Bengaluru has become the hotspot for Fortune 500 giants, global companies to set up innovation centres

Fortune 500 companies and other multinational companies prefer to set up technology and innovation centres of India’s Silicon Valley, Bengaluru.

As per a report by tech consulting firm Capgemini, Bengaluru has become the fifth most preferred destination for global companies to set up their offices.

Bengaluru displaced Tokyo at the fifth spot on the list, which is ruled by Silicon Valley, London, Paris and Singapore.

Presently, Bengaluru houses offices of Apple, Visa, Uber and Airbus, etc. Even Chinese giant Alibaba is going to set up its India office in Bengaluru.

"India has been rising in the ranks of favourite destinations to open innovation centres. Our previous research identified eight innovation centres in India in July 2015. India has since seen eight more innovation centres open their doors. Bangalore has been the most favoured city with four new innovation centres," the report said.

Not only global, the southern city of Bengaluru also has Indian startups offices such as Flipkart, InMobi and Mu Sigma.

"Global firms are showing interest in other Indian cities as well. For instance, TriMas Corporation - a diversified global manufacturer of engineered and applied products - opened an innovation center in Delhi to focus on driving innovation across its range of packaging solutions, while Puratos, a leading global food ingredient company, launched an innovation centre in Mumbai," the report said.