India enjoys a relatively strong position in the automotive and high-tech telecom engineering services market. With a huge talent pool, strong industry knowledge, and extensive outsourcing experience, India has already secured a prominent position in the outsourcing market. However, as the global engineering outsourcing market is growing continuously, the demand for skilled resources and the focus on digital transformation to propel market growth has also increased. Is India up for this challenge?
Reflecting on the nation’s prior accomplishments can be the best way to evaluate its potential to take over the global engineering outsourcing market by storm.
India – The Preferred Engineering Outsourcing Destination
Actively offering a wide range of professional services to companies across multiple streams of engineering, such as automotive (hybrid technology), aerospace (avionics and structures), telecom (next generation routers), and medical devices (low-cost medical devices), India has already tapped into the billion-dollar worth global engineering outsourcing industry.
India’s main competition comes from China, Brazil, Central, and Eastern Europe, and South Africa. To maintain the position as a key player and capture the engineering offshoring market, Indian service providers are continuously investing in world-class infrastructure, hiring skilled and well-educated resources, and refining their marketing strategies to showcase their competency better. Above all, outsourcing firms in India are continuously retraining their existing workforce to increase their potential to take up new challenges and cater to complex engineering projects.
India Leads the Global Engineering R&D Industry
The global spend on engineering research and development is set to grow rapidly. In this era of accelerating digitization and rapid technology transformation, India is poised to become a leading player in the outsourced engineering R&D sector. This is mainly due to the young and passionate talent pool that is highly qualified and updated with all the advanced tools and the latest industry practices.
The growing sophistication in the engineering R&D industry has compelled engineering firms to consider service providers as strategic partners. India offers a unique value proposition, large engineering base, flexible business models, and a global footprint with greater proximity. Adding to these plusses are the globally located R&D centers and qualified resources, which make India the epicenter for offshoring engineering R&D services.
Offshoring Advantages Offered by India
The advantages offered by India are distinctive and many: structural cost advantages, communication capabilities, capabilities across verticals, a strong and diverse service provider pool with a growing employee base of trained engineers country-wide, and a range of business models to suit the specific requirements of the global corporations. These advantages have helped India establish itself as the premier location for offshoring engineering services.
India – The Next Global Engineering Outsourcing Hub
As the engineering businesses worldwide plan to increase their engineering outsourcing spend, India, with its unique offerings, stands out from the competitors. This not only allows India to be placed on the global innovation map but also assures significant revenue generation.
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