ER&D services companies face headwinds, growth slowest in four fiscal years

Growth in India’s engineering and research & development (ER&D) services companies could slow to a four-year low by the end of this fiscal, data sourced by ET shows.After an accelerated double-digit growth trajectory, companies such as KPIT Technologies, Tata Elxsi and HCLTech’s ERD business are projected to close the ongoing fiscal year with an aggregate growth rate of about 8%. This follows a curve of higher growth in FY22, FY23 and FY24 at 19.7%, 20.7% and 11.8%, respectively, according to data and information platform EIIRTrend.

A large part…