August 26, 2011: Nasscom report published recently stated that the Indian BPO industry has towered up to 16 times bigger than earlier and generated business of 16.9 billion U S dollars in the financial year 2011.
Nasscom – established way back in 1988 is a trade of Indian BPO located in Mumbai. With the long run objective to maintain the Indian’s top position in the Global outsourcing industry Nasscom conducts research and study to tap new opportunities for the industry as such and also forecast risk factors. The latest study conducted by Nasscom gives a clear cut idea on the current performance and status of the Indian BPO sector.
According to the report the Indian IT and BPO industry is working very well and has achieved the vision to become a leader in the race. The sector amassed amazing net revenue of 16.9 billion U S Dollars which is calculated to be 37 percent of the international revenue.
The report talks about the revenue generated by different segments of IT and BPO sector. Knowledge Process Outsourcing (KPO) has generated revenue of 2.9 billion U S dollars. The KPO sector is advanced and very efficient in providing service in the data management, data analytics and legal services. The detailed report also made it clear that the performance of Knowledge Process Outsourcing (KPO) sector is very high and has also generated job opportunities for around 70,108 people. The industry provides employment for engineers to doctors and graduates.
Nasscom says that there is immense future market opportunity for the industry to grow more. There is an expected market potential of US $ 220-280 billion in the coming year 2012. The opportunities are available in verticals like banking, insurance and manufacturing along with other offshore services in the transport and traveling sector. More over the BPO firms can find opportunities yet to be explored in type of service provided, nature of work offered and geographical source.
Nasscom’s report on Indian BPO has crucial findings for the industry as a whole. The report also suggest that if efforts are taken in the right direction by the Indian BPO sector to exploit the innumerous opportunities still available then the industry can enjoy the benefit of maintaining the top position in the global BPO and IT industry for a long run.