BPO in India slated for $13.8 b by 2007

Recent reports by Gartner Inc. predict that India would pocket in $13.8 billion dollar market for Business Process Outsourcing (BPO) and back-office services by the year 2007. The research firm also foresees an increase of 38% in BPO in Indian segment at the end of fiscal 2003.

BPO industry in India is rapidly growing. Headed by the likes of GE Capital and Amex, BPO in India has witnessed massive growth in the last few years. Though the IT services/ software industry growth had been slowing down recently, BPO have emerged as strong employers, absorbing large number of fresher and also people experienced in relative area of profession.

Research VP for Gartner, Sujay Chohan states that the growth in offshore BPO during the next couple of years will be significant, due to contract expansions and new adopters. Outsourcing ones services to the individual firms had lately been on an upward rise in the corporate sector in the west and Europe. More business in BPO in India is on the cards as top 1000 firms from Europe consider outsourcing within next two years.