What's Happening?
Onward Technologies, a Mumbai-based engineering services provider, is expanding its global delivery network by opening a new design centre in Chennai. This centre will be the company's largest offshore facility, complementing existing centres in Pune, Bengaluru, and Hyderabad. The Chennai centre aims to accommodate 2,000 employees, focusing on digital and engineering research and development (ER&D) for global clients. The expansion responds to increasing demand for offshore services from U.S. and European clients, with the centre providing training, software labs, and amenities for employees.
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Why It's Important?
The establishment of the Chennai design centre signifies Onward Technologies' commitment to enhancing its global delivery capabilities. By expanding its workforce and facilities, the company aims to meet the growing demand for offshore engineering services, particularly from U.S. and European markets. This move could strengthen Onward Technologies' position in the competitive engineering services industry, enabling it to offer more comprehensive solutions to clients in sectors like industrial equipment and transportation. The expansion also highlights the increasing trend of companies investing in offshore capabilities to leverage cost advantages and access skilled talent.
What's Next?
Onward Technologies plans to continue investing in its global delivery model, potentially expanding its reach and capabilities further. The company may explore additional opportunities to enhance its service offerings and client base, leveraging the new Chennai centre's resources. As demand for offshore services grows, Onward Technologies could focus on developing specialized expertise in key industries, positioning itself as a leader in digital and ER&D services. The success of the Chennai centre could influence future strategic decisions, including potential expansions or collaborations with other industry players.
