India will account for two-third of the global knowledge process offshoring segment that could create up to 1.8 lakh new jobs here by 2011.
India will account for $11.2 bn of the worldwide KPO market by 2010-11
NEW DELHI: India, already known as the back office of the world, will account for two-third of the global knowledge process offshoring (KPO) segment that could create up to 1.8 lakh new jobs here by 2011, a new study has said.
The worldwide KPO market is expected to grow to $16.7 billion in revenues by 2010-2011 at an annual growth rate of 39 per cent. Of this, India would account for $11.2 billion, according to the study by business research and analytics firm Evalueserve.
The industry would employ about 3.5 lakh professionals by March 2011 globally. This includes nearly 2.55 lakh in India, where only about 75,400 people are currently employed.
According to Evalueserve, the KPO industry in India had only 9,000 billable professionals in India, generating revenue of $260 million during 2000-01. This number has grown to 75,400 by 2006-07 with $3.05 billion in revenue at an annual growth rate of 51 per cent.
The anticipated success in KPO comes after the success of business process outsourcing in the country, which accounts for revenues of $15.8 billion in 2006-07, a jump from just $7.7 billion in 2003-04. This huge growth in the global KPO space would be driven by the vast pool of educated and experienced professionals in countries like India, China, Russia, Poland, the Philippines, Hungary and many republics from the erstwhile Soviet Union, California-based Evalueserve’s Chairman Alok Aggarwal said.
It is quite likely that companies may use a “hub and spoke” model in which a provider in India may constitute the “centre” whereas other units in the world may provide appropriate “spokes”, Aggarwal said.
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