It might appear far-fetched to be question and assumption today, but will Indian engineering companies which have an overlap with capital goods compete with global giants for orders in developed countries. To get the answer, one will have to go back close to three decades back and get an answer in two parts. First, Indian companies were the big supplier of manpower in the gulf countries as they were the sub-contractors of companies building infrastructure before the start of the first Iraq war. Second, Today, Indian companies get full infrastructure projects, like contracts worth billions of dollars to build gas compression systems. While they are far and few, after surviving a major slow down after the global financial crisis, Indian engineering companies have come a long way. Will exports be the next big frontier for them.
When it comes to exports, software and pharma companies constitute bulk. But these sectors did not reach these heights in just one day, it has been a process at the back of which was the basic strength of India as a country, that is skilled manpower. Can engineering or EPC services be the next big one ? In the case of engineering and EPC companies, besides the skilled manpower there are three more elements which are required to make it big,
ETMarkets.com
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