The severe economic downturn has impacted the global offshoring industry. However, investment in research development is increasing and innovation continues to drive the global economy. Global Engineering R&D (ERD) spend has witnessed significant growth and this trend continues. The CAGR for last couple of years has been 10 percent which is expected to grow to about 14 percent in coming years. All this will have a positive impact on the Indian ER&D industry as well. Read more
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