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Indian KPO market will touch US$30b by 2015

India’s Knowledge Process Outsourcing (KPO) market is growing at a compound annual growth rate (CAGR) of about 30% annually and may touch US$30 billion by 2015 from the current level of $20 billion, according to ASSOCHAM (The Associated Chambers of Commerce and Industry of India).



The rising demand for profession-based services is expected to drive the growth in the industry in areas of research for capital and financial markets, legal works, editing jobs for international publishing houses among many others, reveals the ASSOCHAM recent paper on "Current scenario of Indian KPO Industry".

ASSOCHAM Secretary General D S Rawat, said presently, domestic KPO industry is facing stiff competition from countries like Philippines, Russia, China, Poland and Hungary as these are emerging strong contenders for KPO business in view of qualified KPO professionals, low-cost advantages, domain expertise, location advantage, sales and marketing capabilities and data compliance.

A vast pool of highly educated professionals in engineering, medicines, management and professionals in the field of accountancy, company secretary and legal fraternity would be required to serve the industry. Number as per rough estimates should be well within the range of over 600,000-800,000 against the current numbers of 350,000.

While releasing the paper Rawat added that it is difficult for KPO companies to always find a qualified, experienced and talented workforce in India. Considering the situation that there is no dearth of engineers, doctors, MBAs, lawyers nad other profrssionals. in India, the KPO industry is banking on availability of this talented pool to fill up its seats, but now they are facing the supply crunch.

It is the kind of shortfall predicted between target and realistic growth that is worrying. If the industry is unable to sustain the momentum, it is quite possible that the other alternative destinations will become increasingly attractive for the clients. The nature of the KPO work makes is easier for clients to switch, adds Mr. Rawat.

- See more at: http://www.globalservicesmedia.com/global-services/news/192890/indias-knowledge-process-outsourcing-market-will-cross-usd30-billion-next-two-years-assocham#sthash.c3ogtvRu.dpuf

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