Offshore outsourcing servicesWednesday, June 01, 2005
Good time ahead for Indian offshore service providers
Top three Indian companies have announced their results which show significant financial growth and no sign of slowing down of offshore business. Outsourcing giant Wipro announced 15.83 billion rupees profit for the financial year 2004-05 which was an increase of 58% compare to last year. TATA Consultancy services announced a profit of 22.56 billion rupees. While Infosys has announced a $419m profit for the end of the financial year 2004-05.
Trends and analysis show that offshoring will continue to rise. According to Gartner, currently, only 3% of the global information technology services are outsourced to countries like India and China. By 2008, only 7% will be shifted to these cheap labor countries. While some other companies like NeoIT have a very optimistic view that, offshoring will grow significantly and by the end of 2005, 80% of global 2000 companies will have offshoring presence.
Offshore outsourcing – Tatvasoft