Report: India isn't just for outsourcing anymore : RushPRNews - Newswire & Global Press Release Distribution

 
Bookmark and Share

Report: India isn't just for outsourcing anymore

August 11, 2008

engineersMASSACHUSETTS (RUSHPRNEWS)AUGUST 11, 2008 - India is starting to assert itself as a center of high-tech innovation, according to a study set to be released Monday morning.

A talent pool of engineers working in research and development that barely existed 15 years ago has blossomed to 250,000 people, more than 140,000 just in Bangalore, said Vamsee Tirukkala, co-founder of the consulting company Zinnov, which conducted the study. That's second only to Silicon Valley. And as Indian ex-patriots return home and new college graduates stay home rather than read to regions such as Silicon Valley, as they have in the past, those numbers are only expected to grow, Tirukkala said.

"The brain drain 10 years ago is actually helping the market today," he said. "These are the people going back today...bringing domain expertise with them. The opportunities in India have dramatically increased for them."

If there's a point to be taken for Silicon Valley in Tirukkala's admittedly enthusiastic report it's one that Valley leaders have discussed for years: The next real competitor for high-tech leadership won't be another American tech hub like Massachusetts' Route 128 corridor or North Carolina's Research Triangle Park. It will be in a developing region such as India's Bangalore.

The growth in R&D investment in India, is perhaps the report's most interesting data point. India's high-tech industry may have gotten its start in call center outsourcing, giant services business, and basic "grunt" software coding, but that's beginning to change. R&D offshoring to India is currently worth an estimated $9.35 billion, according to the report, and that's expected to more than double to $21.4 billion within the next four years.

Interestingly, American companies that have been moving more R&D work to India will continue to do so, but for a reason that is perhaps different than the cost-savings that drove them over the last decade: they want to tailor products for the growing local market, and the best way to do that is to have local people who understand cultural and business differences doing the work.

Does that mean Bangalore is going to surpass Silicon Valley for tech industry leadership anytime soon? No. The Valley still receives, by a wide margin, more venture capital investment than any other region in the world, and the big tech companies and universities that call the Bay Area home aren't going anywhere.

Source: CNET News

Click here to see all news from this author/company

Filed Under: BANKING AND FINANCIAL NEWS, PRESS RELEASE

RUSH PR NEWS newswire and press release services at rushprnews.com / Anne Howard annehowardpublicist.com

Content- Legal Responsibility - All material is copyrighted - You may repost but you MUST link back to the original post on your page and acknowledge Rush PR News as the news source. Rush PR News is not legally and/or morally responsible for content of press releases, opinions expressed or fact-checking.

Rush PR News cannot be held legally responsible for material published and distributed through its newswire service or published in its press-room and therefore cannot be sued for published material. Third-party must be contacted directly to dispute content.

Rush PR News is not the contact for material published.

RSSFeed PRESS & SOCIAL MEDIA RELEASES

Ultraseal International expands thanks to export success

Ann Arbor, MI 04/23/14 · Ultraseal International, the global leader in solutions to...

Kaigai Lifestyle Properties Announces Addition of a Brazilian Development to its Portfolio

Oakville, ON 04/22/14 · – International real estate advisors, Kaigai Lifestyle Properties,...

The Environmental Impact of Creek Excavation: Where Science and Nature Meet

London, United Kingdom 04/21/14 · Excavation is one of the most important and...

DEA HOLDS ITS EIGHTH PRESCRIPTION DRUG TAKE BACK DAY ON SATURDAY APRIL 26

Washington, D.C. 04/21/14 · -- After collecting more than 1,700 tons of expired,...

3 M's - Making Manners Matter

Windsor, Ontario 04/19/14 · 3 M's Making Manners Matter Getting people to improve...

VHL Developments to Start Phase 2 of 2150Condos Project

Toronto, ON 04/19/14 · VHL Developments is pleased to announce they will...

Zatun Game Studio Releases a List of Tools That Aid in iPhone Development

Ahmedabad, Gujarat, India 04/18/14 · Zatun Game Studio, a leading cross-platform video game...

Miami Boom Signals First Rating Increase Since 2004: Muni Credit

Miami, Florida 04/18/14 · Record demand from international investors is boosting prices...

Canadian actor/producer Corey Large presents the drug drama ‘Kid Cannabis’ out April 18

Los Angeles/Vancouver 04/14/14 ·  For Canadian actor/producer Corey Large, the drug drama...

Newborn Foundation Presents at 13th Design of Medical Devices Conference on Innovation for Developing Nations

MINNEAPOLIS, MN 04/10/14 · - Newborn Foundation co-founder and chairman Annamarie Saarinen...

Uk firms can succeed at exporting, says Ultraseal International

Ann Arbor, MI 04/09/14 · Understanding markets overseas is the key to exporting...

First App Created for General Public by Academy's Sci-Tech Council

Beverly Hills, Calif. 04/07/14 · ACADEMY COLOR PREDICTOR LAUNCHES ON iTUNES –The Academy Color...

Grand Estates Auctions sells highest priced home in five years in Pasco County, Florida.

Charlotte, North Carolina 04/04/14 · Sale achieved at auction sets a new benchmark...