India rules as favourite global destination
New
Delhi,
Sept
07:
India
continues
to
rule
as
the
favourite
global
destination,
even
though
factors
like
emergence
of
cheaper
destinations,
employee
and
salary
crunch
are
adversely
affecting
the
sector,
a
recent
study
shows.
A recent study by recruitment solutions provider Elixier Solutions shows that India holds an edge as it commands global confidence to produce perfect Turn Around Time (TAT).
TAT is the time needed for performing a task, especially receiving, completing, and returning an assignment.
"At present outsourcing business in India is increasing at a rate four times more than any other country and the county has the resource and margin to meet the competition," a partner in Elixier Solutions Vipul Prakash said.
According to the study, growing at a rate of 40 per cent annually, India is the lead player in this sector followed by China at the second spot with a growth rate of 25 per cent.
"Certain companies restrain from outsourcing their practices thinking it to be a luxury practice which only organisations having deep pockets can afford," Elixir Web Solutions Associate Partner Jacob Samuel said.
Experts predict that the global market for shared services would grow to 1.43 trillion dollar by the end of 2009 from 1,000 billion dollar at present.
India and China being the market leaders in this sector, there are huge opportunities present in the market to give ample space to other countries like Philippines, Vietnam, Romania, Kenya, Sri Lanka and North America market to grow, the report said.
The study also said that it is unlikely that India would be able to retain its number one slot with China aggressively trying to outstrip it in the business, it would still be able to get a decent share of the pie.
Processes like human resource, insurance, life sciences, finance, legal services, technical support, risk management, supply chain and media would come up in a big way in terms of business and employment opportunities, the study added.
ANI
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