Bengaluru Emerges As The World's Fastest-Growing Technology Ecosystem, Mumbai In Sixth Spot: Report

Bengaluru Emerges As The World's Fastest-Growing Technology Ecosystem, Mumbai In Sixth Spot: ReportBengaluru Metro (representative image) (Facebook)

In a positive development, a research done by London & Partners, the Mayor of London's international trade and investment agency has recognised Bengaluru as the fastest-growing mature technology ecosystem in the world since 2016, reports Hindu Businessline.

The report lists Bengaluru at the top as fastest growing, followed by London, Munich, Berlin and Paris. These cities are then followed by Mumbai which has been ranked sixth globally.

The report notes that investments in Bengaluru grew 5.4 times from $1.3 billion in 2016 to $7.2 billion in 2020. Meanwhile, in the case of Mumbai which is also touted as the nation's financial capital, investments have grown 1.7 times from $0.7 billion to $1.2 billion.

Second, in the list, London has seen investments grow three times from $3.5 billion in 2016 to $10.5 billion in 2020.

Meanwhile, Bengaluru has been ranked sixth and Mumbai has been ranked at 21 position on the list of cities attracting the maximum share of the world's technology venture capitalist investments. The list is topped by Beijing, San Francisco, New York and Shanghai which are then followed by London at the fifth spot.