India’s engineering research and development (ER&D) sector is projected to surpass USD 100 billion in revenue by 2030, driven by the integration of Artificial Intelligence (AI) into core engineering workflows, IT industry body Nasscom said on Tuesday.
The sector, which is estimated to generate USD 63 billion in revenue in FY26, is witnessing a significant shift as engineering becomes increasingly software-defined, data-driven and intelligent.
“Global ER&D spending is projected to reach USD 2.482.50 trillion by 2030, growing at a CAGR of 89 per cent between CY24 and CY30. With an estimated revenue of USD 63 billion in FY26, India’s ER&D services revenue is projected to cross USD 100 billion by 2030. Technological disruption and a sharper focus on innovation and value are creating new areas of demand,” Nasscom said.
Nasscom’s report, titled ‘Physical AI Redefining ER&D opportunity for India’, suggests that demand will evolve in three waves. The first wave will see the ..
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