According to a recent report by Deloitte India and Nasscom, India’s technology landscape is undergoing a significant transformation. The report sheds light on 26 cities with immense potential and explores five key areas: talent, infrastructure, risk and regulatory environment, start-up ecosystem, and social and living environment.
India is rapidly emerging as a ‘Digital Talent Nation’ and is taking the lead in the race to become a global digital technology hub. The decentralization of work has opened up new avenues in emerging cities, which boast highly skilled professionals in digital technologies. These cities offer a cost advantage, with lower talent pool costs and real estate rentals compared to established tech hubs.
The economic advantage has attracted over 140 Global Capability Centers (GCCs) to these locations. Tier-2 cities have become breeding grounds for innovation, fostering a symbiotic relationship between start-ups and established corporations. This thriving ecosystem has generated a significant number of jobs and magnetized a large number of start-ups.
The report highlights the immense potential for exponential growth in these emerging hubs. The government and corporate sectors are collaborating to improve the ease of doing business in these cities, with initiatives like Skill India providing practical technical training.
With substantial investments in infrastructure and the upcoming rollout of 5G, India’s digital transformation story is gaining momentum, offering boundless opportunities for innovation, employment, and a brighter future.