Destination India for ER&D sourcing: Here're top 5 sectors' share in 2023

India will have 22 per cent of the global engineering research and development (ER&D) sourcing market by FY30, says a report. The software, automotive and semiconductor sectors are expected to be the top contributors in this market. The country is a destination for ER&D due to its digital talent and startup ecosystem. ER&D, by one definition, is a company’s efforts in innovation and improvement of product.