Outsourcing profit in india
India: The worlds preferred outsourcing destination
India has been the worlds most preferred outsourcing destination ever since outsourcing began. With Indias high-quality and cost-effective services, global outsourcers were able to give their organizations a cutting-edge in the competitive field of business.
Outsourcing to India, can help you concentrate more on your core business functions. This would enable your organization to grow to greater heights. India offers an entire range of outsourcing services. Today almost any service which can be off shored can be performed in India. Be it call center services, engineering services, creative services or data management services, just name the services and you can outsource it to India.
India has well trained and skilled manpower. Indians unlike the Chinese can communicate well in both written and spoken English. This factor has set Indians apart in the global market, because when global outsourcers outsource to India, they do not need to face any communication barriers. In India, organizations are always updating and honing their skills to enable them to provide better and high-quality services. The cost factor of outsourcing to India has been yet another reason why outsourcers have been increasingly outsourcing to India.
With India being the leader in offshore outsourcing, lets find out whats in store for the world most preferred outsourcing destination.
NASSCOM has stated that Indias software and services would likely grow by 32.6% by end of 2007. Indias profits from outsourcing are likely to cross a whopping $31 billion by end of this year. The top outsourcing companies in India have reported an increase in revenue and profits. NASSCOM has predicted that India would achieve nearly $60 billion from the outsourcing industry by the year 2010.
Software and IT services would be contributing nearly $18 billion, while call center services would contribute $8.3 billion. Other services such as engineering services, research services and product development services are likely to contribute $5.0 billion. The IT and software services industry is likely to grow the most and is expected to reach $40 billion by the end of 2007.
Indias outsourcing industry has been predicted to grow at an annual rate of over 26% and would touch 60% billion by the year 2010. But for India to reach this target, India must improve the education system in schools and colleges and must also be able to train more personnel. This would be easy enough for India to do, because India already has a good education system and there has never been any shortage of skilled manpower in India. Although most Indians are fluent in both written and spoken English, India would have to work harder on the communication front.