‘Move over back offices, enter engineer aircrafts and defence equipments’—that’s the new slogan of the Indian IT industry battling for growth in recessionary times.
And why not, it’s a $50 billion market in making by 2020.

Valmeeka Nathan, VP and head of product lifecycle and engineering solutions at Infosys, said, “That’s minimum. If we put well everything it can well be $100 billion."

Engineering services help IT companies tap into the research and development budgets of their clients and not just the traditional IT budget, an added stream of revenue.
Karthikeyan Natrajan, VP and head IES at Mahindra Satyam, said, “We have won seven new clients in the last six months in the range of $1-$5 million and have huge ramp up potential.”

Girish Wardadkar, ED and president of KPIT Cummins, said, “We want to be a $500-million company by 2013 and half of that revenue will come from engineering services, that’s five times of the current figure."

Meanwhile, the going is good for Indian IT companies in the engineering services space, but the competition is with the best of engineering minds world over and just cost arbitrage won’t help.