Richard Florida, author of "Flight of the Creative Class: The new global competition for talent" summarizes in New Scientist (subscription required for full article) that the bulk of the world's patents originate in a handful of cities - Tokyo, San Francisco, Berlin. He says Bangalore and Shanghai still do "relatively little at the cutting edge".
It is in line with my POV here that China and India will take a while to really get in to innovation as against utility products.
What's interesting from a public policy perspective is the discussion on what makes these centers attract and sustain talent to become the innovation hubs. Something Bangalore and Shanghai planners will undoubtedly read.