IndoBase Business Process Outsourcing

This is a short essay on the growth of BPO industry and outsourcing in India. This also throws light on the future and prospects of BPO in India.

BPO : Future Prospects : Growth of Indian BPO Industry

Growth of Indian BPO Industry

According to studies conducted by NASSCOM and leading business Intelligence Company, McKinsey & Co. the Indian IT/BPO segment is expected to employ over 1.1 million Indians by the year 2008. Market research shows that in terms of job creation, the ITES-BPO industry is growing at over 50 percent. In the financial year 2003-2004, ITES-BPO companies were the largest recruiters in the IT/ITES sector, adding a total of about 70,000 jobs.

An estimated 70,000 new Jobs expected in 2005 in the field pf ITES. Plus there will be additional hiring to replace industry attrition that is around 25%. On the other hand BPO and outsourcing services would generate around 1, 25,000 new Jobs in 2005. McKinsey & Co. predicts global market for IT-enabled services to be over $140 billion by 2008. In that the opportunity for India will be around $ 17 Billion.

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