Facts & Figures

Manufacturing

• Indian products are gaining acceptance in the world market.
  
• A study by Confederation of Indian Industry (CII) and McKinsey & Co. on manufacturing sector in India estimates that Indian manufacturing export has the potential to touch US$300 billion by 2015, growing at an annual rate of 17% as against the historic growth of 11%.
  
• Nearly US$70 billion to US$90 billion could be captured from four sectors – apparel, auto components, specialty chemicals and electrical and electronic products.

• Currently pegged at $3.5 billion, outsourcing in engineering services has the potential to grow to $10-$20 billion in three to five years. Value of work currently undertaken by India-based vendors in this space is estimated at USD 400-500 million, highlighting significant untapped potential.
  
• Over the last 2-3 years, the Engineering Technology (ET) services outsourcing market has grown rapidly in India and has the potential to become the next big wave for India after IT & BPO. ET Services represents an $ 8+ billion outsourcing opportunity and India is poised to capitalize on this growing demand to emerge as the "Engineering Hub of the World".
  
• India currently provides outsourced services in areas of automotive design, aerospace design, construction, industrial machinery and products, pharmaceuticals, semiconductor work and much more. Global engineering giants like Intel, Texas Instruments, Sony, Airbus, Boeing, GM, Ford, Daimler Chrysler, Emerson Electric, Atlas Copco, Black & Veatch, Technimont, John Deere, Caterpillar, 3M, etc. are outsourcing their design needs to captive centers in India or to third party vendors.

• India's well-established engineering industry and more than 1,400 engineering colleges that produce 350,000 engineers annually is an asset that few countries can compete with.
  
• India's engineers have won much global acclaim. To name a few, there were 8 engineers of Indian origins in the US National Academy of Engineering's list of 2006 honourees and a Pune born engineering legend from Stanford University who has been selected for induction into Silicon Valley Engineering Hall of Fame.
  
• Though India has a huge talent pool, there is a need to nurture more engineers to meet future market demands. For India to continue getting a 65% share of technology services that are moving to developing nations from developed countries, it must find ways to ease a potential shortfall of 150,000 engineers by 2010, consulting firm McKinsey & Co has estimated.

India is a goldmine of largely untapped engineering talent. SolidWorks has organized a design contest to showcase India's engineering talents. Named Passion for Design, the contest will feature students and CAD professionals using SolidWorks software to design a variety of products that could improve everyday life. SolidWorks CEO John McEleney will announce the winners at SolidWorks World.

Aimed at promoting India's growing pool of skilled engineers, the Passion for Design contest will focus on designing products for energy development, life enhancement, and handicap assistance for the student category.

The contest will give engineering students a chance to immerse themselves in real-world design projects that could eventually become a commercial reality. It also gives professional engineers a chance to demonstrate their skills for a broad audience and potentially contribute to life-improving products.