For India, many emerging geographies are becoming competitors in the outsourcing industry. Nevertheless, the country continues to dominate the space and retained its title as the outsourcing hub in the world. India produces more than three million graduates every year and industry bodies like Nasscom are fine-tuning their message in terms of how they would make industry-ready professionals, how they work with universities and how they drive more technology-oriented business process models.
With the availability of people who speak fluent English, mathematics and technology, it will continue to rule the roost in terms of volume, size and skill for a long time. The nation holds a 44 percent share of the worldwide offshore outsourcing market for back-office and software services. It enjoys the confidence of major corporations and nowadays has over 95 countries outsourcing their work to the place. More than 82 percent of American firms grade India as their first choice in IT outsourcing.
Everything worked well with the land, the time she opened her markets, during the time that computers came to the country, the technical expertise growth and the generation of expert IT professionals. Most of all, its large population provides the biggest pool of IT talent, professionals and graduates. Not to mention the English speaking capacities. The value proposition the country has is getting high quality expertise at low costs. Why would a company not chose to outsource there if it could get 40 percent savings without compromising quality?
Today, India is the most sought after sourcing destination, due to the following reasons:
1.It has the biggest pool of software brains with 120,000 trained information technology professionals added to the field on a yearly basis.
2. The conducive business scenario and growing market.
3. Commendable work ethics by service providers.
4. Approximately 2.1 million graduates pass out of colleges and universities.
5. It has the biggest English speaking population.
6. Cost efficiency with quality.
7. Infrastructure and manpower.
8. Friendly customer relationships and cultural compatibility.
9. Creativity and innovation combined with intelligent solutions.
Nasscom states that 25 percent of Indian engineers possess the basic skills for offshore jobs, compared to 10 percent in Russia and China. Aside from the cost advantages and technical expertise, there are specific considerable factors that have and would continue to influence the choice of the world of the country for outsourcing. These factors include favorable government policies, political stability, international reputation as a responsible country, mature legal system and the existence of regulatory authorities to ensure security.
The nation is still head and shoulders ahead of the competition. Market researchers and experts declared that it continues to rule the market. It is predicted that it will continue enjoying the lion’s share of world offshore spending on software services. These days, Nasscom has taken a progressive step through recognizing that the business process model is different from traditional information technology services. It has created several councils to support sourcing, start-ups, products and engineering services and more. The nation is completely focused on re-branding in the industry. These days, organizations recruit highly-qualified and high-profile people from India.