Engineering services outsourcing next on cards
Taking the BPO-KPO wheel forward, the 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% of this opportunity," according to NASSCOM President Kiran Karnik.
"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.
Engineering services are a $40 billion opportunity for India by 2020, but to achieve that there is need to create 250,000 jobs for Indian engineers and also chalk out a roadmap for stakeholders to achieve this, said Dr Harsh Gupta, Director, Centre for Design and Research, Pentair.
Published on :www.offshoreoutsourcingworld.com/blog
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