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| India can get $40 bln outsourcing contracts by 2020: NASSCOM | | |
New Delhi, Aug 4 : Indian companies could win up to 40 billion-dollar worth of contracts in engineering outsourcing business by 2020, a NASSCOM report said.
The estimated new business would also create 2,50,000 jobs for Indian engineers, the survey conducted by National Association of Software and Service Companies (NASSCOM) in collaboration with management consulting firm Booz Allen Hamilton stated yesterday.
India is the world leader in outsourcing, accounting for about half of the global business. Scores of multinational companies farm out services to Indian companies due to the availability of skilled workers at low wages.
''The total offshore engineering spend is expected to grow at 150 billion dollars to 225 billion dollars by the year 2020, and India with its talent pool and experience in engineering services is well suited to realize 25 per cent of this opportunity,'' NASSCOM President Kiran Karnik said.
The study has estimated an additional 40 billion dollars opportunity for the Indian IT industry by 2020, from offshoring of engineering services alone.
It also calculated that 12 per cent of the world's total engineering workforce is from India.
''The demand for engineering talent is growing, and emerging market countries such as India will play a vital role in expanding capacity,'' Booz Allen Vice President Kevin Dehoff said.
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