Why India is destined to rule outsourcing industry?

Outsourcing industry is the backbone of New Age Indian economy and it is one of the prime provider of jobs in India and abroad. India has performed remarkably well as over $ 50 billion is the rough estimate of the industry's turnover in India. Due to this competitive advantage, world has come to value India as a knowledge superpower. Also, India has fared well in the recession when most economies registered negligible or negative growth.

The question is - what the hell Indians have done better than the rest of the world? The answer lies is its vast educated talent pool and its ability to speak English fluently. Also computer skills are far better than other countries. It is common knowledge that English and computer skills are necessary if any body wants to have a successful corporate career. Now wonder, we are now giving Americans and Britishers run for their money too.

The IT and ITES services in India cost almost half the amount they cost in the developed economies and therefore western countries are outsourcing most of the work to India. Example: it takes almost 30 days to hire an engineer from silicon valley while in India outsourcing companies would do that in nearly 2 days! This saves time and money and also the quality speaks for itself.

Also India's time zone suits the western countries as well. These factors make India stand out when it comes to outsourcing either LPO, KPO or software solutions. The competitors from whom India is vary of are - China and Philippines. China lacks English speaking skills while Philippines cant give large scale headcounts,  hence India's monopoly may just extend and remain in the future to come.

It is general knowledge that many developed nations these days are suffering from the aging population like Euro zone, Japan and even America. Hence, it is imperative to outsource work to other nations so that they can carry on their economy and other activities forward. Like India which is considered as one of the youngest nation in the world, being educated and sharp minded, they may be the answer to the world's aging endemic.

Human resource is the main driver to any organization growth hence companies hire them from all over the world. Renowned names like Facebook and Google hire their engineers from across the world and many times engineers are also outsourced from other parts as well. Hence, it will be a safe bet to say that outsourcing is here to stay and India will continue to remain a dominant player in this arena.