India’s share in IT, R&D biz up in 2 years: Report

BENGALURU: India continues to be by far the most preferred destination for IT, engineering and R&D services delivery.

In 2018, of the 307 new centres that were set up for such services, India accounted for 23%, according to consulting firm Everest Group’s Global Locations Annual Report 2019. Singapore followed at about 8%, while Ireland, China and Mexico accounted for 5% each.

In the past four calendar years, Asia-Pacific’s share in new centres has risen to 47% from 43%. India accounted for 47% of the 198 new centres in APac in 2015 and 2016, and 51% of the 270 centres in 2017 and 2018. This shows the country’s share has risen over these years. The fastest growth has been in engineering and R&D centres. In APac, the share of this segment, rose to 40% in the past two years, compared to 23% in the two years prior to that.