Seizing the ER&D Advantage: Frontiers for 2030

Rajiv Gupta Snehil Gambhir Amit Kumar Ankush Wadhera Aditya Fialok Nandakumar Karanam Jyothi Menon Debjani Ghosh Sangeeta Gupta KS Vishwanathan Achyuta Ghosh Siva Polimetla Vandhna Babu

With key industrial sectors undergoing massive technological disruption, investment in ER&D has become necessary to develop new products, solutions or transform operating models. The global business Engineering, Research & Development (ER&D) industry is expected to go from $1.5-1.8T in 2023 to $2.5-3.3T in 2030, growing at a CAGR of 8-9%. India remains a major destination for ER&D outsourcing with $44-45B spend in 2023, and in the future it is expected to retain its strong position with expected spend of $130-170B in 2030.

A co-publication with Nasscom, this report titled 'Seizing the ER&D Advantage: Frontiers for 2030,' looks at the trends that will drive this growth, as well as India’s potential to become a global leader in this space. As part of the study, we conducted a survey with 280+ executives across 9 sectors to understand the outlook on ER&D intensity, preferred and potential outsourcing locations, challenges being faced by companies looking to outsource their ER&D as well as specific skillsets that the industries foresee to be in demand in the next 5-7 years.