Companies from the US and Europe were able to save a whopping $25-$30 billion during 2009 on account of their outsourcing work to Indian companies. While the US-based companies saved $14-$19 billion, their European counterparts were able to save approximately $9-$12 billion.
The Indian IT segment has been playing an instrumental role in transforming global companies and they have been to live up to all expectations even in context of India’s economic parameters.
From Timesofindia.indiatimes.com:
The off-shoring model is seen to have helped create over 250,000 direct and indirect jobs across the US during 2004-2007. In 2007, $2.75 billion was contributed by Indian firms to the US economy in the form of taxes and administrative expenses incurred by their onsite offices.
The sector contributed to 10% of the country’s service sector revenues, its unique “service-led” export oriented model contributed 9% of the country’s incremental GDP. The per capita GDP contribution of IT-BPO employees is 80 times that of agriculture. The industry grew twice as fast as the total Indian exports over the past decade and contributed 14% of the country’s total exports.
According to a recently concluded study by industry body Nasscom, in association with research firm Evalueserve, the Indian IT & BPO sector accounts for 6 percent of the country’s GDP, this suggests a quantum jump from 1.2 percent a decade ago.
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