'BPO industry growing at 50 % despite protests'

Tuesday, 20 July 2004, 19:30 IST
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NEW DELHI: The government said Monday the business process outsourcing (BPO) industry was growing at 40-50 percent per annum despite protests against shipping of jobs in some countries. The fast growing BPO industry is estimated to have generated revenues to the tune of $3.6 billion in the fiscal year ended March 31, 2004, Commerce and Industry Minister Kamal Nath told the Rajya Sabha. In the fiscal year 2002-03, the domestic outsourcing industry generated $2.35 billion in value terms, added the minister. "At the moment, only 0.35 percent of global outsourcing business comes to India. So, there is clearly a big potential for BPO companies in the country," said Kamal Nath, adding the industry is growing at the rate of 40-50 percent per year. On the issue of backlash in some Western countries against transfer of jobs to low cost economies like India, the minister said the government had taken up the issue with appropriate authorities. India's vast pool of English-speaking manpower, coupled with its educational system and training programmes, has helped transform the country into a global outsourcing superpower. The rapidly growing IT industry has virtually turned the country into an electronic housekeeper to the world, taking care of a host of routine activities for multinational giants.
Source: IANS
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