Close on the heels of Information Technology enabled Services (ITeS), which has globally positioned India, there is yet another sector, which is showing increasing dynamism and growth. In fact ITeS is faced with competition from a sector in which the country surprisingly spends only 0.81 per cent of the gross domestic product (GDP) -- Research and Development (R&D). That has however, not stopped it from gathering global attention in leading areas of science and technology.

As the sector takes huge strides up the growth curve, it has begun to shape a new trend in the outsourcing industry. Outsourcing is no longer about peripheral jobs being moved offshore. Gone are the days when international companies retained R&D jobs at home and sent abroad work that were clerical and of a repetitive nature. Now, even innovation and design work have begun to move offshore, especially to India. More than 100 Fortune 500 companies -- including Delphi, Eli Lilly, General Electric, Hewlett Packard, DaimlerChrysler and others - have put up R&D facilities in India over the past few years.

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