R & D: India’s New Star Industry

American multinational companies are setting up research and development (R & D) centers in India, participating in a new trend in the contemporary era of global capitalism - the outsourcing of production activities.. No longer content to only look overseas for low-wage service sector jobs like call centers, large US corporations are tapping into the technical expertise and specialized knowledge of Indian scientists to support high-tech, research-related activities in software development, stem cell research, and pharmaceuticals. American corporate investment in business operations in India has led to a dramatic increase in patent applications and innovations in urban as well as rural economies in India. Off shoring of R & D activities to developing nations, rich in intellectual capital, is now an undeniable facet of the global capitalist enterprise in the early twenty first century. – YaleGlobal