India continues to be the most preferred destination for companies looking to offshore their IT and back-office functions, despite the backlash against outsourcing to the country. Because of its large pool of technically trained resources and a very cost effective operating model, India is the preferred outsourcing hub of many corporations, who are looking to optimize and minimize their operating expense.
It also retains its low-cost advantage and is among the most financially attractive locations when viewed in combination with the business environment it offers and the availability of skilled people, according to various global management consulting firms.
India has retained its number one position even as some other well-established outsourcing hubs dropped in their attractiveness to be replaced by new emerging destinations. The global economic slowdown and the rising dollar have taken its toll on most Eastern European countries, whereas new locations have emerged out of the gloom as preferred outsourcing destinations. Places like Egypt, the Middle East, South Africa, Tunisia and Vietnam have moved up in the pecking order.
India and Philippines together account for 50% of the world’s BPO market, but Philippines, often spoken of as threat to India, is only a ‘distant’ second, according to the study. Philippines is more back office oriented and is not necessarily growing at the same pace as China and some other South Asian countries. Some of the reasons that has made India number one continue and they will help it tide over the economic downturn faster than any other nation in the world.
Significantly, India is also no longer being viewed only as a competitor but also as an enabler to industry growth in other regions. Indian companies are growing at a rapid rate than ever, and clients are only happy to delegate the delivery of their entire projects to them. Indian companies provide the clients quality of service, a timely delivery and a strict IP and infrastructure guideline.
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