Bangalore, Jan 29 (UNI) The Indian BPO sector, the 'destination of choice' for offshore delivery of business processes world over, is at inflexion point and holds potential of a five-fold growth over the next five years to achieve a turnover of USD 50 billion, according to a NASSCOM-Everest study.
Releasing the findings of the study titled 'Capitalising on the Expanding BPO Landscape', NASSCOM President Som Mittal said the BPO sector which is expected to achieve a business of USD 11 billion during the current fiscal can make a spectacular growth providing the government and academia provide the right impetus.
''Growing at a stupendous 35 per cent over the last five years, the Indian BPO sector, which has put India on the global map, has evolved tremendously since its inception, not only in size but also in terms of maturity - service lines, service delivery capability and footprint,'' he added.
The industry, which had grown to over 1200 providers, today employed more than seven lakh people and supported 2.8 million other jobs and was also successful in taking away pressure on metros by moving to tier II and III cities. It had created job opportunities by hiring graduates of all streams and even undergraduates who had hitherto struggled to get jobs,'' he said.
''We need a better backup from the government and the academic in providing better business environment, suitable infrastructure and a constant supply of talent. This industry can add 2.5 per cent to India's GDP from exports, provide employment to two million people by the year 2012 and spur growth in smaller cities,'' he said.
He said the buyer analysis of offshoreable components that could be tapped by India had showed that the BPO industry had the maximum addressable market of USD 220 to 280 billion. The Indian BPO industry's footprint extended to over 30 cities within India and over 75 cities across 25 countries.
The study called for concerted and collaborative action by various stakeholders to create an enabling 'ecosystem' for future growth of the industry. It had identified eight action themes for the industry to realise the potential.
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