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Outsourcing in India, a timeline by mak jura
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Outsourcing in India, a timeline |
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Business
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During the industrial revolution in 17th century, producers shifted their manufacturing units in countries where labor was cheap. Outsourcing provides a big economical backup to countries like India. India still holds the top title for taking most number of outsourcing projects, labor is cheap and skill is abundant. With the improvement over transportation in all modes (land, water and air), more manufacturers started taking benefit of this possibility of outsourcing to India and other countries. While earlier outsourcing was just a tool for cost cutting just headcount reduction but now experts use it as a strategy to optimize the business. A sudden burst of outsourcing projects was experienced in 1980s through 1990s, with the development of computers and IT the prospects became even more promising. The first industry to put back office captives in India were airlines companies like Swissair and British Airways. Some of the initial captive units also included Texas Instruments, GE and American Express. In the 90s an outburst of businesses was seen in Indian Outsourcing industry. Now 74,400 Indians work in BPO industry which boasts a growth rate of 54 percent. Now, India has 56 percent of all BPO projects in the world. A competent workforce and a passion to work for money have led India to this point of economical importance. Such promising prospects have resulted in formation of new firms and outsourcing companies in India. CNGBS or CNG Business Services is a part of CNG group of companies which was found in 1971. The company specializes in providing cost effective methods in three major segments: Retailer Revenue Enhancement Solutions, Cost Reduction Solutions and Corporate Outsourcing Solutions. The company is known best for Online Credit Card Processing and Wholesale Carrier Services. What makes India stand tall in this business? The quick learning ability which is motivated by sheer competition is the key here. A large population of the country also contributes to the success. Right now, it seems the market is monopolized by India. It is not something one would want to completely own but when speaking in terms of India this provides a big economical support to India. Check it out for more information about Online Credit Card Processing and Indian Outsourcing
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Indian Outsourcing, Online Credit Card Processing,
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