Bangalore, Nov 9: Reports suggest that India is all set to lose upto 2.5 lakh jobs in Business Process Outsourcing (BPO) sector. Yet another impact of global economic crisis. The layoffs are likely to take place in the first quarter of 2009. The BPO sector is seeking urgent government intervention to the crisis. Also it is seeking a bailout to avert job loss. BPO's are demanding extension of tax relef from five to ten years.
Samir Chopra, President of Business Process Industry Association of India (BPIAI) said that the only gain in this job cut was that the recession would require more companies in the US and the Europe to view outsourcing as a way to cut costs and improve competence. Fiscal and administrative measures such as extending tax relief for another 5-10 years and export promotions steps, including market development fund can also be an option, he further said.
Chopra also said the Nov 26 Mumbai terror attacks have led to the widespread cancellations of visits and forthcoming international events.
OneIndia News (With inputs from Agencies)