Once again Namma Bengaluru has risen as the world’s fastest-growing mature tech ecosystem in the world, London, Munich, Berlin, Paris, and Mumbai has gained a sixth-place according to new research released in London on Thursday. The Mayor of London’s international trade and investment agency has revealed that investment in the Karnataka capital of Bengaluru grew 5.4 times from USD 1.3 billion in 2016 to USD 7.2 billion in 2020, with the Maharashtra capital of Mumbai growing 1.7 times from USD 0.7 billion to USD 1.2 billion in the same period.
Bengaluru ranked sixth for the world’s tech venture capitalist (VC) investments, on a global list topped by Beijing and San Francisco, New York, Shanghai and London making up the top five. Mumbai comes in at No. 21 in the worldwide ranking, with Boston and Singapore among the other high-ranking cities.
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Hemin Bharucha, Chief Representative of India said that it’s fantastic to see Bengaluru and London ranked as the top two fastest-growing global tech hubs. He also conveyed that these two great cities will share mutual strengths in entrepreneurship and innovation – creating lots of opportunities for tech investors and companies to do business across both regions.
He also added, London has a strong trade and investment relationship with cities across India and today’s figures show the opportunities for future partnerships between UK and India on technology. Despite the pandemic, tech companies in London and India are continuing to lead the way in creating game changing technologies – especially in high growth sectors such as EdTech and Fintech.
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