• India is the leading destination for Product Engineering Services with 22% market share and total R&D investment expected to grow at 14% CAGR to USD 42 billion by 2020
• Captive centers are growing in maturity and global significance with core research teams located in India, co-creating innovations with service providers and playing a decision-making role in global sourcing initiatives
• Engineering services in India for Healthcare and Automotive growing faster than traditional verticals such as ISV and Telecom, at 26% and 17% CAGR respectively
• Indian R&D Service providers grew at a higher pace at 16% CAGR in FY2012 than captive centers, which grew at 11% CAGR
• Ecosystem connect between Captives, Service Providers and Startups give India a unique advantage to Innovate for local as well as global markets
• Indian Service Providers will face stiff competition from Russian and Chinese service providers who are building strong domain capabilities in ISV and Telecom segments
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