India News and Travel Times Provides India-centric and other News and Features

Som Mittal, President of National Association of Software and Service Companies (NASSCOM) has said outsourcing business in India has witnessed more than nine times growth, from 1.6 billion dollars to 14.7 billion dollars in the last decade. Addressing media persons here on Wednesday, Mittal said: "In this last decade, from 1.6 billion, we rose to 14.7 dollars." He further said that India's back-office outsourcing business would post a growth of 15 to 16 percent in 2010 to March 2011 on growing demands from overseas clients. There is a growth in the employment sector as well, as far as the BPO industry is concerned. He pointed out that even two-tier cities have become the hub of IT industry and software development. "Today, BPO industry is in 50 cities and towns. I think that's very significant, so, a large part of the business did come from top six-seven cities, but the fact that they are already in 50 cities, is very significant," he added. "Several new upcoming areas such as procurement services, healthcare outsourcing and knowledge services, which include services such as research and analytics, legal services outsourcing, financial research and data management, are expected to aid the growth of the BPO industry in the future," Mittal said. NASSCOM is the premier trade body for the IT-BPO industries in India.

BPO witnesses rapid growth in the last decade: NASSCOM president