The future for the IT/BP industry holds bright. It is estimated that 56% of the BPO market could be India's by the year 2006 with the demand for BPO services increasing at an annual growth rate of 50 per cent during 2004-06. The pace at which the Indian BPO market is increasing is tremendous. The market of BPO in India is likely to be around $9-12 billion by the year 2006 and will employ around 0.4 million people. The BPO market is ready to fire up and India Inc is all geared for this big opportunity.
This is really great news for India Inc since we have to tackle the BPO
backlash as well. Though there are chances of this party being spoiled
by the US led backlash but then also India is sure to have a large share
of the BPO market. This will go a long way in making India the BPO super
power of the world. If the backlash stays on for sometime, then may be
India could only have a 42% share of the market instead of 56%. Though
it is a reality that companies outsourcing their business operations to
Indian BPOs have been saving a lot of money and also saving jobs of
their own countrymen.