According to estimation of Nasscom, over 660 multinational companies are coming yearly to India. And each company brings business of over 1 million dollar. Biggest reason for this attraction is cost. India has cheap labor. While, in US and other developed countries, rates vary from 55$ to 65$ per hour, in India, it ranges widely from $5 per hour to $26 per hour.
Offshoring is not just limited to software development but it ranges widely from software development, maintanance to other IT enabled services like call center and backoffice work. Nasscom expected indian revenue to be around 17 billion US $ but it crossed expectation to 22 billion $. It is because 400 out of top 500 fortune companies have their own centers in India or they are outsourcing to Indian technology firms. It is expected that, this growth will continue and Indian export will reach $ 48 billion by the end of year 2008 whcih will be 51% of total Outsourcing business. By the end fiscal year 2007, Indian outsourcing industry employed 1.05 million people and giving indirect employement to 2.5 million people.
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