India and China rank second globally as hubs for technology innovation, according to a survey conducted by consultancy firm KPMG.
US has topped the global chart, it added.
“India’s climb to the second position in the survey rankings lends credence to how we as a country are committed towards setting up strong innovation ecosystems.
“Bengaluru’s entry in the top 10 rankings, is another sign that the city is doing well in the areas of modern infrastructure, attracting skilled talent, investment fundings etc,” Satya Easwaran, Head – Markets Enablement & Technology, Media and Telecom, KPMG in India said in a statement.
KPMG surveyed 810 technology industry leaders globally for the study.
“With the potential innovation headwinds China is now facing, and US policies encouraging more tech professionals to return to or remain in India, the future bodes well for Indian innovation.
This is bolstered further by the urbanisation and younger demographic trends that are moving in the right direction, along with the increase in venture capital that India has seen in the last two years,” the report said.
The ranking was decided on the basis of scores given for availability of modern infrastructure, including high speed bandwidth, urban locale that attracts young professionals, at least one research intensive university, availability of investment funding, and pipeline of skilled talent.