KNOWLEDGE ECONOMIES AND URBAN INEQUALITIES: A CASE OF BENGALURU CITY

Abstract

The phenomenon of globalization has ushered in a connected world, facilitating the rise of multinational corporations and the rapid integration of economies. This shift, fueled by technological innovation, has transformed the way we procure goods and services, transitioning from physical market segregation to convenient, technology-driven delivery systems. As a result, economies have shifted towards service-oriented structures, with a focus on fulfilling consumer needs efficiently. India's embrace of knowledge-based economies, particularly in IT/ITES, education, and R&D, has led to the emergence of urban "Knowledge hubs" or clusters, driving significant economic growth. However, this urbanization trend presents challenges such as inequality and gentrification, underscoring the need for inclusive urban planning strategies. As the future of our urbanisation would be centred more around these knowledge hubs, the aim of this study is to evolve inclusive urban development strategies with objectives to study and prove the existence of a nexus between the growth of knowledge economy and inequalities in the urban study area, the patterns of the spatial inequality and studying various models and policies aimed at inclusive urban development leading into the above mentioned aim. The literature reviews bring out the various aspects of the main terms on which our study is based on “Knowledge economy and urban inequality”. The case studies give a clear picture on the dynamics of the interrelationship between them. The study area chosen is the city of Bengaluru, known as the silicon valley of India. The study area profile gives a clear cut picture of the various aspects of the city with special focus on the knowledge economy and the service sector industries.