Indian offshoring industry is looking to tap the $750 billion-a-year global engineering services industry.
India enjoys a relatively strong position in the automotive and high-tech telecom engineering services market with a $25 billion opportunity by 2020, according to a latest industry report. Aerospace offers the greatest potential for expansion – though it is also one of the toughest opportunities to tap because of its close association with the defence sector.
“The total offshore engineering spend is expected to grow to $150-$225 billion by the year 2020, and India with its talent pool and existing experience in engineering services, is well suited to realise 25 per cent of this opportunity,” Kiran Karnik, president, Nasscom.
“Companies in India have developed capabilities and skill sets, and invested in technology platforms to leverage this opportunity. The growth in engineering services signifies the need for global corporations to expand their R&D pool beyond their home countries,” said Karnik in the report.
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