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India’s KPO’s biz to touch US$ 10 billion by 2012
by Jo BlackIndia’s highest body of the Chambers of Commerce, the Associated Chambers of Commerce and Industry of India (ASSOCHAM), has projected the Knowledge Process Outsourcing (KPO) industry’s size growing to US$ 10 billion mark by 2012, with a growth rate between 25-27%, provided a strong chain of qualified professionals is built, opening up the field for bio & nano experts.
Currently, the KPO size is estimated to be around US$ 4 billion and the sector has grown at around 15% in the ast few years, dominated by professionals belonging to fields such as management, medical, engineering etc.
Releasing ASSOCHAM’s assessment on `Future Course of Indian KPOs, its President, Mr. Sajjan Jindal said there is a need to create a new pool of KPO workers from emerging domestic knowledge based industries such as Biotech and Nanotech as large number of talented young people have joined academic courses for career excellence in these two areas.
According to ASSOCHAM, presently the domestic KPO industry is facing stiff competition from countries like the Philippines, Russia, China, Poland and Hungary, as these are emerging strong contenders for KPO business in view of qualified KPO professionals, low-cost advantages, domain expertise, location advantage, sales and marketing capabilities and data compliance.
As per estimates made by the ASSOCHAM, a vast pool of highly educated professionals in engineering, medicine, management and professionals in the field of accountancy, company secretary, and legal fraternity would be required to serve the industry.
Their number as per rough estimates should be well within the range of over 100,000 against the current numbers of 40,000.
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