A new window of opportunity is opening now for India. Even as Indian vendors continue to move from strength to strength as providers of information technology enabled services (ITeS) and business process outsourcing (BPO) services to companies around the world. The possibility now exists for India to add a third major service growth stream-engineering services outsourcing (ESO) to its rapidly growing economy.
India has the largest pool of engineering talent among the emerging countries capable of taking on this kind of work- more than Russia and China combined. The current graduate talent pool suitable for Engineering Design Services work in India represents more than 20% of the total in low cost countries.
Some of the major companies have found India as the best source to outsource the engineering services. India has the expertise in 3D modelling, 2D detailing, and Reverse engineering, FEA in sectors like aerospace, automotive and industrial machinery. In the automotive sector according to industry sources, 15 global car markets have set-up outsourcing offices in the country with a combined budget of approximately $1.5 billon. US companies that have development centers in India are increasingly outsourcing industrial and engineering tasks to India. The last few years have definitely seen increased activities in the India CAD/CAM/CAE space with MNC product vendors realizing the importance of India as a cost effective destination for outsourcing CAD/CAM/CAE work
So engineering services outsourcing work in India is an opportunity, which if realized rightly can generate huge amount of capital as well as jobs and hence can contribute significantly towards the growing economy.