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India is fast becoming a major outsourcing hub to the world and already has a booming $ 2.3 billion ITES market. Many organizations like the Nasscom, Boston consulting group and IDC India have predicted a highly positive development in the industry and estimate a growth of 60 -70% by the year 2006.
Of course with the growth of the industry there has been a sharp increase in the outsourcing jobs opportunities in India; an increase many believe will help India improve its economic and social stability in a major way.
Technologically advanced cities such as Delhi, Kolkata, Pune, Mumbai, Bangalore, Hyderabad and Chennai have really cashed in on this BPO wave with Bangalore alone employing more than 1 lakh BPO workers. Ironic as it may seem, as the Indian outsourcing market is booming, there has been an increased backlash among the US and UK markets especially among technical workers - a phase that is seen as temporary and likely to decrease in the years to come as the economy booms.
Outsourcing jobs:
The jobs created due to outsourcing are mainly back office and research and development jobs such as Call centers, transaction processing, Chip design, Software development services, financial research, medical transcription, IT consulting, product design, tax processing and the like. These outsourcing jobs are mainly seen in the financial, insurance, technical, software and banking sectors.
A study conducted by Boston consulting group indicates that the number of jobs in India due to outsourcing is about to touch 30 million by 2020 and with more and more companies and entrepreneurs setting up BPO operations in India that estimate seems to be quite a reality.
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