Bengaluru is scaling up its ranks worldwide. It has been adjudged third in the list of top 10 aerospace cities in the world, according to a recent FDi Intelligence in its 2020-21 ranking.
It is the only Indian city to make it to the list of the top 10 compiled by FDi Intelligence, a body known for promoting Foreign Direct Investment (FDI) across the world.
Air Passengers Association of India (APAI) fortnightly newsletter – September 2020 said that with the ever-growing aerospace job sector fully bolstered by foreign investments from international companies, Bengaluru deserves that covetable position.
“It amplifies that it is not only in the ICT segment, the city is making its grade, but in aerospace as well. Experts feel that this trend would pick up in the future since a number of new facilities would come up around that time,” APAI said.
Significantly, the city has moved up one notch compared to the previous rankings. The city occupied only the fourth place last year. The credentials attributed to the city are impeccable. It is boasting an estimated total of more than 7000 aerospace FDI jobs created between 2015 and 2019.
Also, the city has the presence of major international aerospace companies, such as the UK-based Rolls-Royce Holdings and Liebherr Aerospace, part of Switzerland-based Liebherr. Boeing announced in 2018 plans to set up a US $ 156 million electronic manufacturing facility in its Bengaluru tech hub, creating 2,600 jobs.
Singapore topped the ranking followed by London. The other cities to make it to the top 10 list are Paris, Shanghai, Amsterdam, Dubai, Beijing, Dublin and Hamburg. FDi Intelligence has collected data from 50 locations under five categories: Economic Potential, FDI Performance , Cost Effectiveness, Innovation and Attractiveness and Aerospace Connectivity.
A Bengaluru Mirror report said that the metropolis also occupied the third position in the aerospace cities FDI performance rankings behind Singapore and Dubai. Hyderabad and New Delhi topped the cost effectiveness category where Bengaluru was ranked seventh.