The below excerpt is from a news published in the Times of India, dated 29th January 2008 and this speaks loads about the expected prospects of the BPO industry in India.
“The Indian BPO industry has the potential to grow five-fold in the next five years to become worth $50 billion. What’s more, the sector can add 2.5% to India’s GDP from exports and provide direct employment to nearly two million people. It will also boost growth in Tier-II and III cities to support the six-fold growth in the number of delivery centres.These are some of the latest findings of the Nasscom-Eversest Group study. The study, “Roadmap 2012 – capitalsing on the expanding BPO landscape”, predicts a five-fold growth in the Indian BPO sector will bring about huge payoffs to India’s economy, employment and development as a whole.”There is a lot of opportunities out there but it will depend on the BPO player on how they want to play it out”, says Gaurav Gupta, Country Head, Everest Group. The study shows, the cost-base offshoreable to India and addressable by the Indian BPO industry is worth $220-280 billion. Interestingly, while the Indian BPO sector has been focused more on exports, the domestic opportunity too has been evolving and growing fast. The report reveals the domestic BPO market which had a growth rate of 50% over the last five years has grown faster than the overall Indian BPO market to reach nearly $1.6 billion by 2008. And there are opportunities galore from sectors as varied as banking, retail, insurance, media, telecom and government ec. These together could generate an additional $15-20 billion worth of business”.
If there are still people who have doubts about this industry, I would recommend them applying for some government jobs and enjoy the life there.