Bangalore is the fifth largest city in India. With a current population of 10,839,725 people, this city is one of the fastest growing metropolitan cities in South India. This wonderful city is officially known as Bangalore. In recent years, it has become a hub for several thriving high-tech industries. With numerous developments and continuous progress, this city represents the modern face of the developed Indian economy.
IT industry
Due to immense growth in the information technology sector, Bangalore is now referred to as the ‘Silicon Valley of India’. A large number of national and international information technology companies have established their operations in this city. Some of the top tier IT companies in Bangalore are:
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IBM
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Dell
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Intel
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Accent
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Oracle
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SAP Laboratories
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Wipro etc.
Due to the constant growth of the IT sector over the years, this city has managed to attract more than 470 investment projects. In addition, several migrants from all over the country have begun to head towards this city in search of work. According to a study published by the New Delhi Policy Research Center in 2013, more than 48% of immigrants in Bangalore are college graduates and postgraduates.
Real estate
Not only the IT sector but also the real estate market in Bangalore has been growing at an average rate of 5%. An overall growth of 9% has been recorded in the western and southern regions of Bangalore during Jul-Sep 2014. Currently, various infrastructure projects like civic infrastructure, road development and much more are in progress and keeping strong. the real estate market. In this city.
The information technology industry is the key influencer for the growing demand for housing in the city of Bangalore. Numerous IT companies have already established their offices in the east. Many new companies are now expanding north and south to establish their offices there.
According to a London-based global management consulting group, Bangalore, followed by Mumbai and Kolkata, ranks among the top 3 most popular metropolitan cities in India. All 3 of these cities are among the fastest growing cities in the AT Kearney Global Cities Index. These cities have shown continued improvement in their scores for information sharing, human capital, business activity, and several other key metrics. Being the tech hub of India, Bangalore has become a magnet for the country’s tech talent.
The growing demand for talent is having a positive impact on salaries. A 15% growth in remunerations is expected in the short term. Also, several clusters in Bangalore will attract the best salary growth rates, especially IT with 14.7% growth, Healthcare and Pharmaceuticals with 13%, etc.