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YASMIN TAJ

There can be no secondthoughts about the factthat engineering is thebackbone of any nation's

economy. The engineering sectoris one of the largest sectorsamong the industrial segments inIndia. If there were no engineers,the discoveries done by scientistsin natural science would not betranslated into practical devicesused in daily life. In every field oflife, whether it is in the field ofmedical sciences,communications, defence,infrastructure, etc., there is anengineer in the background.

According to Deloitte's globalindex 2013 for 38 nations, India isthe fourth most competitive

manufacturing nation behindChina, the US, and Germany, andis anticipated to become thesecond largest economy inmanufacturing by 2017. A reportby McKinsey and Companybelieves that India'smanufacturing sector has thepotential to create up to 90million jobs by 2025 (the sectorcurrently generates about 45million jobs, 80 per cent of whichare in the unorganised segment).

ON THE GROWTH

TRAJECTORYTalking about how theengineering sector is faring at themoment, Paparao Kodali, vicepresident and general manager,Ingersoll Rand Engineering &Technology Centres, India

informs, "It is a positive sign thatwe are largely moving towardhigh-end engineering andmanufacturing with theGovernment announcing multiple

reforms and policies in thesesectors. Unlike the past, wherethese sectors were driven by low-cost labour, inadequate land lawsand reasonable cost of capital,

India is fast moving up the valuechain and is increasingly adoptingglobal standards in manpowertraining, technologies used,processes adopted and overallquality of goods and servicesproduced.

India is also fast emerging as amajor destination for high-endengineering, research anddevelopment (R&D), andproduct/service/processinnovation for most companiesacross the globe. With a footprintof about 750 captive engineeringand technology centres of majormulti-national companies (MNCs)of which close to 350 are focusedon R&D, India is fast developingkey competencies essential forfuture growth. The value of India'sengineering R&D sector is

estimated to be around US$ 10billion currently and forecast toreach US$ 45 billion by 2020according to an estimate by the

National Association of Softwareand Services Companies(NASSCOM)."

According to Rajiv Kapur,managing director, Broadcom,"Engineering continues toexpand and innovate. In the 60sand 70s, it was civil and chemicalengineers who were much indemand. In the 80s and 90scame the exploding demand forelectronics andcomputer/software engineers. Ata micro level, some areas maydecline or be stable, and othersare growing fast. For instance,first PCs drove the explosivegrowth, and then came networkequipment followed by mobileand consumer electronicdevices." Sushil Gupta, vicepresident and managing director,Atrenta India Pvt. Ltd., furthersays, "Under the engineeringsector, the semiconductor andelectronic design automation(EDA) industries play animportant role in today's

computer and Internet-dominated world. In India, mostof the major semiconductor andEDA vendors have large R&Doperations in India. These teamsare involved in developing andsupporting the modern-day chipsused in computers, smart phones,tablets, TVs, cars, medicalequipment, etc. Most of thesecompanies are growing theirworkforce in India at a very rapidpace."

ROADBLOCKS ON THE WAYThe engineering sector has beenon a growth mode even in themost difficult times. But there arecertain challenges the industryfaces and needs to overcome.Kodali expresses, "The keychallenges faced by these

industries include increasedglobal competition, availability ofskilled workforce and access touninterrupted energy supplies

and developed publicinfrastructure. To overcome thesechallenges, the engineering sectormust have continued focustoward innovation, operationalexcellence, productivityimprovements and talentdevelopment."

According to S RameshShankar, Executive VP and ClusterHR Head, Siemens Ltd, "Themacro-economic conditions havebeen challenging and theengineering and manufacturingsector has also been impacted bythe sustained difficult businessenvironment. It is a matter of timefor the turnaround to occur. Theeconomy will gain impetus ifstalled and delayed infrastructureprojects take off, interest ratesease, and consumption ofmanufactured goods increases."

Indian engineering sectordemands huge capital investmentand regulation of policies byregulatory bodies to maximise theprofit, asserts Faisal Husain,founder & CEO, Synechron. "Theevolving trends at the economicand technological front demand alot of changes to suit the needs ofengineering environment.Reducing the dependence on onesegment of engineering sector,enhanced production capabilities,flexible regulations and increasedinvestment in this sector willenable it to overcome all possiblechallenges," he says.

A BRIGHT FUTURE AHEADThe Indian engineering industryhas witnessed an unprecedentedgrowth in the past few years andit plays a significant role in thedevelopment of other industrialsectors of the economy. So, whatwill the future of this revolutionaryindustry be like? "With a rapidly

growing middle class and millionsof underserved customers, theseindustries offer significantopportunities for growth. Fuelled

by innovation, growingentrepreneurial culture andavailability of skilled workforce,these industries have thepotential to bring about sustaineddevelopment and progress in allwalks of life. To realise thispotential, it will be imperative fororganisations to invest in PublicPrivate Partnerships and convergetheir energies towards making aneffort to revive the industry," statesKodali.

Kapur further adds, "The futurelooks healthy with promisingopportunities and there is alwaysa new emerging space that bringsreason for growth andexcitement. There are lots ofinnovations happening acrossmultiple spheres such astransportation, education, retailthat will potentially change theway we live, eat, shop and interactwith each other."

So, even though times may bechallenging for the economy, theengineering industry of India iscertainly steering the nationtowards better times ahead!

A CONSUMER CONNECT INITIATIVE ADVERTORIAL & PROMOTIONAL FEATURE

The revolution called

Powerful forces,

including

demographics,globalisation, and

rapidly evolving

technologies are

driving profound

changes in the role of

engineering in

society. Heres a look

at this evolving sector

ENGINEERING

Engineers Day iscelebrated onSeptember 15 to markthe birth anniversary ofSir M Vishweshwaraiah

Celebratingalegend

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THE ECONOMIC TIMES, MUMBAI, FRIDAY, SEPTEMBER 13, 2013