In the recent past, Indian companies have proved to be reliable outsourcing partners for a range of BPO and KPO services. Now, they are making forays into yet another sector – product design and mechanical engineering.
The Huge Potential of Outsourcing Mechanical Engineering Services to India
According to the National Association of Software Services Companies (NASSCOM), India, “Global spend on Engineering Services in 2004 was $750 billion and is projected to increase to $1.1 trillion by 2020. Of the $750 billion spent today, only a fraction of the total is being offshored ($10 billion to $15 billion). The value of work currently undertaken by India-based vendors in this space is estimated at just 12% of the offshored market, highlighting significant untapped potential.”