The National Association of Software and Service Companies (Nasscom) of India has predicted the country's Business Process Outsourcing (BPO) industry would grow 33 percent in 2008-09, local newspaper Hindu reported Tuesday.
Nasscom, the representative body of the Indian IT and Business Process Outsourcing (BPO) industry held its 10th annual BPO strategy summit here on Monday. The two-day event attracted more than 500 delegates in industry.
In his welcome address, Nasscom President Som Mittal said India's BPO industry was likely to grow at 33 per cent in 2008-09 and remained "fundamentally sound" despite the U.S. economic slowdown and the decline of the rupee vis-a-vis the dollar.
He pointed out that the industry provided direct employment to about 2 million people and another 8 million people indirectly. Nasscom's revenue target for the IT-BPO industry is 73-75 billion U.S. dollars in 2010 against about 64 billion U.S. dollars in 2007-08.
Mittal said that although the BPO industry had drawn attention for its rapid growth in the last decade, the maturity it had attained was much less readily recognized. One of the most important features of the road ahead would be the BPO industry's move into smaller towns and even rural areas, he said.
The seven biggest centers for the BPO industry in India -- the National Capital Region, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad and Pune -- were likely to grow four-fold in the next 10years.
He said the industry's move to smaller towns was motivated by the fear that bottlenecks of various kinds, particularly those related to the infrastructural kind, were likely to impose heavier costs on the industry.
Source: Xinhua
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