by Staff Correspondent on December 31, 2004 03:57AM (EST)
India's fledging outsourcing industry is poised to grow by 40 percent in year 2005 as the country's information technology industry continues to impress the world with its low-cost, high quality service.
According to a study by India's software industry, outsourcing will continue to grow and will bring in $20 billion in revenue in the coming three years.
India's offshore companies survived a major scare. They feared that if elected, John Kerry would have pulled the plug on outsourcing. But with Bush's reelection, India's outsourcing industry looks secure, at least for another four years.
A study by the AMR research says that up to 15 percent of IT jobs required by U.S-based companies will be performed in India by 2010, helping the U.S economy to create investments worth $30 billion per year.
The study said the cost savings from offshore outsourcing would create an additional $30 billion per year in new investments for U.S companies. By then, the Indian IT labor force will be larger than 3 million, and half of the workers will be performing jobs for U.S companies.
India Inc. is delivering high-value, low-cost services. While Indian providers struggle to understand all the intricacies of the U.S. and European markets, a focus on process, quality, and low cost will make them hard to beat in the long term.
Reference: http://washingtontimes.com/upi-breaking/20041220-121530-2354r.htm
