India has established its name as one of the best destinations for IT Outsourcing by delivering eminent and pioneering services across different industry verticals to a global clientele. Furthermore, as recent trends go, the world is looking at India as an engineering knowledge hub, which implies that along with IT, Indian companies can mark a distinct niche for itself in another service stream currently referred to as ESO (Engineering Services Outsourcing).
In recent decades the ESO market has witnessed a gradual rise, but still the potential is unexplored. The ESO market in recent years has evolved to encompass a broad array of new product development, engineering consulting, and value-based engineering functions. If viewed from the global perspective, ESO spend is proportionally shifting from different mature global markets to emerging markets in India, and therefore it can be expected that the Indian vendors would be able to exhibit their accomplishments soon.