India’s growth as R&D hub to drive demand for real estate
December 22, 2020
India will become a hub of worldwide engineering research & development centres and contribute significantly to the strategies of worldwide multinational companies which will result in higher demand for commercial real estate and data centres.
Cushman & Wakefield said, “In the next two years, engineering R&D revenues are estimated to register a (CAG) compound annual growth of approximately 8% with MNCs driving growth across products & services”.
Moving Forward, Engineering & R&D services will be better than revenues from BPM services, thereby consolidating the former’s position as the second-largest contributor to software revenues, after IT.
India tech and apps such as AI, Cloud, predictive analytics smart devices, etc. As of 2019, Engineering R&D centres accounted for approximately 20% of cumulative software revenues MNCs caught routed approximately half of engineering R&D revenues.