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India has climbed up to 60th position in the Global Innovation Index in 2017 and is likely to reach the top 25 nations in the coming decade.
India is recognized as a significant contributor to world's intellectual capital. Its highly trained workforce is renowned across the globe for contributions in development of many innovations that are impacting millions of lives every single day. Consequently, there is a growing interest in many organizations to develop their R&D base in India.
India's Engineering R&D Globalization and Services market reached US$ 22.3 billion in 2016 and is estimated to reach US$ 38 billion by 2020.1 Supporting this robust growth in the sector, the government of India is aiming to develop the country into a global innovation hub.
1 - https://www.ibef.org/industry/research-development-india.aspx