4 AUGUST2022Editor NoteFuture Remains Bright for Indian Outsourcing SectorBack in 1991, when Dr Manmohan Singh flagged off India's new liberalized economy reforms, it paved the way for a stronger & prosperous nation. With the emergence of globalization in the country, India has gradually risen the ladder towards becoming one of the most powerful economies in the world. In the past two decades or so India had strengthened its position as a leader in technology and service industries. With a robust startup ecosystem and tech landscape, India has become a global hotspot for technology. However, the foundations for India's rise as a tech hub were laid out during the mid-80s when some bright minds of the country became pioneers the offshore IT and Business Process Outsourcing (BPO) industry. What started out small has today emerged into one of the most prosperous BPO industries in the world. Although the industry is evolving with time, yet the Indian BPO market's stronghold as the superpower is only getting strengthened. A major reason behind our success in the BPO sector is the vast experience that Indian firms bring along. Having been in the game for over 2-3 decades Indian BPO companies are well equipped to align with any change that the industry might bring along. The country is also home to the largest skilled workforce in the world that is also well versed in spoken English. India also produces the largest number of engineering and technology graduates. As a consequence we have one of the most educated and advanced workforces in the world, thus making India the world's largest offshore outsourcing destination for IT services globally. Over the years Indian BPO sector has gone a step ahead of just catering to menial tasks and processes to being adept at Knowledge Process Outsourcing. The Indian KPO sector has seen growth owing to the rise of industries such as automotive, BFSI, healthcare, and manufacturing. According to reports, the enterprise spending on BPO services in India is expected to reach $8.8 billion by 2025 growing at a CAGR of 5.8 percent. The impending growth of the industry has been spurred on by the attempts made by Indian government to simplify regulatory landscape for the industry. The current edition of the Women Entrepreneur magazine brings to you stories about some of the most illustrious women leaders in the Indian BPO services space. Do read on and let us know your thoughts. Rachita SharmaManaging Editor
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