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The business process outsourcing industry in India has grown by leaps and bounds and as its size increases so does its competitive advantage. Compared with 1996 when this Industry had started inroads into the United States with Outbound Telemarketing campaigns, today the vehicle for these calls-the internet has become cheaper and more reliable for the average Indian business. The business has boomed to the extent that many people are now running BPO’s out of their cyber cafes and houses in New Delhi. The sector witnessed considerable activity during 2004-05, including a ramping up of operations by major Indian and MNC players and stepped up hiring. The domestic BPO market, catalyzed by demand from the telecom and BFSI segments, matched the growth of BPO exports. The market experienced maturity and consolidation, a result of numerous mergers and acquisitions taking place within the sector. There were over 400 companies operating within the Indian BPO space, including captive units and third-party services providers. |
Why Indian BPOs?
The Indian economy is growing at a rapid pace, with India emerging as one of the fastest developing nations. The Business Process Outsourcing industry in India has truly taken wings and flying high. There are certain inherent advantages which have made India, well and truly the Business Process Outsourcing capital of the world. Let us look at them, one by one. - Large pool of English speaking manpower. India has in fact more English-speaking people than US.
- Great talent base of highly qualified engineers.
- Pro-active policies of the Government towards BPO and IT.
- Presence of Cyber Laws.
- A large number of software technology parks.
- Increasing competition amongst various states in India to attract Foreign Direct Investment.
- Globally viable communication facilities.
- Rapid pace of development of urban infrastructure.
- Quicker processing time for setting up of BPOs.
- Presence of dedicated IT corridors.
With all these inherent advantages, it is no wonder that India is emerging as a ‘knowledge economy’. Increasingly, the world-over companies are finding India the ideal destination for setting shop, especially, when it comes to BPOs. Advantages of Business Process Outsourcing: - Cost-effective solutions
- Economy of scale
- Better utilization of resources
- Superior competency
- Increased customer-focus
World over many companies are outsourcing different needs of different functional areas like transcription and voice based call centers, to service providers, who can offer them measurable and reliable solutions.
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