Growth of IT-BPO Sectors in India

5:03 AM Data Outsourcing India 1 Comments

Business Process outsourcing has become one of the most important part in the growth of Indian economy . In india’s economy, this industry is also effecting the live of the people through the various Socio-economic parameters such as employment, education and diversity. This industry is growing at an amazingly high speed, it has demonstrated a decade of strong growth. Indian information technology and outsourcing sectors continue to register impressive growth even though there were lot of anti-outsourcing measures taken by United States Govt. To discourage outsourcing they (US Govt.) hiked visa fees.

Extreme growth in employment has been continuously noticed since July 2009. In the first half-quarter 287,000 employment was created in Business Process Outsource and Information Technlogy, followed by 16,000 increase in metals, 13,000 in automobile industry and 6,000 in the transport industry.

The Indian Information Technology and BPO has had an extreme run in the last decade, contributing immensely to India’s growth.

The industry strongly contributes through direct channels and its also playing a key role in other sectors such as real estate, telecom and by creating demand for the ouput generated by these sectors. IT-BPO employees spent INR 76,000 crore in different such areas.

Being one of the largest organized private sector employees India, the IT-BPO industry is sharing its growth with other constituents of its workspace. It has played an important part not only in wealth creation for individuals but has also helped in supporting extended households.

In addition, this industry which has the largest employers in the organized private sector, its provides livelihood to the 2.2 million people. The NASSACOM-Evalueserve survey shows that 62% of the IT-BPO employees own an automobile, 84% spend towards housing and 42% are able to save more than 10% of their salary and around 22% of them own all of the three assets.

India is now expected to achieve an extreme growth in IT-BPO Industry, having an eye on the innovation. India is the current market leader in global outsourcing, serving approx 51% of overall global sourcing demand. 1 million jobs were created in organized sector of india in 2010-2011 most of them were in information technology and more outsourcing sectors.

The NASSCOM-Evalueserve survery says that “The IT-BPO Industry vision for 2020 includes building a $225 billion industry and lead the way in transforming business globally as well as transforming India.”