The rapid growth in the market for products and services coupled with a large pool engineers and data scientists makes India the destination of choice for the global corporations for off-shoring their Engineering Research and Design needs,  B V R Mohan Reddy, Vice Chairman, NASSCOM, has said.

He was speaking at the annual NASSCOM Engineering Summit 2014 in Pune. The theme for the two-day summit, which kicked off today, is “Engineered from India”.

“The new paradigm of globally interdependent economies is fuelling the globalisation of R&D solutions. Major engineering challenges are being addressed by leveraging the capacities available in various geographies and building interdisciplinary collaboration. The next decade will largely be driven by disruptive technologies, changes in competitive landscape and consumer preferences, increased digitization and demand for mobility. We are positive that these opportunities will continue to be addressed by engineering companies to establish India as a strong destination for innovative solutions,” Reddy said.

Speaking on the sidelines of the summit Vijay Ratnaparkhe, Chairman, NASSCOM Engineering Council, said, “The Engineering Council has been implementing multiple initiatives that focus on talent development, branding, new technologies like Internet of Things, policy interventions and special interest groups on focused verticals. The summit this year will provide a unique opportunity to companies for showcasing disruptive technologies and how they are redefining the engineering landscape.”

India today is a home to over 600 ER&D companies, and over 400 global ER&D organizations for most of whom it is the second largest centre outside their home location. More than 200,000 engineers are employed by service providers and engineering firms.

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