Earlier many global organizations were skeptical about outsourcing work to the Indian continent. But today, organizations are considering the amount of work they can outsource to India. The manpower strength in Indian companies providing offshoring services has grown tremendously over the past few years. For organization in the US and UK outsourcing has become the order of the day.
Although India is facing issues regarding, bigger paychecks, infrastructure and heavy competition from other countries, India still holds the numero uno position in the world of outsourcing when compared to China, The Philippines, Canada etc. The IT capitals of India are continuing to grow at an ever-increasing pace.
The IT Industry’s revenue in India has grown tremendously. NASSCOM’s strategic review for 2007 states that India’s revenue has grown from 4.8 billion back in the year 1998 to $47.8 billion in 2007. India’s revenue back in the year 2004, was $12.9 billion.This is expected to touch $31.3 billion in 2007. India’s top organizations have all had tremendous growth in their profit and revenue during the last year. India, after seeing great success in application ventures, has started concentrating on infrastructure and business processes. On the whole, India is expanding her capabilities in outsourcing.
Outsourcing Analysts believe that there will be an increase in the amount of work outsourced. Although there is stiff competition from China, Russia, etc India will not be affected, but will continue to grown and expand. India provides a number of advantages, which include expertise services, low operating costs, high-quality services and increased revenue. All these have given India an advantageous edge in the outsourcing market.
Today’s organizations have to make the most of outsourcing and globalization and learn to tap the advantages of outsourcing. If not, they face the risk of being left behind.