Outsourcing was considered a taboo in its early days, but slowly it is proven as one of the most significant business models. The rosy days of the global economy are gone and so, while, lowering financial liabilities, organisations have to sustain the quality of service and employ a workforce that is economically affordable and efficiently skilled. Many countries like China, Malaysia, Philippines, Mexico, Indonesia, and Thailand are rapidly growing as preferred destinations for global outsourcing, but India leads the race by a wide margin since the inception of outsourcing. So, let’s see why and how India managed to remain in the spotlight. Cost Effectiveness Every business strives to be as cost effective as possible, and one of the best ways to cut down on operational costs is to reduce manpower expenses. India qualifies well on this metric and hence attracts foreign companies to invest here, as resource wages are comparatively lower as compared to other countries. With low labour costs, immense human resources and excellent infrastructure, offshore companies can invest and expect their projects to be completed with high quality and minimum expenses within strict deadlines. Skilled, Professional Manpower Currently, India has about 2.75 million software developers in the national workforce. By 2018, this count will reach 5.2 million, a whopping 90% increase. India’s software development growth-rate is attributed to half the population being under 25 years of age and current economic policies. India is a budding hub of developers and coders, promising to provide world-class services to outsourcing companies. Apple Inc., the leading technology giant, is looking into setting up a company-owned, technology development centre in India. If this happens,...
