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

Yoga on Water...Without Water

Toronto, Ontario 08/26/15 ·  - Standup Paddleboarding (SUP) is one of the...

Hilltop Christmas Trees Available for Home Delivery

New York, NY 08/19/15 · The perfect Christmas tree is the centre piece...

MONTREAL MEDIA ALERT: Moment™'s world premiere at McLean’s Pub: compact karaoke soundbar

MONTREAL 08/17/15 · Moment™'s world premiere, compact karaoke soundbar  to revolutionize...

Network Heroes Offers Full HIPAA Audits In Las Vegas, NV

Las Vegas, NV 08/14/15 · Network Heroes Partners with the Best HIPAA Compliance...

Dynamic Blending Specialists, LLC Kicks Off an Indiegogo, Inc. Crowdfunding Campaign

South Jordan, UT 08/14/15 · – Dynamic Blending Specialists (DBS) a cosmetic formula...

Aspect Imaging launch one-touch MRI at WMIC, 2015

Shoham, Israel 08/12/15 · Aspect's advanced one-touch MRI will be presented at...

Growing Problem of Anti-Semitism in the United Church of Canada

OTTAWA, ON, Canada 08/10/15 · Proposals Before The United Church Of Canada General...

Thriveon Earns Respected Technology Industry Credential

New Ulm, MN 08/06/15 · CompTIA Managed Services Trustmark™ signifies commitment to industry...

Portable Road Weather Information System (RWIS) Available

Nashville, TN 08/03/15 · Digital Traffic Systems, Inc. of Ashland, Virginia, announces...

Dry Paddleboarding Across Canada

Uxbridge, ON 08/03/15 · Uxbridge, August 3rd, 2015 - Standup Paddleboarding (SUP)...