Growth and Challenges of BPO Industries in India (Their role and contribution in the development)
Journal Title: JOURNAL OF COMMERCE AND TRADE - Year 2006, Vol 1, Issue 2
Abstract
In olden days only trade was considered the engine of economic growth but in recent years service sector has assumed unprecedented importance. In addition to traditional services like banking, insurance, and tourism Business Process Outsourcing (BPO) has been the latest attraction in India. It has emerged as a new dimension of business in India and has proved as the key source of income and employment. BPO is a long term contracting for non-core business activities to an outside provider. It helps the management to concentrate its attention on core business. India is emerging as a global outsourcing hub as it has a sound outsourcing potential specially in information technology services, programming and information technology enable services (ITES) viz. call centers, back office operations, communication and networking, media and entertainment, relationship management and medical transcription. Various developed countries like US, UK, Canada are turning toward the developing countries for outsourcing their non-core activities. India is the most preferred due to availability of large pool of English speaking population, less servicing cost of the qualified personnel, stable political environment, and sound reputation in international market due to quality services. But it is found that outsourcing activities are going unexpected complex and costing high instead of simplified operations it requires more attention and deeper management skills than anticipated. Present paper is highlighting the challenges and suggests the ways to face those challenges.
Authors and Affiliations
Dr. Rakesh Kumar Kumar
Keywords
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