India Well-Poised For Europe Outsourcing
March 3, 2011
In an article on iblogaholic.com, India was touted to be the leader in offshoring because it was able to bridge the cultural gap between countries. And this may be true, since India itself is a melting pot of various cultures. Apart from that, Indians have now emigrated to just about every nook and corner of the globe.
Alongside this is the added plus that India managed to survive the 2008 recession surprisingly well. Although the spread of the credit crisis stoked by a housing recession in the U.S. was minor in Asia, the Indian outsourcing industry has maintained its growth in the latest figures up to the last quarter in 2010.
According to reports, although there were some firing sprees while companies were restructuring during the recession and post recession periods, employees were able to find alternative jobs rather quickly. This speaks volumes for India’s blistering economy, which is expected to pace between 7-8% in the current fiscal year.
Yet another factor that influenced outsourcing to India is that it offers a cost efficient solution, no matter how you look at it. Currency value of the dollar has decline in comparison with the Indian rupee, which gives a boost to buying power from clients like Infosys and Wipro in India. Moreover, skilled labor in India remains high. With skilled labor available in large proportions, a number of companies overseas may be serviced using these employees. European firms are now catching on to the idea of outsourcing to India and following on the heels of U.S. counterparts. In fact, Europe now offshores a large proportion of its software, web developing, programming, and developing assignments to India.
Apart from ranking in the top spot in skilled software, BPO and IT job creation, India is also the leader in offshore outsourcing worldwide reports iblogaholic.