Economy of New York City bank with a permanent vote on the Federal Open Market Committee and its president is traditionally selected as the Committee's vice chairman. The bank also has the largest gold repository in the world, larger even than Fort Knox. Its vault is 80 feet (25 m) beneath the street and holds $160 billion worth of gold bullion. Silicon Alley, centered in Manhattan, has evolved into a metonym for the sphere encompassing the New York City metropolitan region's high tech enterprises involving the Internet, new media, telecommunications, digital media, software development, biotechnology, game design, and other fields within information technology that are
Silicon Valley of India Silicon Valley of India The Silicon Valley of India is a nickname of the Indian city of Bangalore. The name signifies Bangalore as a hub for information technology companies in India. It is a reference to the original Silicon Valley of the San Francisco Bay Area, which is the major hub for information technology companies in the United States. One of the earliest mentions of this sobriquet occurred in late 2012 by CNN. The more prevalent application of the nickname Bangalore began in the 1990s based on a concentration of firms specializing in research and development (R&D), electronics and software