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As of 2012, around 2.8 million people work in outsourcing sector. [1] Annual revenues are around $11 billion, [1] around 1% of GDP. Around 2.5 million people graduate in India every year. Wages are rising by 10–15 percent as a result of skill shortage. [1] As of 2021, revenue of Indian BPO industry was estimated at US$ 38 billion. [2]
The opposing sides regarding offshoring, outsourcing, and offshore outsourcing are those seeking government intervention and Protectionism versus the side advocating Free Trade. [41] Jobs formerly held by U.S. workers have been lost, even as underdeveloped countries such as Brazil and Turkey flourish. [42]
The economic impact has been immense; India has grown it on-demand outsourcing services to over 38% as per 2010. Over 400,000 people are now employed in outsourcing services in India according to the Pricewaterhouse Coopers Survey 2012. In addition, the growth in Europe has led to increasers employment opportunities and overall growth in GDP. [9]
A call centre is an office with the capacity to field many telephone calls for a company. [1] Types of call centre work can include customer service and telemarketing. Factors that have made India attractive as a hub of call centre work from the English-speaking world include its convenient time zone, low labour costs, and large English-speaking popu
India, China and the Philippines are major powerhouses in the industry. In 2017, in India, the BPO industry generated US$30 billion in revenue according to the national industry association. [209] The BPO industry is a small segment of the total outsourcing industry in India. The BPO industry workforce in India is expected to shrink by 14% in 2021.
With seven of the world's top 15 information technology outsourcing companies based in India, as of 2009, the country is viewed as the second-most favourable outsourcing destination after the United States. [321] India is ranked 39th in the Global Innovation Index in 2024. [322] In 2023, India's consumer market was the world's fifth largest.
The United States has banned imports from another tranche of Chinese companies over alleged human-rights abuses involving the Uyghurs, targeting 37 textile, mining and solar companies, the ...
Cost saving is the biggest attraction for the western firms that outsource their legal work. India's legal services are widely considered affordable, efficient, and above all, skilled. For a legal job outsourced in India, the U.S. firm pays hardly one-fourth or one-fifth of what it has to pay in the U.S. for the same work. [18]