Bangalore

Survey: Bangalore on the Rise

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Oct. 24 – In a recent survey conducted by the Global Initiative for Restructuring Environment and Management (GIREM) and real estate consultancy firm DTZ, Bangalore has been ranked as India’s top business destination in terms of infrastructure, human capital, city culture and basic quality of living.

The survey includes a list of the 21 top business destinations throughout India, with Chennai (2), Mumbai (3), Pune (4), Indore (5th), Bhubaneswar (6), Coimbatore (7), Ahmedabad (8), Nagpur (9) and Kochi (10) rounding out the top 10.

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City Spotlight: Bangalore

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May 16 – You can easily observe India’s cultural diversity in Bangalore – the city is a melting pot of races and cultures. Located in the heart of southern India, Bangalore has a population of 8.4 million people, making it the third most populous city in India.

Bangalore is also known as the “Silicon Valley” of India thanks to the large number of software companies and the concentrated number of information technology (IT) professionals located within its territory. The state of Karnataka, of which Bangalore is the state capital, accounts for more than a third of India’s total software exports, most of which come from Bangalore-based firms. Bangalore’s booming high-tech sectors are supported by a well-educated and technically trained populace, particularly in the fields of engineering, management and various areas of science.

Bangalore, which ranked in the top 10 on India’s Liveability Index in 2012, is also called “The Garden City,” a moniker earned due to the large number of parks in the city, the city’s large horticulture industry and pleasant climate.

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India’s Top Six Cities – Free City Guides!

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Dec. 22 – Asia Briefing takes a closer look at India’s top six cities (by GDP) in the newly released Indian city guides for Mumbai, New Delhi, Kolkata, Bangalore, Chennai and Hyderabad. These city guides are available for free download on the Asia Briefing bookstore.

1. Mumbai
GDP: US$209 billion

Mumbai is the most populous city in India and in the top five in the world. While the 2011 census estimated population at 12.4 million, external estimates suggest double that.

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Court Ruling Says Payment in Kind Also Subject to Tax

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Aug. 4 – A recent Supreme Court decision has ruled that payment made in kind will also be subject to taxes in India.

This was based on an appeal made in court by local company Kanchanganga Sea Foods regarding its payment in kind to Hong Kong-based company Eastwide Shipping for lending the use of vessels and personnel. The Indian company gave Eastwide 85 percent of fish catch as payment. It was able to get its foreign partner official permission to fish in an Indian economic zone.

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Mahindra & Mahindra to Establish Special Economic Zone for Aerospace Sector

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Jul. 6 – Indian conglomerate Mahindra & Mahindra is in negotiations to establish a special economic zone (SEZ) targeting the aerospace sector industry.

The 250-acre SEZ will be located near Bangalore International Airport following a public private partnership model. M&M is not new to the aerospace industry. The company opened a component-making facility at Malur in Bangalore recently and also has two aircraft manufacturing companies in Australia.

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Monorail Manufacturers Concentrate on India’s Infrastructure Boom

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Apr. 12 – As the Indian economy develops, the need for massive improvements in its transportation network also increases.

With Mumbai’s first monorail service about to be launched and those familiar street level cantilevered rail lines now weaving their way above the city’s roads, other places in the country have already started taking notice. All three major monorail companies – Bombardier, Scomi and Hitachi – are setting up operations in India because of anticipated demand.

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Karnataka Considers Global Financial District

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Mar. 12 – Karnataka government is considering establishing a global financial hub in Devanahalli district located near Bengaluru International Airport.

Senior officials from 45 banks, insurance companies and mutual funds have expressed interest in the district according to state minister for large and medium industries Murugesh Nirani. “We are looking at a public private partnership or joint venture model for the district. We will provide the land and the companies would bear the infrastructure cost,” Nirani said in a statement.

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New Delhi Best City for Living

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Mar. 9 – The Confederation of Indian Industries has ranked New Delhi as having the best quality of life for its residents among all cities in the India based on their latest  “Liveability Index.”

After New Delhi, the next best cities to live in are Mumbai, Chennai and Bangalore. The survey looked at 37 Indian cities in over a decade to compute for a quality of life index. It also used hard data collected from reliable sources to eliminate the possibility of personal bias or a sampling error obscuring the reality.

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