India emerging as a major outsourcing hub for engineering services

• The automotive industry will start outsourcing 40 per cent of its engineering activities to the engineering service providers by 2015.
• India with its natural competitive advantage is likely to play a big role in various segments of the engineering services industry. The Indian engineering industry is rapidly growing as a major outsourcing hub with a compounded annual growth rate (CAGR) of more than 30 per cent. Automotive, telecom and aerospace are the major verticals that spend heavily on outsourcing engineering services.
• The growth in engineering services signifies the need for global companies to expand their R&D centres beyond their home countries