Software Outsourcing’s vigorous growth today in the export and domestic market is mainly because of the rich availability of talent in India, high levels of security and standards maintained for data protection. More over a value oriented work environment and the tax concessions benefits by STPI. To take the advantage of talent pool and favorable government policies many MNCs and end-user organizations have set up centers in India. By continuing the favorable and facilitative role government has played till now, there is still high potential to attract more captives and third-party companies.
India still has a long way to go to tap into the global market share in the IT outsourcing and BPO space. Many other countries are replicating the Indian model and they can be a threat if there are any uncertainties around India’s continued growth and commitment in this sector.
We need to make sure that employable talent is available continually in the future, the security measures are further strengthened and the STPI tax holiday is extended to remain price competitive and attract more captives and companies to India to sustain our growth. If these matters are not looked upon the growth of IT outsourcing industry could slow down and could trigger opportunities for other competing countries.
NASSCOM has initiated the concept of “Finishing Schools” – an ecosystem that takes graduates from Academic Institutions and prepares them for the industry measure. Much higher Government investment in education, changes in education system, better compensation and research grants are required to boost up the industry.
IT outsourcing industry in India has taken key initiatives like: The industry has been highly responsible in its compliance and transparency. For employees the corporate is looking forward to take care socially and environmentally