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Indian BPO sector expected to list revenues of $225 bn by 2020 |
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According to a new report, Indian IT-BPO industry is expected to register revenues of $225 billion by 2020, of which exports will account for about $175 billion.
The BPO industry also has the prospective to generate an additional $150 billion in revenues, provided it takes some measures to convert the business environment, infrastructure, talent development and innovativeness.
As per the report, Perspective 2020: Transform Business, Transform India, by industry association Nasscom and McKinsey, few threats to India`s competitiveness is a shortage of employable talent, inadequate infrastructure development and growing competition from emerging outsourcing destinations such as China and Philippines.
McKinsey partner Ranjit Tilankar said that the projection of $225 billion in revenues is based on a few theories. These include some basic academic reforms such as collaboration with industry on curriculum and increase in employability of graduates from the current 10-15%, at least a 5.5% GDP growth and no impact of protectionism.
He added, "Protectionism could put about $50 billion of the projected revenue at risk."
The industry would also take up about 12 million people directly by 2020, against 2.3 million now. The report said that for achieving higher revenues of $375 billion, India needs to initiate reforms in tertiary education to allow private players to play a role in education and develop itself as a research and development (R&D) and innovation hub.
(Posted on : 22/04/2009)
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| Indian BPO sector expected to list revenues of $225 bn by 2020 |
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