Posted on May 22nd, 2008
Posted By TGSI
Just around a decade back, when the first of outsourcing companies in India started offering BPO services, it mainly involved medical transcription. With liberalization being introduced in the telecommunications sector in the late 1990s, call center services were also added to the list, but even then, the BPO industry was considered a marginal player. If we look at past records, we can easily see that growth has accelerated only in the last few years and that it was mainly due to the addition of many new outsourcing domains such as customer care & support, B2C & B2B telemarketing, data entry & data conversion, web promotion, content development, accounting and financial services, tax consultancy, medical records retrieval, market research, Data Creation and Management, document scanning & sorting, infomercial sales services, and insurance claims.
Over the years, all these domains have added to the dynamism of the BPO industry and have enabled the industry to achieve respectable levels in terms of size and volumes. Today the outsourcing industry is no longer considered a marginal player, because it generates huge business volumes, estimated to be around $10 Billion for the year 2008. By creating more job opportunities for the largely unemployed population, the BPO industry along with the IT industry is playing an important role in the economical and social growth and development of India.
Successive government administrations have not been oblivious to these facts and this is why they have introduced many industry-friendly policies over the years, thereby facilitating the desired growth and development of the BPO industry and adding to its growing dynamism.