The business process outsourcing industry in India refers to the business process outsourcing services in the outsourcing industry in India, catering mainly to Western operations of multinational corporations (MNCs). As of 2008, around 0. 7 million people work in outsourcing sector (less than 0. 1 of Indians). Contribution of BPO Industry to Indian Economy Indian economy is the tenthlargest in the globe by nominal GDP and the third largest when it comes to purchasing power parity [PPP.
Agriculture sector is the largest employer in India, although its GDP share has been declining with time as of. Since the BPO industry needs more skilled employees with low cost, it increases the opportunity of BPO, which impact on BPO growth in India For developed countries, it is better to outsource where they can reduce their How the BPO industry in India has emerged so much in a very short span of time.
The study will also explore the reason why western countries like UK and USA are outsourcing their processes in country like India.
535 Words Essay on BPOs in India Article shared by BPO or Business Process Outsourcing is an entire industry in itself wherein businesses in a certain country outsource some of their operations (usually back office) to other locations in the world to cut costs by using the cheap labor in these countries. In India, Business Process Outsourcing (BPO) is the fastest growing segment of the ITES (Information Technology Enabled Services) industry.
Factors such as economy of scale, business risk mitigation, cost advantage, utilization improvement and superior competency have all lead to the growth of the Indian BPO industry. BPO [Business Process Outsourcing has been the latest mantra in India today. As the current sources of revenue face slower growth, software companies are trying new ways to increase their revenues.
As the current sources of revenue face slower growth, software companies are trying new ways to increase their revenues. India's domestic Business process outsourcing (BPO)) market, with nearly 500 players, is set to grow at a compounded annual growth rate of 33. 3 to touch revenues of 6. 82 billion by 2013. The industry recorded a turnover of 1.
62 billion in 2008. India has emerged as a hot destination for BPO work in recent years. The success is mainly due to the fact that there is a ready availability of large numbers of resources fluent in English and the diligent and hardworking efforts put in by the companies in India that do BPO work.
India thus has some 56 share of the total BPO Industry, but a commanding 63 share of the offshore component. This 63 is a drop from the 70 offshore share that India enjoyed last year, despite the industry growing 38 in India last year. In India they were busy with the BPO industry, which was creating many jobs there. So the economic downturn actually helped the BPO industry. Because it was the ultimate chance for organization in the western countries to decrease the cost of human capital, only by jobs outsourcing.
Bpo Industry in India. BPO Industry in India A Report Business process outsourcing (BPO) is a broad term referring to outsourcing in all fields. A BPO differentiates itself by either putting in new technology or applying existing technology in The Domestic BPO Market in India: Scoring a Home Run!
The Indian domestic market has undergone a transformation over the past decade rising from the periphery to emerge as a viable, high potential opportunity for the countrys ITBPO sector.