Technology companies prefer India’s Bengaluru and Gurugram as top 5 preferred destinations in the Asia Pacific (APAC) region to set up offices. Beijing, Singapore and Shanghai are also in the top five.
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The report by CBRE, a property consultant says the companies have attributed their preferred destinations to better business conditions, real estate for growth and availability of engineers. The report said the top 5 cities score highly in terms of business conditions and innovation environment, as well as providing costs and availability that are supportive for business growth.
“India is home to an increasing number of tech unicorns and Asia Pacific is increasingly defined as the region leading in the rapid adoption of disruptive technology.”
Anshuman Magazine, Chairman and CEO of CBRE India said there is still room for growth in terms of identifying locations where business conditions, innovation and talent come together to form a globally competitive digital hub. “The Asia Pacific is home to 8.4 million Science, Technology, Engineering and Mathematics (STEM) graduates, of out which 30 per cent are in India.”
Magazine said improved access to incubator and accelerator programmes and a vast pool of skilled IT talent based in Delhi-NCR and Bengaluru have supported the cultivation of new ideas.
The report also highlights Hyderabad in the list of five competent cities along with Hangzhou, Shenzhen, Tokyo and Seoul.