Washington: Though a big gap still exists between emerging markets and developed nations, India and China are coming up fast as new tech powerhouses which will drive much of the growth in information technology over the next ten years.

However, the gap is bound to narrow over the next decade, a magazine said citing a recent Global Information Technology Report by the World Economic Forum.

Out of 138 countries tracked and ranked by widespread use of mobile phones, Internet, personal computer as well as regulatory environment and IT infrastructure, China ranks 36th and India 48th.

Among other high-scoring Asian countries, Singapore excelled in second place while Taiwan checked in at sixth, Korea came in 10th and Hong Kong 12th.

Last year, India and China also accounted for 13 per cent of the USD 37.7 billion venture capital investment into startup and emerging companies globally, the magazine said citing Dow Jones Venture Source.

China investment jumped 59 per cent to USD 4 billion while India weighed in with a 14 per cent increase to USD 895 million-both higher than the 11 per cent spike for the US at USD 26.2 billion.

(Agencies)