India among most promising countries for developing disruptive technologies: KPMG

According to report published by KPMG, around twice as many global technology company leaders believe that hubs are still important in driving technology innovation as opposed to those who believe they are not.

Around 39% of the respondents out of the >800 industry leaders surveyed believe that the  ‘hub’ cities including London, Singapore, and Tel Aviv will continue to play a vital role, enabling talent to coalesce and collaborate in communities with a solid digital infrastructure. And 22% believe that hubs are no longer important.

As per the report, though Covid-19 has rapidly accelerated new ways of working but the world’s ‘technology hubs’ are here to stay although they may not be in Silicon Valley.

Though many offices and downtown areas were locked in early 2020 and entire workforces shifted to remote working with few employees leaving major cities to find more space at a lower cost among other factors; but as per the report, the tech leaders believe the industry’s future success will rely on a balance between physical workspace and greater flexibility.

India was ranked third in the list of countries and jurisdictions that show the most promise for developing disruptive technologies and Bengaluru was ranked at eighth position among the top 10 cities.

As per Mr. Alex Holt, Global Head of Technology, Media and Telecommunications at KPMG the engineering talent and intellectual property are the lifeblood of the tech industry and retaining top talent is a strategic imperative. Employers know this and are striving towards flexible work arrangements including permanent hybrid workforce models. As the workforce disperses geographically, new hotbeds of technically skilled workers will emerge.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.