&w=3840&q=100)
Explained: Bengaluru ranks with San Francisco, Tokyo as global AI hotspot
CBRE, leading real estate consulting firm, released its latest report, 'Global Tech Talent Guidebook 2025', highlighting global tech talent dynamics across 115 markets. Through a comprehensive analysis, the report evaluates these markets based on the availability, quality, and cost of tech talent and classifies them into three categories: Powerhouse (12 markets with large, deep, and highly competitive talent pools), Established (63 mature markets with consistent talent pipelines), and Emerging (40 growth-focused markets with improving capabilities). The report identifies Bengaluru as among the top 12 global tech powerhouses, alongside leading markets including Beijing, Boston, London, New York Metro, Paris, San Francisco Bay Area, Seattle, Shanghai, Singapore, Tokyo and Toronto.
Bengaluru is the largest tech talent market in the Asia-Pacific region, along with Beijing and Shanghai, with its tech workforce exceeding 1 million, noted the report. This makes the city a critical node in the global technology and innovation landscape.
The report underscores Bengaluru's leadership in AI development talent, stating that it has the most AI-related professionals in India, placing it on par with established US clusters like San Francisco and New York. In terms of demographics, Bengaluru ranks 4th among the 12 tech powerhouse markets in share of working-age population, with 75.5% of its population falling in the working-age bracket. Moreover, the city recorded a 2.4% growth in working-age population between 2019 and 2024, making it one of the fastest-growing globally in this segment.
"The city's startup ecosystem, supported by 28 unicorns, benefits from favourable business regulations and strong institutional support. A key driver of its growth is the presence of leading educational institutions and Global Capability Centres (GCCs), which contribute to a steady pipeline of skilled talent and anchor high-value functions in AI, data science, engineering, and product development. These factors have powered a 12% increase in tech employment between 2018 and 2023, aligning with global growth trends," added the report.
In 2024, Bengaluru attracted 140 VC deals worth $3.3 billion, including 34 deals in AI, solidifying its status as a top global destination for AI innovation and investment.
Beyond Bengaluru, the report highlights the rising momentum in other Indian cities including Ahmedabad and Jaipur. According to the report findings, Delhi-NCR closed 183 VC deals totalling $1.9 billion, including 42 in AI, and continues to foster innovation through its 15 unicorns and 16 IPOs. Mumbai followed with 167 deals worth $4.9 billion, including 26 in AI, backed by 7 unicorns and 47 IPOs, making it one of India's most capital-rich tech corridors.
Meanwhile, Ahmedabad and Jaipur have emerged as high-potential, cost-effective tech markets. Ahmedabad's growth in software, IT services, and fintech is further bolstered by infrastructure projects like the 22 million-sq.-ft.
Gujarat International Finance Tec-City (GIFT City) is set to house 550 companies and employ over 20,000 people. Jaipur, with its strong education base and favourable cost structure, is attracting a mix of startups and domestic IT services firms, especially those seeking an edge over pricier hubs like Delhi-NCR
'The tech sector has traditionally been an accelerator of economic transformation, as businesses and consumers increasingly rely on new and improved tech products and services. It has become a larger part of the global economy and has driven innovation and collaboration across geographic boundaries. Companies worldwide are looking farther afield for more tech talent to deploy new, transformative technologies like artificial intelligence for operational efficiencies. Our analysis also provides insight into how the size and depth of each market's tech talent pool contribute to real estate demand," said Ada Choi, Head of Research -APAC, CBRE.
Key takeaways:
Tech Employment Growth and Funding: Despite a hiring slowdown, tech industry employment growth and venture capital funding remain robust. Artificial intelligence (AI) is a key driver, accounting for a record $129 billion in funding in 2024.
Asia-Pacific Dominates Tech Talent Markets: APAC leads in the size of tech talent markets, with Beijing, Bengaluru and Shanghai each boasting over one million tech workers.
AI Development Talent Concentration: The U.S. and India are the primary hubs for AI development talent and demand, while the fastest growth in AI talent is occurring in the U.S., Poland and Germany.
Labour and Real Estate are Top Expenses: Labour costs represent the largest expense for most non-manufacturing tech companies, followed by real estate.
Factors Driving Emerging Markets: Growth is being propelled by improved education, lower operating costs and an attractive quality of life. Remote work has further boosted emerging market talent.
Strong Long-Term Growth Outlook for Tech: Continued innovation is expected to fuel the next economic growth cycle, sustaining long-term demand for tech talent.
India's tech strength spreads beyond bengaluru
CBRE's report also highlights growing momentum in other Indian cities:
Delhi-NCR: 183 VC deals totaling ₹15,830 crore (USD 1.9 billion), with 42 in AI, backed by 15 unicorns and 16 IPOs.
Mumbai: 167 deals worth ₹40,900 crore (USD 4.9 billion), including 26 in AI, making it a top capital-rich tech corridor.
Ahmedabad: Supported by infrastructure like GIFT City, expected to house 550 firms and employ 20,000 people.
Jaipur: Leveraging its strong education base and lower costs to attract IT and startup activity.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
15 minutes ago
- Mint
India, New Zealand conclude second round of FTA talks in Delhi; third round set for September in Auckland
New Delhi: India and New Zealand have completed the second round of negotiations for a free trade agreement (FTA), with both sides registering progress across key sectors, the commerce ministry said in a statement on Friday. The discussions, which concluded on 25 July in New Delhi, focused on deepening trade and investment ties and reflected growing alignment on a range of commercial and regulatory issues. The third round is slated for September in New Zealand, the ministry said. The development comes a day after India and the United Kingdom signed a landmark free trade agreement, adding to India's growing portfolio of bilateral trade agreements, including those with Australia and the UAE. The latest talks between India and New Zealand were held from 14-25 July and saw advancement in several negotiating pillars, including trade in goods and services, investment, rules of origin, customs procedures, technical barriers to trade, sanitary and phytosanitary measures, and economic cooperation. Negotiators from both sides indicated that early convergence had been achieved on multiple texts, and virtual intersessional meetings will be held to sustain momentum until the next in-person round. The FTA discussions were formally launched during New Zealand Prime Minister Christopher Luxon's visit to India in March, when he met with Prime Minister Narendra Modi. Both sides announced the launch of negotiations for a free trade agreement as part of efforts to deepen economic cooperation amid growing concerns over a potential global tariff war triggered by US President Donald Trump's aggressive trade stance. Mint was the first to report on India exploring renewed FTA negotiations with New Zealand, in a report dated 26 June 2024. The first round of negotiations between the two countries began in May 2025 in New Delhi. The latest round of talks signals steady movement towards what officials described as a 'balanced, comprehensive, and forward-looking agreement'. India's merchandise trade with New Zealand reached $1.3 billion in 2024-25, up nearly 49% from FY24, albeit from a relatively modest base. Trade analysts said an agreement with New Zealand, while smaller in scale compared with India's deals with the UK and the EU, would help New Delhi stitch a more strategic Indo-Pacific trade network. 'New Zealand is a gateway to the Pacific and has a relatively high per capita import appetite,' said Abhash Kumar, a trade economist. 'A well-negotiated deal will give Indian firms a secure and rules-based market while opening possibilities for trilateral arrangements with Australia or ASEAN (Association of Southeast Asian Nations).' India is focusing on improving access for sectors such as pharmaceuticals, textiles, information technology services, and agri-products, while New Zealand is expected to push for gains in dairy, meat, wine, and education services.
Mint
15 minutes ago
- Mint
FTA to bring modest dip, not a steep dive, prices of UK spirits
NEW DELHI : Indian consumers hoping for the prices of their favourite UK whiskies to drop dramatically after the free-trade agreement need to temper their expectations. The India-UK Comprehensive Economic and Trade Agreement (CETA), officially signed this week, will reduce the current 150% customs duty on spirits by half to 75% once the agreement comes into force, with a further reduction to 30-40% over the next 10 years. This applies to both 'bottled-in-origin' (BIO) spirits and bulk imports used by Indian manufacturers for blending with Indian made foreign liquor (IMFL). The UK wines and beers are exempt from the deal. Industry analysts and company executives suggest the immediate impact on retail prices will likely be modest, with reductions estimated between single digits and 10-15%, largely because import duties currently make up only 10-15% of the total shelf price. Margins still key to retail price 'While this (reduction in duty) is a notable move, its impact on retail prices will be modest in the near term," said Naveen Malpani, partner and consumer & retail industry leader at Grant Thornton Bharat. 'Import duties contribute only a fraction of the final price, with state excise, logistics, and distributor margins forming a large share of consumer cost." Grant Thornton Bharat estimates retail price drops in the range of ₹100–300 per bottle (8–10%) for premium Scotch. Also Read: India-UK FTA uncorks new promise for imported scotch and gin Ardent Alcobev Pvt Ltd, which sells Dram Bell—a blended Scotch whisky, bottled in origin—said the move is 'positive" and will enhance accessibility and affordability for Indian consumers. "The real benefit will depend on how quickly the duty reductions are implemented and whether the states align their tax structures accordingly," said Debashish Shyam, co-founder and director. 'While the final impact on retail pricing will vary by state due to local excise structures and channel margins, this duty reduction has the potential to bring down consumer prices by 10–15% over time." In a state like Maharashtra, for instance, where Dram Bell is already priced competitively—only marginally above premium IMFL—this development could further narrow the price gap and enhance accessibility. New markets for smaller players The move is also helping smaller players get into the market. 'This move will dramatically reduce cost for us and shake up the market, making entry and access easier," said Nishant Sharma, founder of Rutland, a UK-based spirits company that sells gin and rum bottled in Scotland. Once in full effect, a bottle of the brand's gin could cost ₹4,000 from ₹6,000. 'Launching a product like ours into the Indian market is a huge cost, because of the 150% duty. This gives us a small crack to enter the market," he said. Also Read: ITC bets on new growth engines, expands food-tech and wellness play The company sells its brand via airports with plans to expand in the top cities by later this year. Scotch dominates imports India, one of the world's largest alcohol markets, sells over 400 million cases of Indian alcoholic spirits annually. Yet imported spirits–bottled in origin and bulk bottled in India–account for 2.6 % of the total market. The imported category is dominated by whisky, with Scotch being around 81% of the overall imports of 9.9 million cases of alcoholic spirits, according to estimates by International Spirits and Wines Association of India or ISWAI. To be sure, 79 % of the Scotch imported into the country is in bulk form, which is used for bottling in India and for blending by local brands of whisky in the IMFL category. William Grant & Sons, Allied Blenders & Distillers and Bacardi declined to offer comments on the development. "Customs duty as part of the total MRP is hardly 20%, and if that even comes down by half, the MRP won't change dramatically. It won't immediately and dramatically change prices for everyone," said an industry executive speaking to Mint on the condition of anonymity. Also Read: Nestlé India Q1 profit falls on higher input, finance costs The person quoted above expects a single-digit percentage drop in prices. Pricing is also dynamic and dependent on how the pound fares next year, freight costs, etc. Meanwhile, the change could take a few months. Impact on Indian makers The FTA needs to be ratified by both parliaments, then notified in custom schedules, earliest by January 2026, said a spokesperson for spirits company Radio Khaitan. However, for Indian liquor makers, the duty reduction on bulk Scotch imports provides some advantage. "We export a lot of IMFL into the Middle East, Africa—for them, there are a lot of big benefits. The move will improve the quality of our IMFL exports," the person quoted earlier told Mint.
Time of India
15 minutes ago
- Time of India
ETtech Deals Digest: Startups raise $460 million in July so far, down 47% on-year
Startups across seed, early, and late stages raised the funds through 80 deals, compared to 161 in the year-ago month. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Indian startups raised about $460.5 million in funding between July 1 and 25, marking a 47.3% decrease from the full month last year, when they had raised a total of $874.2 million across 161 far this month, startups, primarily in the seed, early, and late stages, secured funding through 80 rounds, according to data from market intelligence platform contrast, May 2025 saw stronger momentum, with startups raising approximately $896.7 million across 74 week—from July 19 to July 25—funding stood at $211.3 million, accounting for nearly half of the month's total so messaging platform Gupshup raised $60 million, with the majority in the form of equity funding from venture capital firm Globespan Capital Partners and the rest as debt from EvolutionX Debt diagnostics services firm MedGenome raised $47.5 million in a funding round co-led by private equity firm Maj Invest, along with investment firms Novo Holdings and payments firm PayU received a capital infusion of $35.1 million from its parent, Prosus, the Dutch-listed arm of South African technology investor computing startup QpiAI raised $32 million in a funding round led by Avataar Venture Partners and India's National Quantum artificial intelligence (AI) startup Composio has raised $25 million in funding led by Lightspeed Venture Partners . The round also saw participation from existing investors, such as Elevation Capital and Girish Mathrubootham's Together Fund, in addition to angel investors, such as Gokul Rajaram, Rubrik cofounder Sohum Mazumdar, HubSpot founder Dharmesh Shah, and others.
