India has been a pioneer in providing outsourcing solutions
India has been a pioneer in providing outsourcing solutions and has been providing a range of outsourcing services to countries across the globe.
It is estimated that up to two-thirds of Fortune 500 firms currently outsource some part of their operations overseas and that outsourcing levels are expected to increase rapidly as companies strive to improve performance and increase efficiency levels, especially as the global competitive marketplace continues to develop. In many cases, firms have quickly realised that outsourcing can lead to the development of successful competitive strategies.
The reason for this according to most research is that it saves time, money, and better work ethics; thus, India is ahead of competitors such as China. There are many reasons for India getting the Lion share of outsourcing. Cost is the chief reason for sending business to India. But the country's abundant manpower has made India a target destination for multinationals to back end their operations in India.
Reasons for companies outsourcing to India are
Better and faster communication skill
Developed medium of communication has brought the distant companies to the country's doorstep. Easier and faster communications like video conferencing, chatting, e-mailing etc. are prevalent in the nation.
Highly skilled but cheap human resources
Large number of skilled human resources is one of the major benefits of job outsourcing in India. Most of the population of India has got sound technical knowledge, which makes the country get more business outsourced here.
English fluency
Predominance of the British rule in the Indian sub-continent for 200 years has benefited the country in respect of English speaking. The nation has got highest English speaking people. People's literacy and grip over the English language has increased the fluency of their English speaking ability, which in turn has helped the country gain more outsourced business.
Supportive Government
The democracy followed in India makes the Government of India support business outsourcing as well as freedom of business with few restrictions and lesser rates of interest. This helps foreign countries outsource more jobs to India.
Time zone
The time zone of India with a huge time difference with mainly the United States has helped the country complete the assigned work by their night since, the night of the United States means day in India. Thus, the vast distance between the two places has made more outsourcing of jobs possible in India.