Country overview india has been known worldwide for

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Unformatted text preview: &D projects—to more and more providers. Country overview India has been known worldwide for its stupendous performance in the IT services. India has capitalized on its large numbers of well-educated people, skilled in the English language, to become a major exporter of software services and software workers. Moreover the most important advantage it provides to business sources which gives it the leading edge from all other competitor is its “value for money” or cost of operation India's offshoring sector, the world's largest and fastest growing, is dominated by IT services, which play a major role in the country's overall economic growth. India is the leading country for offshore outsourcing. The offshore outsourcing industry started in India and it has been able to grow the IT and BPO export sector to $55 billion and capture more than half the offshore outsourcing industry. Thus it has an unparalleled history and size. But now this is being challenged by the cynosure of central Asia; China. The U.S. and the UK have been a major revenue source for the BPO industry since the genesis of this industry. But now service providers are exploring markets in other global regions such as Europe, Australia, the Middle East and Asia Pacific. NASSCOM estimates that the industry would hire 150,000 people this year, and the domestic market will witness 12 percent growth this year and would reach ` 66,200 crore. The growth rate has been estimated at 5.5 percent, on the back of increased cost efficiencies, utilization rates and diversification into new verticals. Direct employment in the Indian IT-BPO sector is estimated to cross 2.3 million, while indirect job creation is estimated to reach 8.2 million. The Indian economy is expected to grow at 8.4 per cent in the current fiscal (2010-11) and 8.5 per cent in the next fiscal (2011-12) as per the revised survey of professional forecasters released by the Reserve Bank of India (RBI). Let’s see the picture more clearly with how India and its competitors are equipped with the prerequisites of the business Competitors at a glance Country Philippines, Malaysia Advantage Good skill in English language Latin America Proximity, fewer time differences, English and Spanish speaking people Cost and language ability South Africa Disadvantage Small geographical size makes difficult for high scale of operation Strong currency, geopolitical instability in Mexico Slow growth, poor infra and connectivity *this table shows competitors other than China. Business attributes In addition to traditional factors such as language, education and connectivity, there is more that a financial institution should consider before outsourcing to a diff...
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This document was uploaded on 01/14/2014.

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