India accounted for $12.3 billion, or 40% of the total of $31 billion revenue related to globalized engineering and R&D generated by MNC captives outside their home countries in 2015. This is according to a study done by Zinnov Management Consulting Pvt. Ltd. Bengaluru.
The revenues on globalized engineering and R&D generated by R&D centres of MNCs in India during 2015 grew by 8.3% over 2014 as against average global growth of 7.6% by all the R&D centres of MNCs outside their home countries. Presently, the average growth of engineering and R&D centres globally is 6-7%, whereas Indian engineering and R&D centres are growing at an average rate of 10-12%.
Year 2015 saw 69% of all new offshore technology centres being established in the country. New R&D centres have been set up in India in the previous two years along with expansion of the older ones. These centres were in areas such as software & internet, telecom & networking, semiconductors, consumer electronics, automotive, computer peripherals, medical devices, industrial research, aerospace and defense.