Bangalore: India dominates global outsourcing market. Banking and financial services contribute nearly 40 percent to India's outsourcing industry. By virtue of certain advantages India has been able to maintain its supremacy over its rivals in the BPO industry but there are a number of other countries, which can give India run for its money in Business Process Outsourcing.

Some of the closest competitors of BPO India are China and Philippines. The Philippines advantage, besides skilled are English educated work force and familiarity with American work culture and lightly accented English language. Another comparative advantage the Philippines enjoy is the superiority of its telecom infrastructure which is more safely set up and maintained.

The workers in Philippines are more familiar with foreign languages like Spanish, German, French and Japanese and are used to the American culture too. Philippines are the second largest BPO industry in the world which has been snapping at India's heels for a while now, with an industry built on cheaper manpower, tax breaks and government investment in infrastructure. The island nation currently ranks number one in the availability of knowledge based jobs, workers and fourth in labor quality in all of Asia.

Executives say the growth was not by wage considerations. Filipino call center agents typically earn more than their Indian counterparts but executives also worth the extra cost because American customers find them easier to understand than they do Indian agents.