The Indian outsourcing industry has, by and large, survived the global financial meltdown, despite the US having made some noises about jobs being exported by large corporations. The industry in India started growing in mid-1990s and continues to do so.
There are two broad sub-segments:
IT (Information Technology) software solutions and products.
BPO-ITES (IT Enabled Services) call centres and data processing.
According to NASSCOM (National Association of Software and Service Companies), the industry clocked revenue of US$ 58.8 billion in 08-09, of which domestic turnover was only US$ 12.5 billion. Even in fiscal year 08-09, when the financial tsunami hit, export revenue of the Indian outsourcing industry grew 16.3% while domestic BPO surged 21%. In 09-10, the industry is expecting a growth of about 4-7%.
The Indian industry has survived the global meltdown mainly because large banks, insurance companies and other financial institutions have large long term deals with Indian service providers, They are dependent them and importantly are satisfied with the quality of service they receive.
The Indian industry is generally ahead of its developed world counterparts in the knowledge-based sector in terms of gender wise composition of its workforce as about a fourth of all IT workers and software professionals are women. The proportion of women in this industry is rising steadily and women number about a third of total number of employees. After graduation, most women work for a few years for mid-sized companies and then they become part-time workers for the same employers. This actually reduces costs of companies and at the same time provides women an opportunity to keep themselves busy and earn some money at the same time.
Geographically, the industry is quite well spread now. Besides the globally known Bangalore (now Bengaluru), Gurgaon (near New Delhi), Hyderabad and Mumbai have become very large centres.
For further information about IT Outsourcing in India, please contact diya@gemini.com.hk
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