India stands high as offshore destination for IT, BPO

Bangalore, Aug 7 (UNI) India has strengthened its leadership position as an offshore destination with an estimated share of 65 per cent of global offshore IT and 46 per cent of global BPO business.

The two-day event, ''NASSCOM India ITeS-BPO Strategy Summit-2007'' which concluded here today came out with a 'Best Practices in Ethics' framework for the sector directed towards effective manpower development, the most crucial aspect of the industry.

The Indian ITeS-BPO exports grew from US Dollar 6.3 billion during 2005-05 to USDollar 8.4 billion last year.

NASSCOM President Kiran Karnik said the addressable market for offshore BPO globally stood at USDollar 150 billion, leaving enough headroom for further growth.

''India is already the leading skill-surplus destination and will continue to be so in the next decade due to its lead in five key dimensions like competitiveness, abundant talent, quality and scalable infrastructure, operational excellence and conducive business environment and growing domestic BPO market,'' he said.

In order to maintain this leadership, NASSCOM ITeS-BPO Forum is focussed on addressing the specific needs of the industry and further consolidate 'Brand India' in the sector worldwide.

NASSCOM had launched various initiatives to generate awareness and create opportunities for the young talent to work in this booming industry.

It would be organising a series of road shows in smaller cities in 14 states with main stress upon the North-eastern states.

The ITeS-BPO sector had become a major growth catalyst for the Indian economy given its multiplier effects on income generation and job creation.

However the industry faced a set of challenges which if not addressed may impact the current growth rate in the long run.

The challenges included rupee appreciation and talent management both in terms of suitability, attraction, development and retention, NASSCOM said.

UNI