Bengaluru makes it to top tech hubs list

India's knowledge capital Bengaluru has been named among the top 10 global innovation hubs in the world.

According to a report titled "The changing landscape of disruptive technologies", released by global advisory firm KPMG, Bengaluru shares the eighth position with Israel's Tel Aviv. The Chinese city of Shanghai is placed at the top, followed by Tokyo, London, New York, Beijing, Singapore and Seoul.

"Technology industry leaders were asked which three cities, in addition to Silicon Valley/San Francisco, will be the leading technology innovation hubs over the next four years. Unlike last year, when the US and China dominated the Top 10, this year's top 10 includes cities from the Americas, Asia, Europe and Israel," KPMG said in its report.

The tech focus in the IT capital of the country has propelled India to the third slot when it comes to disruptive technology breakthroughs that will have a global impact.

Out of 800 technology industry leaders globally, 13% rest their belief in India. The US (34%) and China (26%) are ahead of India in this race.

India is racing to become an innovation hub for global businesses, KPMG said.

Earlier, India moved up the rank to 60 on the Global Innovation Index (GII) in 2017 as compared with 66 in 2016.

Recognised as one of the emerging innovation centres in Asia, many large and global enterprises are opening innovation facilities here. Additionally, several global players have set up R&D centres in India.

In 2016, approximately 950 multinational corporations (MNCs) were in India and collectively set up 1,200 R&D hubs, according to consulting firm Zinnov's annual report on global in-house centres (GICs).

The report states that Indian startups are playing a crucial role in driving the innovation wave in the country as they continue to disrupt existing business models.

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