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.”
Related news
- Japan-based BPO transcosmos to use Avaya’s CCaaS · 7 Oct
- One out of 5 US employers to prioritize remote workers’ well-being – Mercer · 7 Oct
- 41% of employees in Singapore reports declining mental health since pandemic started · 6 Oct
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
