bengaluru has 1.2 crore registered vehicles, with thousands added daily, making expanded public transport the citys best strategy. Indra S INFOSYS NAMED IT RATNA OF KARNATAKA Bengaluru: Karnatakas leadership in the IT and IT-enabled services (IT/ITES) sector was reaffirmed with the announcement of the Software Technology Parks of India (STPI) IT Export Awards for FY 2024-25. Infosys Litd received the highest honour -- the IT Ratna of Karnataka -- awarded to companies with exports exceeding Rs 15,000 crore. In the IT Pride of Karnataka category, recognising IT/ITES companies with exports between Rs 5,000 crore and Rs 15,000 crore, 13 leading global and Indian technology firms were honoured. Q-CITY TO TAKE SHAPE IN HESSARGHATTA BY 2028 BENGALURU: Indias first Quantum City will be set up in Hessarghatta with an investment of Rs 1,000 crore. The ground work for the greenfield project will start in 2026 and is likely to be completed by 2028. Speaking at the sidelines of the launch of the project concept, at the second day of the three-day long Bengaluru Tech Summit-2025, Prof Arindam Ghosh, Department of Physics, IISc, said, the city will have residential, office and education spaces. A dedicated quantum road map is being prepared detailing the timeline for the execution of each project. A committee of experts is also being created, he added. Ghosh is the technical committee head of the Quantum Summit. IISc is helping the state government in implementing the project. The first Quantum Research Park was set up in IISc in 2022. He said the Quantum City is being set up emulating the one in Switzerland as well as including best practices from other countries. Science and Technology Minister NS Boseraju held a Quantum Technology Round Table discussion with industry experts, stakeholders and IT-BT Minister Priyank Kharge ahead of the release of the landscape plan. Bosky Khanna