The Next Growth Frontier - $40 billion opportunity for India by 2020

Current global spending on engineering services ($750 billion in 2004) is projected to increase to $1.1 trillion by 2020. 
*India's GDP in 2004 was less than $750 billion
NASSCOM the premier trade body and the “voice” of the Indian IT industry, and management consulting firm Booz Allen Hamilton, today released the key findings of a study Globalisation of Engineering Services – the Next Frontier for India. This is the first study to take a systematic and comprehensive view of the role of emerging markets in engineering services and assess the evolution of the engineering market between 2005 and 2020.
  • The Report estimates USD $40 billion opportunity for India by 2020
  • To create 250,000 jobs for Indian engineers
  • Defines the roadmap for stakeholders to achieve this potential by charting next steps for stakeholders
Discussing the report, Mr. Kiran Karnik, President NASSCOM said, “The Indian IT and software industry is continuously renewing itself and seeking to grow by addressing newer service lines; the latest one being engineering services. 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”.

“The total offshore engineering spend is expected to grow to US$150 – US$225 billion by the year 2020, and India with its talent pool# and existing experience in engineering services, is well suited to realize 25% of this opportunity. However, we must ensure that required steps are taken by stakeholders to address possible roadblocks - especially those concerning workforce”, he added.

Read Full Report Summary at NASSCOM

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