Indian outsourcing industry is continuing its journey as the global leader in outsourcing market and 2012 is considered to be a landmark year for the industry. According to NASSCOM, the trade body for Indian IT-BPO sector, the sector is expected to cross $101 billion this year. Despite the uncertainties popping up in the global outsourcing market owing to slow recovery of U.S economy from Wall Street crisis coupled with Euro crisis, Indian BPOs have maintained their growth. The factors that are contributing to this success are the ability of Indian IT-BPO companies to innovate and deliver better quality services to their clients.
Indian IT-BPO companies have gone a long way from being just service providers to strategic partners for their clients. According to the reports from NASSCOM, the industry is now concentrating more on expanding to new geographical locations and unexplored markets where they can attain a growth 1.4 times more than in the matured markets. Other statistical highlights for the year 2012 are given below:
- The export revenue from BPO-IT Companies is expected to cross $69 billion.
- The export revenue from IT companies is expected to grow by 16% and revenue from domestic market is expected to grow at a rate of 9%.
- The domestic revenue from the IT-BPO is expected to cross $31.7 billion.
- India increased its market share in the global outsourcing industry to 58% in 2011 from 51% in 2009.
- Revenue from software and services excluding hardware is expected to cross $87.6 billion for the year 2012. The software and services includes 87% of the total industry.
- Out of the software and services export, BPO services will account for about 23% and IT services about 58%.
- The industry is expected to generate 230,000 jobs for the year 2012. Out of the 230,000 jobs generated, 2.8 million people will be employed directly 8.9 million people indirectly by the industry.
- When compared with the GDP growth of the nation, the revenues from the industry are estimated to cross 7.5% for the year 2012 from 1.2% in the year 2008.
- The sector’ share in total exports of the country has increased from 4% in year 2008 to 25% in the year 2012.
- Despite of the challenges in the global market, Indian IT-BPO companies continues its growth by adopting new business models and diversifying to new verticals.
The BPO Company’s constant effort for operational excellence, deep focus on changing market climate, adoption of latest technologies like cloud computing to serve their clients is the main contributing factor to achieve these milestones by Indian IT-BPO industry.