Engineering R&D is vital: NASSCOM

BANGALORE, INDIA: National Association of Software and Service Companies (NASSCOM) in association with the management consulting firm Booz & Company, today released the key findings of a study titled ‘Global ER&D: Accelerating Innovation with Indian Engineering’ at the NASSCOM Engineering Services Conclave 2010 held at ITC Gardenia, Bangalore. This study is aimed at understanding the changes in customer perspectives about ER&D services sourcing, the growth trends in the Indian service provider landscape and the opportunity by 2020. It also identifies and prioritizes key verticals, so that the industry can invest systematically in creating a sustainable ecosystem.

Major growth triggers have been identified as:

Continued ER&D investment critical for innovation and penetrating new markets.

Increasing use of electronics, Fuel efficiency/ Alternate Fuels and convergence of technologies driving future R&D spend, Greater focus on emerging markets resulting from rise of a new consumer segment with varied requirements, Increasing sophistication and maturity of the ER&D services industry, and Changing customer perceptions wherein India is being viewed as a strategic partner, focused on innovation rather than just sustenance engineering.