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India's offshore software development industry ranks among the fastest
growing sectors within the country's economy. Driven primarily by
software exports, the industry has been logging in extremely impressive
year on year growth. The offshore software development industry in
fact has been growing well over the 50 percent mark, and only in the
last year, impacted by the worldwide economic downturn, has the momentum
reduced marginally.
India's international-class manpower, which creates high quality software
and services solutions, is finding favor among overseas customers.
The success story being played out by the IT industry at the global
level is also being reflected on Indian soil, with more and more organizations
embracing offshore development in india. The Government too is getting
IT enabled and using state-of-the-art technology solutions to bring
greater benefits to Indian citizens and improve its internal efficiencies.
The Indian offshore development industry has grown from Rs. 5,450
crore (US$1.73 billion) in 1994-95 to Rs. 64,200 crore (US$13.5 billion)
in 2001-02. In terms of a share of GDP, the IT industry figures have
risen from 0.59 percent in 1994-95 to 2.87 percent in 2001-02.'
India has twice as many technical graduates as the United States does,
and almost as many as that of the entire Europe Continent on an absolute
basis. The result is that Indian Software Developers can maintain
a critical mass of qualified employees in any specialty despite turnover
rates that can be quiet high. Thanks to quality-of-supply and cost
advantages, India is by far the preferred offshore software development
location. The cost and quality advantage of choosing India for Offshore
IT Outsourcing have remained unmatched till now, in spite of competition.
In the past few years, whenever organizations around the world have outsourced to India, the Indian Software Companies have substantially helped to cut costs in software development projects or MIS environments, while maintaining high quality. Moreover all these cost and quality advantages are coupled with the use of state-of-the-art technologies.
Among America's biggest companies, those using offshore software development
include American Express, Aetna U.S. Healthcare, Compaq, General Motors,
Home Depot, IBM, Microsoft, Motorola, Shell, Sprint and 3M. General
Electric uses 4 major Indian Partners with dedicated facilities that
employ 3,200 people who develop and maintain GE's systems, says Farley
Blackman, a former director of offshore development at GE, who's now
the CEO of outsourcing consulting firm StrategIM Corp. in Burlington,
Vt. By 1999, GE accounted for 8% of India's $ 4 billion software export
business," Blackman says.
The trend is helping propel rapid growth in IT economies of the supplier
countries. In India, easily the biggest provider of offshore software
development, IT exports have grown more than 55% a year for the past
6 years and are expected to reach $ 87 billion by 2008, according
to a report McKensey Group published in December, 2000. Some Indian
software development companies have become major suppliers in the
process, such as Wipro with $ 532 million in revenue.
For more enquiries on offshore software development in India, please
email at info@webresourceindia.com
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