Indian BPO market to reach US$8.8B by 2025
India’s Business Process Outsourcing (BPO) market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.8% to $8.8 billion by 2025, said leading data and analytics company GlobalData.
Globaldata stated that the outsourcing sector in the country is largely driven by the government’s liberalized regulatory guidelines that help ward off competition from other countries — including the Philippines, Malaysia, Mexico, and Canada.
Senior technology analyst Pragyan Tarasia added that “the country’s expertise in providing knowledge-based and vertical-specific services… is expected to drive growth during the forecast period.”
Last June, the government enhanced the guidelines for voice-based BPO firms by removing distinctions between domestic and international service centers and allowing interconnectivity between all types of service providers.
Further, a ‘Work-From-Home’ and ‘Work-From-Anywhere’ framework was established for the BPO and ITES sector last November 2020.
Tarasia noted that the guidelines in the enhanced framework help enable ease of business in the industry and establish India as the “most preferred hub for BPO services in the world.”
