Tech-savvy India to be top outsourcing destination
New Delhi, Mar 9: India will remain a top outsourcing destination, said global financial firm Moody's. This comes as a sigh of relief at a time when US President Barack Obama came heavily upon outsourcing.
"India will remain a top outsourcing destination because of its tech-savvy and English-proficient urban workforce whose wages are much lower than their western counterparts," Moody's economy.com economist Sherman Chan said.
However, Sherman was of the opinion that India's outsourcing will be hit by the global slump as demand for as demand for IT support or telemarketing has weakened significantly in recent months.
After global economy rebounds the business may slowly regain its normal stature, Sherman added.
The 40-billion-dollar Indian software and BPO export industry, mainly driven by outsourcing, draws 60 per cent of its revenues from the US.