DesiToob

With signs of steady recovery from the global economic downturn, the Indian business process outsourcing (BPO) industry together with the information technology industry is expected to experience a growth in the total number of exports. The recent reports reveals that the total exports will touch $50 billion in this present financial year, thereby expecting to mark a growth rate of more than 5 percent or so.  

The National Association of Software and Service Companies (Nasscom) in its yearly performance report has focused on some more interesting facts. As per the reports, it has been predicted that export revenues are more likely to increase 13-15 percent in the next fiscal year thereby crossing the $57 billion mark.

Reports also suggest that the United States will continue to be the main dominant market as pointed out in the survey. Recent survey figures also point out that the domestic BPO-IT market will reach out Rs.66, 200 crore, thereby offering a growth of about 12 percent. On the other hand, the next fiscal year will experience the growth in domestic revenues by 15-17 percent, clocking to Rs 76,100-77,500 crore figure, chiefly due to the government spending on the IT sector.

The recent Nasscom report also points out that the industry will continue to remain the net hirer whereas the direct employment in the IT-BPO is expected to cross 23 lakh. On the other hand, the indirect job estimation is likely to reach 82 lakh. In the words of Nasscom President Som Mittal- In the current fiscal year, more than 90,000 new jobs are supposed to be added while in the following fiscal the total number can climb up to 1.5 lakh.

Som Mittal- the Nasscom President also went on to say that the protectionist move of the US government will not have any major impact on the overall Indian IT industry. He also added that the industry is expanding at a rapid scale into the tier II and the III cities, where more than 58 percent employees act as the main workforce, thereby influencing its growth. It is significant enough to point out that the Indian BPO industry has recorded a record of 3 lakh jobs annually even before the phase of economic recession.

The Nasscom Chairman also pointed out that the performance of the Indian BPO-It industry is found to be far stronger than what is actually reflected through the growth figures indicated in the report. He said that the business process outsourcing (BPO) industry is in a process of reinventing itself by means of utilization rates, cost efficiencies and diversification into the new verticals to create new pricing and business models to renew itself from the economic slump.

Indian BPO experts also indicated the fact that the coming years will move on to represent a shift. Now this shift will be in terms of the service lines, the talent structure, business models etc. The industry will also mark increased focus on the high end offerings. These will include knowledge services, business intelligence, system integration consulting and the other vertical special BPO services.