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FACT: Indian Outsourcing Industry is Thriving These Days
The Indian outsourcing industry is a case-study for the business students. There are a few strong lessons to be learned about how Indian companies changed the definition of outsourcing and turned it into a billion-dollar industry. Indian outsourcing companies have worked on basic business requirements and continued to add services, as time rolled on. Outsourcing companies in India have an advantage in terms of a rich talent pool. The geographical or cultural diversity works both in favor and against. These companies used it to their advantage and developed a strategy that explored it to the fullest.
Know why India is becoming a favorite destination for outsourcing:
1. Talented Pool of Highly Skilled and Experienced Professionals:
Other countries realized it quite late that cost-effective model alone cannot dethrone India from the top position. There is a rich talent pool of professionals with an incredible amount of skills to look after the customers in the best possible manner. The Indian outsourcing sector has been able to maintain standards and outperform the competition. Other countries or markets can offer lower rates, but what they cannot repeat is the performance. Indian service providers have been able to prove their worth, every time they came up with something critical. They ensure that customers get a timely response and queries resolved to satisfaction.
2. Cost-effective and Customized Packages:
The outsourcing industry in India has been able to read the pulse of the international market better than most of the competitors. Outsourcing companies offer customized packages to look after each project, independently. They hire and train members for each project depending on requirement. The cost-effective model has always been the biggest selling point. This is one aspect which has helped it the most during tough and easy times, both. Indian outsourcing sector has grown past that stage where it had only lower rates to offer in the name of business proposal. They’ve become strategic business partners helping companies to retain clients and attract new ones.
3. Better Education Standards and Social Values are Contributing Factors:
The emergence of Indian outsourcing sector has been quite beneficial for the world markets. It has played in the favor of both the sides. Indian outsourcing service providers have surpassed other markets due to its multi-talented workforce. A lot of credit goes to the cultural and social values prevalent in a particular society. You cannot overlook the role played by the education system employed in it.
Other markets have been able to offer similar packages, however, they’ve not been able to match Indian outsourcing industry. It is the combination of services that have made it a winner. Indian service providers have shown rare insight to plan for things in advance. The recent financial turmoil is another example to prove the point. The Indian outsourcing sector has taught others a thing or two. They have not only survived, but also stabilized things. The reason why outsourcing has been a mainstay of business operations is because of the success of the business model used by Indian companies.
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