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Outsourcing – India is rapidly becoming a global practice as international corporations recognize its multiple benefits. The outsourcing budget of global leaders has increased significantly. Most importantly, corporate giants in the US, Europe, and Japan prefer India as their outsourcing destination. There are numerous benefits in outsourcing work to India. Some of them are mentioned below:
1. Cost advantage with better quality
2. English speaking manpower
3. Time zone advantage
4. Stable government
5. Indian government policies
6. India-Fastest growing economy
7. Technically and professionally educated and skilled manpower
8. Best infrastructure suited for outsourcing
9. Not just BPO but KPO too
10. Excellent Investment potential
India offers one of the largest reserves of inexpensive, English speaking, scientific, technical, and customer service talent. The reason for this is that India has a pool of technically qualified graduates and postgraduates passing out every year from Indian universities that can deliver services matching international standards. India is a hub of technical support service. These back office hubs get hundreds of calls every night from around the world containing various queries. India has expertise not only in BPO or ITES but now one more area that making India a hot destination for outsourcing and that is KPO i.e. Knowledge Process Outsourcing. The super success of Indian BPO has resulted in the birth of KPO. KPO has now taken the lead in the outsourcing business.
India provides three major services to clients financing, human resources, and customer service. Knowledge Process Outsourcing refers to the outsourcing of activities where domain knowledge or expertise is required, for example accounting, taxation, legal services, insurance, HR services, and pharma services. After maintaining its lead in other areas of KPO, India is now eyeing pharmaceutical and legal service industry with an estimated worldwide strength of over $17 billion.
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