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Innovative it clusters: The Bangalore case

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Chapter Summary

In the 1980s because of the rising rent and land prices in Mumbai, an influx of industrialists relocated the high-technology parts of their businesses to Bangalore. The Singapore consortium faced more hurdles in terms of the approvals needed and the different management styles encountered in India during the construction of the Bangalore IT Park, which further delayed its completion. The problems indicated that the marketing of the Bangalore Information Technology(IT) Park was responsible for allowing potential investors to renegade on their verbal promise to occupy the Bangalore IT Park. The marketing woes of the Singapore consortium were aggravated by the Asian economic crisis in 1998 that burdened the consortium and the Tata Group with punishing interest rate payments. The underlying rationale for Singapore to launch its regionalisation plans to create an external economic wing is linked to its strategic plans to be a global hub for businesses, services and transportation.

Keywords: Asian economic crisis; Bangalore information technology(IT) Park; marketing; Mumbai; regionalisation plans



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