Outsourcing Industry making its mark on Indian Economy

Outsourcing Industry making its mark on Indian Economy

The outsourcing industry is the new trend in town for Indian economy. With more US and European companies pooling in for the outsourcing services, India is the most favored choice destination regarding the same. The Business and Knowledge Process Outsourcing is the most preferential segment in the industry. The KPO industry segment is striding fast with a revenue base of USD 20 billion in FY2013. The segment performed well even in the global meltdown scenario in the previous years. The BPO segment also generated handsome revenue of USD 32 billion in FY2013. The industry now poses to be the highest private sector employer in the country. With some of popular players into the industry, it has attracted some of the major foreign companies mainly from Unites States and United Kingdom.

The Indian market is primarily gaining attention because of cost effective labor force. The highly skilled labor force with proficient English speaking fluency is churning revenue for the industry. The customer friendly infrastructure is pulling in a lot of companies. The working hours being 24×7 caters to the requirement of functionality in different time zones. The global leaders in IT and banking services have their branch location in India facilitating the quality of service and banking services smooth and prompt. With almost 200,000 individuals graduating each year with educational qualification in relation to Information Technology, Computer Science and Engineering and such like, this industry is providing excellent employment opportunities. The other upsides of the industry are the modernized software to aid the services of the industry and the swift turnaround time. This industry is also helpful in efficient work delivery without the hassle of hiring professionals saving a significant amount of time and effort. The most highlighted segments of services are knowledge providing, research and analytics, customer support, data entry and analytics and such like. In case of research and analytics, many foreign companies have some unstructured data at their disposal. This data when structured and analyzed prove to be useful in framing business strategies. This approach has been formulated and utilized by many outsource service provider.

The driving factors along with industry upsides are predicted to boost the industry in near future. The industry is foreseen to register a growth of 14 percent in FY 2015. The Indian market is showing promising development in this industry as it accounts for more than 50 percent of the global IT & ITeS industry. With all the positive predictions, Market Quotient is ready for the outsourcing industry. The company offers research and analytics outsourcing services to global clients. With innovative and state-of-the-art technologies and processes, the data driven solution has helped its clients to outperform its competitor by improving business and operational performance. Market Quotient augments clients with foresight and knowledge, deep functional expertise, robust delivery model and a pragmatic approach to build capabilities and deliver a lasting impact on the markets. The company works across different industry verticals like BFSI, Education, Engineering, FMCG,Healthcare & Pharmaceuticals, Infrastructure, IT, Media & Publishing, Retail and Telecom to create and deliver the competitive advantages by developing skills and favorably navigating through the mighty times in their business operations

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