MUMBAI, INDIA: India holds a relatively strong position in the global Engineering Services Outsourcing (ESO) market, with a potential of US $40 billion by 2015.

India's strengths lie in the automotive, aerospace and hi-tech telecom sectors accompanied by a large talent pool and experience in this field. The growth in engineering services signifies the need for global companies to expand their R&D centers beyond their home countries.

Another attractive factor for these global manufacturers is low labor cost along with quality, one of the main reasons that makes India a major outsourcing destination.

Indian engineering service providers are technically proficient and have a fervent eye for detail ensuring that service levels remain better than competing countries. Most of the Indian engineering services providers are at par with competition and offer an array of services, which include CAD, CAM and CAE, while vertical specific engineering services companies provide product lifecycle management solutions, reengineering and design change management, too.

To target the maximum potential from engineering service providers and automotive manufacturers, there is a need to address key issues like quality manpower, low cost services and put India on the global market as an engineering service provider. Frost & Sullivan is organizing a two-day high-powered MindXchange to address these issues through its summit "Opportunities in the Automotive Engineering Services Outsourcing Market" to be held on August 11-12, 2008 at the Leela, Goa.

The summit seeks to understand and discuss the growth needs of companies in the engineering services outsourcing as well as the automotive industry by fostering common understanding of business needs and opportunities that could lead to business partnerships. This forum endeavors to nurture strategic business decisions by bringing together key decision makers and thought leaders from the domestic and international automotive industry and engineering services companies.