Gone are the days when the educated, talented youngsters who just passed their college exams had only a handful of companies to look up to for employment opportunities. Today, the students have the choice of selecting which company and at which package would they want to work. Thanks to the complete concept of "Outsourcing to India" that has changed the face of today’s India to a completely different and a very competitive world leader in global economy.
Outsourcing has become the talk of almost every employed person today and is also called the order of the day. India is chosen as a preferred partner to every nation, especially the United States of America, to meet the growing needs of their business in terms of outsourcing to India. However, this has not been an overnight’s stand. The IT industry in India has been booming since early 1980s, but the real outsourcing business flourished only in mid 1990s. Some of the services that India saw flowing in, which commenced outsourcing in India, were customer support, medical transcription, medical billing and data processing.
Owing to this flush of services, many young minds in the country got an opportunity to start their one-room companies and wholly owned subsidiaries to cater to these offshoring requirements of foreign companies. The boom was so high that such players who started with one-room companies in early 1990s today have built a successful empire out of it. Few such players who started early in the outsourcing market in India were GE Capital, American Express and British Airways. All this started because many foreign players could realize utmost benefit by choosing India as their leading outsourcing partner. Some reasons for this shift were better services in the Indian market, cost-effectiveness, increased productivity, increased efficiency reduced operational costs, shared risks, increase in the quality. Owing to outsourcing to India, these companies are in a better position to concentrate on their core business activities, while India takes care of all their value-added services.
India, today, is a pioneer in providing optimum outsourcing solutions to almost all the nations of the world. A US-based company rightly called India as the Outsourcing Hub of the world. India provides a number of benefits to companies when taking in charge of their outsourcing business faster time to market along with greater flexibility and high quality of the services rendered are some of those benefits. In addition to all these benefits, two other important reasons why India has become a major player in the outsourcing world are the best-of-breed infrastructure and state-of-the-art technology, which has made India hold a strong position in the global economy. Because of all these, outsourcing to India is on its highest today, and India serves as the global hub for all services related to software development and software-enabled services.
Many companies that outsource their functions to India have gained a competitive edge over their competitors, yet the potential of India and its manpower in exploring new business areas still exists. Therefore, although India has grown as an outsourcing hub for the world, the happy days can be anticipated for many years in future.
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