Business process outsourcing to India
From Wikipedia, the free encyclopedia
Business process outsourcing to India refers to the business process outsourcing services in the outsourcing industry in India, catering mainly to Western operations of multinational corporations (MNCs).
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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] Government of India has launched India BPO Promotion Scheme (IBPS) as part of Digital India initiative to encourage job creation in Tier-2 and Tier-3 cities.[3][4] India's BPO Industry handles 56% of the world's business process outsourcing.