Business process outsourcing India enjoys a commanding share of the global market when it comes to the outsourcing industry. It is, after all, one of the leading choices around for an offshore outsourcing destination. The BPO industry has evolved from offering low-end services such as data entry jobs to high-end services such as web development, content writing, and telemarketing.
The history and evolution of the business process outsourcing India and its industry has seen a major shift over the past few years. The earliest history of outsourcing in India was during the 1990s when the country was also raring to compete in the looming globalization of industries. The Indian government has sought ways to establish economic reform and the first telecom sector in the country was introduced in 1994 until it eventually led to establishing the “New Telecom Policy” in 1999.
Then, the level of poverty in India has compelled its government to seek out ways to improve the state of education in the country. As a result, they have managed to produce high quality IT graduates and professionals. It was therefore a matter of discovering an industry that would open up job opportunities to accommodate the growing list of unemployed graduates. By the time the BPO industry was introduced in the country, there was already a large pool of skilled professionals that are ready to take on the challenge.
Business process outsourcing India has created a ripple effect on the economy, not just for India but in a global scale. First off, it has helped create more jobs and is therefore a very huge prospect for all the young professionals in India raring to secure employment. But the benefits are not solely felt in this outsourcing destination alone. Businesses who have opted to otusource portion of their business processes have also managed to thrive even with the threats of recession such that most have even increased their profit margins. As a result of that, they have kept their in-house staff intact and are preventing layoffs. There are more benefits in store as the $6 billion industry is expected to produce up to 125,000 new jobs.
The value addition that business process outsourcing India has to offer is another notable benefit of this business method. By offshoring some or your full business processes, a lot of organizations have noted an increase of between 15 to 20 percent in their productivity and quality of services. The reason for this is that you are hiring people who specialize in providing the services you need, which enables you to get projects done in a timely manner and in the quality you expect.
Aside from the benefits to the industry, the biggest beneficiary to the success of the outsourcing industry are the Indian youth that are employed in the industry. The growth of the BPO sector has given the youth a make over such that they are financially independent, ready to take challenges, and are confident in their own skills. After all, many experts have cited how the BPO sector offered a platform for young talent to become identified.
Indeed, there are several layers involved with business process outsourcing India that make it such an integral part of the economy. More importantly, it is not just the Indian economy that is benefiting but the global economy as well.