Taking the BPO-KPO wheel forward, the off shoring industry is looking to tap the $750 billion-a-year global engineering services industry.

India enjoys a relatively strong position in the automotive and high-tech telecom engineering services market with a $25 billion opportunity by 2020, according to a latest industry report. Aerospace offers the greatest potential for expansion - though it is also one of the toughest opportunities to tap because of its close association with the defense sector.

The total offshore engineering spend is expected to grow to $150-$225 billion by the year 2020, and India with its talent pool and existing experience in engineering services, is well suited to take a major chunk of this.

Companies in India have developed capabilities and skill sets, and invested in technology platforms to leverage this opportunity. Also, to capture the market, what is needed is a brand name for Indian services, same on the lines of software. All important stakeholders including the government of India, academic institutions, service providers and trade bodies such as Nasscom will need to undertake a series of important measures.

A carefully thought out strategy that combines strong marketing efforts - such as the development of a 'Engineered in India' brand, with investments in infrastructure, workforce and expertise and the very least is required. In addition, it's important for all stakeholders to get together and think about how India's domestic growth can become a strategic advantage in the long-term, he said.

For India, Engineering Services Off shoring presents a tremendous opportunity - it is not only a significant revenue generator, but will also place India on the global innovation map. Attaining, training and retaining talent will be a critical next step for India to maintain its current advantage, industry experts say.

If addressed appropriately, engineering services off shoring (ESO) can help the Indian offshore services industry further consolidate its leadership position and build a significant skill-value advantage over the competition.