'The focus will be on building Indian industry readiness for global product development demand.
NASSCOM launched a Special Interest Group (SIG) for the construction and heavy engineering (C&HE) sector to radically advance industry readiness for captive consumption and meet global demand for products and design solutions from India.
At the SIG launch meeting stakeholders from the C&HE industry including OEMs, ESP's, technology providers across the country enlisted themselves as members and adopted the SIG charter. The group will focus primarily in the areas of developing policy framework for innovation, building the talent ecosystem, deploying advanced technologies for product innovation and cycle time reduction and addressing regulatory challenges for engineering and IT services outsourcing in this space.
Som Mittal, President, NASSCOM said, "The NASSCOM Engineering Summit offered the perfect platform to bring key thought leaders from the C&HE industry and software services and technology providers as also other interested parties together to exchange ideas and share solutions to add momentum to the wave of progress being seen in the C&HE industry."
Samir Yajnik, President Global Services & COO Asia Pacific, Tata Technologies who chaired the SIG said; "While the industry has been registering strong growth and India is set to outpace the global growth average, there are challenges which need to be addressed proactively. The C&HE-SIG will be an idea network for stakeholders to innovate and work towards a common agenda keeping India's global predominance in this sector as the focal objective."
It is worthwhile to note that a Zinnov study presented at the SIG launch projects that the global demand for C&HE machinery will expand 9.7 percent per year to $191 billion by 2015. The Indian C&HE industry revenue is set to grow six-fold to $23 billion by 2020 from $5.03 billion in 2011.It is growing at CAGR of 21 per cent as against 18 percent registered between 2006 and 2010.
NASSCOM is the premier trade body and the chamber of commerce of the IT-BPO industries in India. It is a global trade body with more than 1300 members, which include both Indian and multinational companies that have a presence in India. NASSCOM's member and associate member companies are broadly in the business of software development, software services, software products, consulting services, BPO services, e-commerce and web services, engineering services offshoring and animation and gaming. NASSCOM's membership base constitutes over 95 per cent of the industry revenues in India and employs over 2.32 million professionals.
Tata Technologies is a leading manufacturing consulting organisation, tracing its roots back to 1981, offering Engineering Services Outsourcing (ESO) and enterprise IT Services which optimise clients' product development process and the entire manufacturing ecosystem. Tata Technologies complements its' Services portfolio through the provision (reselling) of the enabling software technologies, including software developed by Tata Technologies, that underpin successful product development and manufacturing business (Enterprise) systems.
"The C&HE-SIG will be an idea network for stakeholders to innovate and work towards a common agenda keeping India's global predominance in this sector as the focal objective."