Here in India, it's a wide mystery why most startups prefer to headquarter in Bangalore. It made sense two decades ago but today there are several other Indian cities like Vizag, Nasik, Noida, Gurugram, Chandigarh, etc. which are more equipped, have better infrastructure and even lower cost of living. Still most folks prefer Bangalore just because it has been like that since ages and popularly called the "IT Hub". But logically, it doesn't make any sense at all!
It's a chicken & Egg problem. I run a startup in Pune, and we just don't get good developers here. We are open to remote, and most of the good candidates are in Bangalore.
Nobody in their right mind would ever setup an office in Delhi or adjacent regions. The office politics alone should deter half of the people. The rest is taken care of by the increased crime rate, pollution and attitude of people.
Vizag, Kochi, Pune, Chandigarh etc are all much better cities. In both the kind of people they attract as well as the overall quality of developers.
