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The Bright Side of Outsourcing |
From a global perspective, offshore outsourcing does have a bright side -- in India and other outsourcing destinations. It reinforces the benefit of higher education, allows individuals to purchase cars and gives workers confidence and hope for the future. Outsourcing may be a bane to many U.S. technology, finance and manufacturing employees, but it has proved a boon -- and a catalyst for cultural change -- to nations like India that are reaping the benefits of this trend. It is fortunate that a bright side for employees exists, because the outsourcing tide seems unstoppable. By 2015, more than 472,000 computer-related jobs alone will move overseas, versus 27,000 in 2000, according to Forrester Research estimates. India is the top choice for offshore outsourcing, a World Bank study found.
IT-enabled services in the country grew 70 percent between 2000 and 2002, according to a study released last year by the McKinsey Quarterly and the National Association of Software & Services Companies (NASSCOM), an Indian software industry organization. Also, as of September 2003, 360,000 Indians were involved in technology-related services compared with 242,000 the previous year, Chappaqua, New York-based market research and business intelligence firm Evalueserve said. By 2008, 1 million Indians are expected to be employed in the services sector, NASSCOM predicts, and the sector will generate between $21 billion and $24 billion. In 2002, the Indian IT-enabled services industry reaped revenue of $2.3 billion, up from $1.5 billion in 2001. And this year, Indian software and services exports are projected to grow by up to 28 percent, reaching revenue of $12 billion, the industry group expects. |
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