Indian IT-BPO sector revenue to cross $100 billion mark in 2012
Indian IT-BPO sector revenue to cross $100 billion mark in 2012
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In 2011, India's share in the global sourcing market rose to 58 percent in 2011, up from 55 percent in 2010. Export revenues (excluding hardware) were valued at US$ 69 billion, or a growth of 16.3 percent. Domestic revenue (excluding hardware), on the other hand, was valued at INR 918 billion, or a growth of 16.7 percent.
Despite challenges in the global market conditions, NASSCOM said India sustained its growth trajectory because of the introduction of new business models, organization efficiencies, services around disruptive technologies such as cloud, mobility, analytics, social media, and flexible product portfolios and verticalized solutions.
“The industry performance this year demonstrated the sector’s ability to innovate and deliver differently in order to maintain the growth trajectory. The Indian IT companies are investing in building platforms and productized solutions to drive future growth opportunities. More importantly, the industry is expanding into newer geographies and verticals where the growth is 1.4 time that in the mature markets. The emergence of a vibrant start-up product ecosystem creating solutions for India and the world also enhanced the product opportunity for India," said Rajendra Pawar, Chairman, NASSCOM, at a press conference.
Som Mittal, President, NASSCOM, said verticalization, operational excellence and an expanding global delivery model were the internal priorities of the industry in this year.
"“Indian IT-BPO firms have matured from being service providers to strategic partners to their customers – highlighting their importance in enabling growth of customer businesses," he said.
India retains its number one position as the world’s leading sourcing location for IT-BPO services, despite the rise of several alternative sourcing locations, with a share of over 58 percent in 2011. India-based resources are estimated to account for about 60-70 percent of the offshore delivery capacities across the leading multinational IT-BPO players.
The IT-BPO sector continues to be one of the largest employers in the country, directly employing ~2.8 million professionals, with over 230,000 jobs being added this year.
It is true that India is
It is true that India is getting a lot more people working than any other place in the world. They work hard and they work for very little money but in the IT world they seem to have some great knowledge.
Outsourcing to India is a strategy that is being promoted especially in the IT world and it is probably because they do not break the companies like other IT professionals do.