ESO Blog
Wednesday, February 6, 2008
Made in India - Indian Engineering Industry on the Rise
From cars to tractors, refrigerators to laptops, made-and-designed-in-India is becoming a sought after label. According to some studies, India’s contract industrial engineering revenue is expected to grow from around $500 million to $10 billion in the next five years. Worldwide, the market is growing exponentially. International market research firm IDC expects the product engineering services industry to double, hitting $53 billion annually by 2009
Nasscom in its study ‘Engineering Service Outsourcing (ESO)’, pegs global spending on engineering services at $750 billion per year. By 2020, this amount is expected to increase to more than $1 trillion. Currently, India has about 12% market share. By 2020, the ESO market would be worth $150-$225 billion. India’s share will be 25-30%, or $50 billion annually
Full story here
Nasscom in its study ‘Engineering Service Outsourcing (ESO)’, pegs global spending on engineering services at $750 billion per year. By 2020, this amount is expected to increase to more than $1 trillion. Currently, India has about 12% market share. By 2020, the ESO market would be worth $150-$225 billion. India’s share will be 25-30%, or $50 billion annually
Full story here
# posted by Ecacofonix : 7:10 AM
