India leads global BPO market with 37 percent share: Nasscom

By siliconindia   |   Thursday, 25 August 2011, 00:51 IST
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Bangalore: The BPO industry in India has become one of the most significant growth catalysts for the Indian economy. In the last decade, the industry has grown 16 times in size, to reach $ 16.9 billion (including domestic) in the FY2011. In addition to fuelling India's economy, direct and indirect employment creation is estimated at 4.5 million, reveals a report by Nasscomm in association with CRISIL GR&A. The report is titled "India Knowledge Services Industry" details the growth of knowledge services industry in India and its impact on the industry and customers India is the leading BPO destination, accounting for over 37 percent of total global sourcing BPO revenues, followed by Canada and Philippines. According to the NASSCOM-CRISIL Report on "India Knowledge Services Industry," the global knowledge services sourcing industry comprising of market research, business research, data management, data analytics and legal services was estimated to generate revenues of $ 2.9 billion in the year 2010. India is positioned as a knowledge services powerhouse, with 70 percent share of $2.9 billion global industry with revenues of $ 2 billion, generating employment for 70,108 people in over 100 firms. While India-based companies are providing established services such as market research, and business research, the industry has emerged as pioneer in areas such as analytics, data management and legal services. They have proactively driven adoption of new applications in these areas leading to significant business impact, hitherto non-existent, on clients. The knowledge services industry employs a diverse and skilled talent pool-engineers, statisticians, lawyers, doctors, arts, commerce and science graduates, post graduates, and diploma holders, in addition to offering clients access to a multitude of skill sets. While growth in the last two years saw some moderation owing to the global recession, the potential of the industry is unquestionable with opportunities in both mature and emerging services and verticals. Here is the executive summary of the report. Knowledge Services Outsourcing: A Global Perspective
global perspective
The growth of the Indian BPO industry has been both phenomenal to behold, and inspirational for other countries to follow. The most defining aspect of this story has been the industry's ability to continually expand horizons, enter new markets, offer a wider range of services, and at the same time, keep moving up the value chain to successfully deliver higher value, complex business critical services that are not transactional and require deep domain expertise.

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