Countries like India took to outsourcing like a fish takes to water because of certain natural advantage like low costs, a vast pool of technically proficient manpower and wide spread familiarity with the English language. Views broadly outsourcing comprises of the following information, technology, human resources, engineering, customer service, legal services, knowledge based services, R&D. However, this advantages have been in a sense milked to the maximum and a new strategy has to be arrived at if India is to continue to rule in the industry in the foreseeable future. India needs to redefine its outsourcing industry to the world rather than on its laurels. An example is India could try and tap the cloud computing technology which holds the paradigm defining potential. The US healthcare industry being a case in point on an immediate basis Indian Outsourcing firm need a global makeover to enable them to participate effectively in markets where Information Technology has a dominating presence.
By 2020, the Indian Business Process Outsourcing market will in all probability continue to grow at a blistering pace in the time to come by some estimates it shall touch $225 billion. It would although auger well for the industry if it did not become complacent and factored in the challenges. The demand from the first world countries like New Zealand, Japan and Australia is expected to fall. There is likely to be greater competition from SAARC countries like Sri Lanka and Bangladesh. The India also needs to ensure that there is a great deal of innovation in the industry so as to maintain its cost competitiveness as well as high levels of the technical expertise. For instance, augmenting its hardware capabilities would be a good way of showcasing a diversified portfolio of products and services.
In the recent time in India, the growth and penetration of the broadband has grown substantially and it has grown substantially and as this trend continues more and more skilled people will be able to offer their skills to markets around the world. Outsourcing itself will acquire a paradigm shift in people’s perception as it will no longer be associated only with the humongous transnational corporation. People with the skills as varied as that of school teacher or an architect that can offer their services to far corners of the world. The outsourcing would have well and truly become irretrievably entrenched in India. In the world, with the greatest number of a young people , accounting for a huge number of well educated and trained people India that would be absolutely geared to accept all kinds of outsourced work from across the globe. India is well poised to continue its dominance on the global outsourcing industry for a long time to come, it provided to continues to innovate, hone its traditional skills and push for the greater broadband connectivity. There will be a serious challenges although India has it to rise to the occasion. The coming decade and beyond will continue to belong to India. The Business Process Outsourcing is concerned.
REFERENCE:
http://outsourceportfolio.com/challenges-opportunities-indian-outsourcing/
