Engineering R&D services to drive next growth wave

PUNE, INDIA: After tremendous success in IT and BPO services, the trade body NASSCOM has now decided to give a big push to Engineering R&D services in India.

''NASSCOM clearly recognizes that lots of work needs to be done in the area of Engineering R&D services and similar focus like that of pure IT or BPO services has be to brought in the engineering sector,'' N Chandrasekaran, NASSCOM chairman said today at the two-day NASSCOM Engineering Summit 2012 in Pune.

''We have set up a formal committee to restructure NASSCOM wherein we have decided to give special focus on technology infrastructure and businesses that will boost engineering services in India,'' Chandrasekaran added.

Further, TCS CEO & managing director informed that by 2013 the committee will have a structure and will also be operational to support all disciplines of engineering by setting up standards, which will support in tapping opportunities.     

According to NASSCOM, India's Engineering R&D services sector is estimated around $10 billion, which according to Chandrasekaran is of small size compared to the overall market opportunities.

''This segment of business can be the fastest growing segment in future; however, for that we need to invest in talent pools, infrastructure, create knowledge and awareness to build an ecosystem,'' he stressed.

''We need to create an ecosystem with huge investments in talents as there will be high demand of people with domain knowledge along with engineering technology,'' he added.

Giving a broader perspective, Chandrasekaran pointed out that all the engineering processes are now getting redefined in its form, user interface designs, role of software along with pressure of sustainability.

''All these things will drive a new wave of engineering solutions across industries as well as opportunities for the engineering sector,'' he concluded.