Nikunj Anand
- One of the fastest growing economies in the world with a consistent GDP growth over 7%, making it the epicenter of investment.
- Goldman Sachs predicts Indian economy to be the third largest in the world by 2050.
- The world's third largest investor base only after U.S.A and Japan.
- Large presence of FIIs in the Indian capital market with over 451 FIIs and 38 foreign brokers registered with SEBI.
- Placed amongst the most transparent & mature markets in the world.
Hub of Global Outsourcing
Inspired by the Indian IT-ITeS success story, several other locations have been presented as alternate options for offshore account outsourcing. However, feedback received from several MNCs having multi-country operations as well as syndicated analyses comparing the various sourcing locations has revealed that India continues to offer and deliver the best 'bundle' of benefits sought from global sourcing.
With significant potential still untapped, it is expected that the global sourcing phenomenon will continue to expand in scope, scale and geographic coverage. As global delivery matures, multi-location strategies will become the norm and most sourcing destinations, including emerging locations, will grow in size. Building on its existing strengths, India will remain the leading destination and will continue to play an important role in most global sourcing strategies like Accounts Outsourcing Solutions, accounts bookkeeping services, income profit loss statement, Preparation of Annual Financial statements
Worldwide spending on IT-ITeS witnessed steady growth in 2005, on the back of healthier spending across key markets of the US and Western Europe, and strong growth in emerging markets. Outsourcing continued to be the primary growth engine with global delivery forming an integral part of the strategies adopted by customers as well as service providers.
The year 2005 also witnessed the coming of age of the Indian IT multinationals, with the traditionally India-centric, indigenous players beginning to build noticeable presence in other locations - through crossborder acquisitions, onshore contract wins and organic growth in other low-cost locations. This was complemented by global majors continuing to significantly ramp-up their offshore delivery capabilities -predominantly in India, vindicating the success of the global delivery model and highlighting India's increasingly important role in the new world IT order.
In addition to the growth in scale, the portfolio of services sourced globally continued to expand into higher-value, more complex activities- further reinforcing the growing maturity of the global delivery model.
Knowledge Professionals in India
The large and growing pool of skilled professionals has been a key driver of the rapid growth in Indian IT-ITeS. This rapid growth in industry employment has been facilitated by the combination of two fundamental factors -
A favourable demographic profile -The underlying factor highlighting India's long-term attractiveness is its highly favourable demographic profile. With nearly 60 per cent of its population between the ages 15-59, and more than half below the age of 25. In contrast, countries including the US, Europe, Japan and China have a more aged population with dependency ratios likely to increase over the same period.
A large, expansive and established network of academic infrastructure - According to data released by the Department of Secondary and Higher Education, Ministry of Human Resource Development, and Government of India.
At the end of March 2005 there were 343 institutes of higher education in India and 16,000 colleges with a total enrollment of 9.3million, producing 441,000 technical graduates.
Nearly 2.3 million other graduates and over 300,000 post-graduates each year.