Bangalore, Aug 6 (UNI) Zinnov Management Consulting, one of the leading management consultancy firms, today launched 'R&D Innovation Council' with an aim to bring together leaders from various Research and Development Centres to discuss various challenges and issues confronting them.
Speaking after the launch, Zinnov CEO Pari Natarajan said ''we expect the R and D offshoring industry to grow at CAGR of 23 per cent in an optimistic market scenario, wherein majority of the growth would be driven by large R and D centres and service providers.'' ''Most of the R and D centres in India are small firms with a global revenue of less than 100 Million US Dollars and operate mostly with less than 100 full-time employees. On an average these small R and D centres contribute between 80 per cent and 90 per cent to the global R and D companies whereas large R and D centres contribute about 25 per cent to 35 per cent to the global R and D,'' he added.
Mr Natarajan said that according to the company's research, India centres were striving to become high-value centres, realising the strong need for local leadership.
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