Bengaluru is close behind Beijing as one of the top tech hubs across the Asia-Pacific, followed by Chennai, Hyderabad, and Delhi driven by talent and a sustained demand for quality office spaces from domestic and multinational companies, according to reports.

Globally, 46 top tech markets were identified from more than 115 tech cities in total and six of the 14 cities in the Asia Pacific region were in India.

The country has added more than 500,000 jobs in IT over the past financial year, as per reports.

Anshul Jain, MD, India & South East Asia says, “The IT and tech-driven sectors remain the key driving force for the Indian economy. The strong market fundamentals coupled with key policy changes have not only made India a favorable investment hub for global IT players but also made it the most sought-after destination to find global tech talents and set footprints for further expansion.”

Bangalore also saw the tech sector accounting for an average 38-40 percent share in annual leasing, higher than the national average of 35 percent.

Hyderabad, home to Microsoft and Facebook, has more than 44 million square feet of office projects under construction nationally.

Mahesh Khaitan, Director, Sattva Group says, “The demand has been stable so far. We expect to reach the 2019 commercial absorption level if the demand momentum is not hit by global financial turmoil.”

Gauri Shankar Nagabhushanam, CEO, India Business Parks, CapitaLand Investment says, “We are quite bullish about India. It's primarily driven by certain external and internal factors. While the COVID-19 pandemic was a dampener across the globe, the Indian IT services have benefited from it with close to one lakh people being recruited. So that is the internality which is pushing us and making us commit to the market.”