The Modern Face of a Developing Indian Economy

Bangalore is the 5th largest city in India. With a current population of 10,839,725 people, this city is one of the fastest growing metro cities of South India. This wonderful city is officially known as Bengaluru. Over the last few years, it has become a hub for various thriving high-tech industries. With numerous developments and continues progress, this city represents the modern face of the developed Indian economy.

IT Sector

Due to an immense growth in the Information Technology sector, Bangalore has been now referred to as the ‘Silicon Valley of India’. A large number of international and domestic information technology companies have set up their operations in this city. Some of the top-notch IT companies in Bangalore are:

IBM
Dell
Intel
Accenture
Oracle
SAP Labs
Wipro, etc.

Due to the steady growth in the IT sector over the years, this city has managed to attract over 470 investment projects. Moreover, several migrants from all over the nation have started heading towards this city in search of jobs. According to a study published by the Center for Policy Research, New Delhi in 2013, over 48% of migrants to Bangalore are university graduates and post-graduates.

Real Estate Sector

Not only the IT sector but also the real estate market in Bangalore has grown at an average rate of 5%. An overall growth of 9% has been recorded in both the west and south regions of Bangalore during July-September 2014. Currently, several infrastructural projects such as civic infrastructure, road development and much more are in progress that are keeping the real estate market robust in this city.

The Information Technology industry is the key influencer for the growing housing demand in Bangalore city. Numerous IT companies have already set up their offices in the east. Many new companies are now expanding towards north and south to establish their offices out there.

According to a London-based global management consulting group, Bangalore, followed by Mumbai and Kolkata is amongst the 3 most popular metropolitan cities in India. All these 3 cities are among the rapidly growing cities in AT Kearney’s Global Cities Index. These cities have shown a continued improvement in their scores in information exchange, human capital, business activity and various other key parameters. Being India’s technology hub, Bangalore has become a magnet for technology talent in the country.

The growing demand for talent is leading to a positive impact on salaries. A growth of 15% in remunerations is expected in the near time. Moreover, various clusters in Bangalore will attract the best salary growth rates, especially IT with 14.7% growth, health care and pharmaceuticals with 13% and so on.

Do You Support the On-Going Revolutionary Process?

The University of Science and Technology in Kumasi had planned to celebrate the tenth anniversary of the founding of its Technology Consultancy Centre (TCC) on 11 January 1982, and the TCC Director had been invited to appear on national television for a half-hour interview.
Supported initially by non-governmental organisations (NGOs), like Barclays Bank International Development Fund, Rockefeller Brothers, Oxfam and Christian Aid, it proved possible to provide training and locally-made equipment to upgrade several grassroots industries carried on by numerous small enterprises.
The Technology Consultancy Centre had been founded in January 1972 to provide a means by which local industry could access the technical and scientific resources of the University.

After identifying the needs of several informal-sector industries including auto repair, soap making and cotton weaving, the TCC planned development projects and sought funding from international agencies.
The work of the Centre in promoting a large number of successful small-scale industrial enterprises had excited much interest and periodic media attention, but the excitement of the recent coup had swept aside all other considerations.
By 1981 the work of the TCC was supported by major international donors like the United States Agency for International Development (USAID), the Canadian International Development Agency (CIDA) and the UK Overseas Development Administration (ODA).

For example, by 1975 there were fifty small soap making enterprises using new technology and a few years later there were hundreds of beekeepers where none had been before.
At first, some sizeable contracts had been gained from government departments and large enterprises, but academics soon converted these to private consultancies to prevent the university taking part of the fee.
Major technology transfer projects were operating in Kumasi and at Tamale in the Northern Region and discussion was beginning of extending the programme to all ten regions of the country.

It was a tense moment for the English professor in the fervid atmosphere of revolutionary Ghana a few days after Jerry Rawlings’ second military coup on 31 December 1981.
It was perhaps surprising that the TV schedules had not been changed but the interview came on as planned.
The director travelled 250 kilometres to Accra to keep his appointment at the television centre.

However the TCC had already turned its attention to the grassroots to see what technology transfer could do at that level.
So in normal times there would have been much of general interest to discuss on TV, but these were not normal times.
His vehicle was stopped at several checkpoints, some manned by the military and others by personnel of the newly-formed People’s Defence Committees.
With much relief the director found himself questioned about the work of the TCC and the time passed quickly.