Market reached 4 lakh crores: All the world’s big auto companies are opening research centers in India.
The country’s Automobile Engineering, Research and Development (ER&D) market has reached around Rs 4 lakh crore. According to global research firm Taplow Group, India’s ER&D market was 1.85 lakh crore in 2016, which became 3.4 lakh crore in 2021. It is estimated to reach Rs 3.9 lakh crore in 2022 with a growth of 12.67%.
In fact, almost every major automobile company and auto technology service provider in the world has opened a Research and Development (R&D) center in India. Hundreds of companies like Mercedes Benz, Bosch, Daimler, Harman, Ford Motors are included in these. They have invested thousands of crores on R&D in India, where there are more than one lakh employees.
The demand for Indians in R&D is because
According to Hemal Thakkar, Director, Crisil Market Intelligence, EVs require lightweight aluminum forgings. For this, companies from all over the world are turning to India. Sumit Chhajed, CEO of EV finance company Otto said that R&D investment in India has increased by more than 150% this year as compared to last year.
8.5 lakh Indian engineers engaged in making autonomous cars
More than 10 million software engineers are engaged in making autonomous cars. By 2030, their number can reach up to 1.4 crores. About 30 lakh engineers will have 15-20 lakh Indians. Out of the current 1.1 crore, about 8.5 lakh engineers are from India.
Indians are developing 35% of the code for driverless cars
Indian engineers are developing about 35% of the code for the 100 million lines of driverless cars. According to Karthikeyan Natarajan, head of Nasscom’s engineering and R&D council, 50-55 thousand engineers from global auto companies are already working in India. Original Equipment Manufacturers employ 25,000 engineers. The service providers of these companies have also hired 40,000 software engineers just for automotive software.
Skilled and Affordable Talent in India
FADA President Manish Raj Singhania said, “Top end-automakers are flocking to India. They know that the world’s most affordable, talented and most skilled engineers will be found here. Also, over the years, the government has also been focusing on the R&D sector. initiated and made favorable policies.
