The business industry outsourcing market has grown by leaps and bounds in the recent year with more and more companies taking the leap
by outsourcing their services to off-shore destinations. According to estimates the business industry outsourcing market is bound to grow even further in the years to come to reach a massive $55 billion in the year 2005.
This increase in the outsourcing industry has on one hand helped companies to cut costs and generate job opportunities in developing countries like India but at the same time has lead to huge lay-offs in US and UK. Most economists are of the opinion that this backlash among the workers in US and UK is just a temporary phenomenon that is sure to vanish in the years to come as the US economy improves and newer and better jobs are created.
As for developing countries like India things could not have been better. India is attracting huge foreign investment and generating ample job opportunities to is never ending pool of unemployed youth. Stories like ibm business process outsourcing to India and other big names are getting popular everyday. Particular outsourcing services Bombay, Chennai and Bangalore are seen as lucrative by many companies today. This is because of the fact that these countries are have better infrastructure and friendlier laws and regulations.
In addition to India, China is also gearing up to benefit out our outsourcing by encouraging English lessons in schools. Presently fiber optic outsourcing to china is on the rise because of the country's obvious advancement in the field of technology.
Outsourcing in India
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