Indian Outsourcing Advantages.
Economic pressure have forced professional firms to think hard about ways to improve profitability and be more competitive in international market place. The changes in technology and globalization made it feasible for companies to succeed in this competition by leveraging through outsourcing. The primary beneficiary to the trend has been and will continue to be India. Each dollar that a US company spends on outsourcing a service job to India, generates as estimated 1.13 USD in net value for the US according to a recent study published in Milken Institute Review.
Talent pool
India has the second largest pool of English-speaking scientific professionals in the world. Over 375,000 engineers graduate from Indian institutions each year. The growing bank of millions of technical workers in India is supplied by, among others, over 1,800 educational institutions and polytechnics, which train nearly 68,000 computer software professionals every year. Over half of the Fortune 500 companies employ Indian software talent. This includes graduates from the prestigious Indian Institute of Technology (IIT), where the quality of technical training is comparable to the best of the educational institutes in the world. Sixty-two percent of the Indian technical workforce has more than four years of experience and over 70% has an engineering degree.
Education Factor
In India, education is highly valued. India has a vast network of universities, engineering colleges and private training institutes that are engaged in developing this vast talent pool. As a direct consequence, output of trained manpower at a degree/diploma level has increased to over 750,000 per year. India's educational system lays strong emphasis on Math and Science. "India benefits from having a large pool of well-educated, well-trained, English-speaking, relatively modern engineers, finance professionals and specialists in quantitative disciplines," says Kristin Lindow, lead analyst for India at Moody's Investors Service in New York.
Scalability
India's single-biggest comparative advantage is the scalability of the country's talent pool. To illustrate, you can set up a call center with 100 employees anywhere in the world. However, if you need to scale up to 1,000 people in six months, and then to 5,000 in two years, you could do that only in India. This is attributed to the sheer size of the talent pool in India. In addition, several benchmarking studies have shown that India is the leader in quality, productivity, and customer empathy.
