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The Indian R&D sector is booming and so are salaries even as companies struggle to find scientists. The boom is being led by the pharmaceuticals sector with both Indian companies and multinationals expanding their R&D units to take advantage of India's scientific talent.
This report in the Business Standard says salaries in the range of Rs10-40m ($240,000-$975,000) are being paid to leading scientists in pharmaceutical companies. Salaries are steadily heading to international levels.
At this rate, how long will India enjoy the cost advantage? Not many years, I suspect. India cannot, in the future, rely only on cheap talent to draw R&D business from the West or even China.
Comments (2)
I dont think so?
Becasue salaries are nothing but cost of living + some premium of expertise of the individual. The cost of living is not going to rise in India alone....It will be relative and therefore, I dont see too much impact.......in general.
Situation may be different in different sectors depending on expertise level required.
Posted by Profmaster | October 1, 2007 1:34 PM
Posted on October 1, 2007 13:34
Malini,
This is good observation. Eventhough presently the costs are seemingly low, the increase in this business will change the demand supply situation, and already we are seeing the Indian salaries going through the roof. Getting good talent will become expensive(because the good always found their way out to the US). Even if these scientists decide to return back, they will come at a high price, and the cost of R&D will be soaring high.
The cost of living has also gone up dramatically over the years and this has a direct impact on businesses.
Posted by Lalit Vashishta | September 13, 2009 3:21 AM
Posted on September 13, 2009 03:21