Outsourcing

It was a Saturday Morning at around 5 am, I have decided that I am going to take care of my body. The moment the thought came in my mind, I woke up and hit the road to jog. Leaving me to surprise, I started noticing more cabs rather than people on Bangalore roads in early hours.
Recapturing my memories about outsourcing made me understand the reasons for it and the dominance of this topic in US presidential elections gave me enough hints.
India emerging as the first choice for US, UK and Australian countries to outsource work not happened overnight. Can we call it the magic of dollar or the talent of Indians? Let us find out the reasons for India raiding high on outsourcing.
Western countries farm out work from their home base to other countries, largely in an effort to cut costs. Countries like US, UK and Australia started transferring technology development, customer service, financial and administrative jobs to India from mid of 90’s. It was the time when we had quite a lot of unemployed graduates who can comfortably speak and write English. The level of knowledge we posses and the amount of efforts we put really made things easy for India. Within a decade, India emerged as the leader in outsourcing sector.
Are we equipped to sustain this growth and throw stiff challenge to China which is trying too hard to take a big piece of the cake? The true said of this is not so impressive.
Recent terror attacks in Mumbai really playing in the minds of American companies who want to do safe business. Growing wages in India and poor infrastructure in companies stand out as biggest hurdles in our growth process.
So, the best possible step to stay up in the market should start from the rulers of our Country. Terrorism should be stopped or at least preventive measures needs to be taken If India is pinning its hopes on establishing as the leader in this industry by 2015.
A recent survey suggests, India controls 51 percent of the global offshore outsourcing market for software and back-office services, with revenues of US$17.2 billion. Canada is the nearest competitor with a 32 percent share; China has 4.9 percent and Eastern European countries have 4.5 percent.
To some extent, the offshore outsourcing phenomenon may be self-correcting. Though outsourcing shows no sign of fading, rising wages and rapid turnover in Indian hubs may reduce the savings American companies enjoy when they send work abroad.
Thankfully, still we are considered as back office for many American companies.
But there is a clear warning demanding us to take initiatives to stand as Leader. Right from rulers to owners of Indian companies, everyone has to tighten up their seat belts to ensure that the glory attained by us remains forever.