With outsourcing being one of the major revenue earners for the Indian economy, and with it, for millions of families across the country, what happens worldwide in the outsourcing industry is of deep interest and significance to India. Being one of the key players in the area of outsourcing, and the number one destination for global IT outsourcing, India has a lot to be concerned about outsourcing trends in 2010.
Outsourcing to India is a major business activity that spans a whole host of industries ranging from IT to textiles and aerospace to automobiles. So, when one studies about outsourcing trends in 2010, it will be seen that a major component of their volume will be India-centric. Forbes estimated that in the year 2009, the top 2000 companies on its list totaled over $71 billion in outsourcing. A good part of the share belongs to India. So, what are the scenarios in outsourcing trends to India in 2010 and for the remaining part of the financial year?
First, it has to be mentioned that when one talks about outsourcing trends to India in 2010, we are talking about a topic that is indeed too generic and broad to be confined to a few sentences and paragraphs. As we just saw, the range and scope of sectors and activities that get outsourced to the Indian economy, are simply too comprehensive. Thus, a quick glance at the outsourcing trends in 2010 for India is sure to be half hearted and incomplete
If one were to restrict oneself to the prime sector, namely the IT industry, outsourcing trends to India in 2010 carry some pointers. As they say, to see the future, one has to peep into the past. In making an assessment of the outsourcing trends in India in 2010, one needs to look not into the distant past, but into the previous quarter. In the first quarter of 2010, despite the rather sluggish growth 2009 saw; Indian IT companies, as a whole, saw an upswing in fortunes. As expected, the big ones, led by Wipro and Infosys did well.
However, outsourcing trends to India in 2010 was heartening for other, smaller companies as well. Many of these received a shot in the arm, spurred by major reforms carried out by governments. For instance, President Obama announced a comprehensive healthcare reforms package earlier in the financial year. Carrying out this work certainly entails handing over more work to smaller Indian companies. This is set to be a major component of outsourcing trends to India in 2010.
Similarly, industry-specific trends like cloud computing means more business for smaller companies in India. As we know, cloud computing is a trend that has taken the IT industry by storm. Creating cloud computing is going to be another business prospect that is going to keep smaller Indian companies busy for some time to come, although it may not be anytime soon till we seen Indian companies being the major ones in this area. Seen in their totality, outsourcing trends to India in 2010, especially for the IT industry is beginning to look up. Outsourcing trends to India in 2010 seems poised for a brighter outlook, at least from indications available at the completion of the first quarter.