Offshore Outsourcing India and its History
Offshore Outsourcing India, one of the most demanded spot for overseas services has very interesting history with it. The overseas services (outsourcing) history of the country is one of the phenomenal growth in a very short span of time. The main reason behind the idea of the overseas services is ‘competitive advantage’ associated with the overall services. Such overseas services provide benefits to both the outsourcing companies and to the service providers, as the cost and flexibilities become the most effective factors of the overall process. Now the benefits of the service companies in India have also increased as they are getting matured with the time. Now the companies from the countries are also building core capabilities beyond what would generally be possible by the overseas companies. Offshore Outsourcing India has really gained in all functional areas globally for the qualitative and low-cost labor services.
Offshore Outsourcing India got the growth in 1990s when onset of globalization in India took place. Indian government have pursued many programs of country’s economic reform committed to liberalization and privatization. Till 1994, country’s telecom sector was under the direct control of the government and the state owned units used to enjoy monopoly in this sector. In the same year government of India announced the policy under which telecom sector was liberalized and encouragement for the private participation was there. Though the Information Industry in the country has existed since the early 1980s, and the emergence of Offshore Outsourcing India in it was in early and mid 1990s. BPO sector is still the young sector in the country and it is in the existence for a little more than 5 years or so. Today country’s IT software and service organization has grown mature enough and demanded the most globally for the best quality and cheaper labor-rate services. Because of all these Offshore Outsourcing India has got lots of name in all the fields.
Offshore Outsourcing IndiaLooking at the success of Offshore Outsourcing India and its IT industry, the central government identified BPO as one of the most important and key contributor to the economic growth for the country. In 1999 deregulation was introduced by the National Telecom Policy (NTP) in telecom industry and opened up national, long distance, and overseas connectivity. All these incidents have led to the steady inflow of investments by large overseas companies. In short because of the entire above step by the country increased the popularity of the process of Offshore Outsourcing India.
Offshore Outsourcing India in today’s time period has been one of the most important parts not for the country only but for many countries globally. Country is gaining more and more help from all these and more FDI is also taking place which helps in the economic growth of the country.