When Hillary Clinton bowed out the presidential race, the BPO industry went into jitters. The reason for their apprehension, Barack Obamas statement that he would stop tax sops to companies outsourcing work abroad. For the Indian BPO industry, this news was certainly not very heartwarming.
Are the fears really justified, is the boom time over? Is it time to fold the carpet and look for other paying ventures? Not quite says Nasscom. This BPO industry voice opines that the industry in India is not under any threat, the outcome of elections in distant United States notwithstanding. As if to further boost up confidence, industry analysts predict robust growth for the sector with doubling of exports and revenues in the coming years. They base it on solid figures-the Indian IT and ITeS industry grew to Rs 2,46,609 crore in 2007 from Rs 2,01,413 crore in 2006, representing a growth of 22.4 percent and the IT and ITeS exports market is likely to more than double to Rs 3,20,278 crore in 2012. Talk about mind-blowing numbers.
Indian companies have also spread their operations to Europe, Australia, Japan, providing hope to those keen on continuing in the industry. Though there is a sense of fear about growth prospects of the sector as a whole, industry watchers are not too perturbed and that should bring cheer into the hearts of BPO ites who cannot dream of a career in any other industry. Moreover, the wait is almost over, since the elections in the US are just around the corner, until then let us keep our fingers crossed and hope for the best.