When it comes to software development outsourcing, India, with a market share of 80%, is generally considered as the world leader. But with stiff competition form China, Vietnam, South Africa, Eastern Europe and South America, will India have to have a cause for worry? Not so much, for according to reports by the National Association of Software & Services Companies (NASSCOM), India’s export revenue touched the $56-$57 billion mark last February.
Som Mittal, president of NASSCOM, in a statement on this upward trend, said, “Pent-up demand for IT-BPO services, return of discretionary spending, new business models that encouraged first time buyers, and re-invented value proposition for existing ones, were the key drivers for the industry performance.” Furthermore, with India’s share in the global outsourcing market rising from 51 percent in 2009 to 55 percent in 2010, NASSCOM has predicted India’s outsourcing export revenue to be around $68 billion to $70 billion in fiscal year 2012.
India Offers Multiple Benefits
Gone are the days when software outsourcing to India was done only because of the cheap costs. In the present scenario, it is India’s multiple advantages that have helped it retain its position as the best outsourcing destination across the globe. Software development companies in India offer numerous benefits that include software development at par with International Standards, flexible hiring options that reduce the time duration for completion of the project, provision of 24/7 online client support, ability to work with the latest technologies at moderate costs, talented software developers with strong work ethics and a convenient 12 hour time lag that benefits clients in the US.
Software applications development requires huge financial resources and a large number of skilled professionals to carry out the work and Indian companies have these resources at their disposal. By staffing hundreds of IT professionals who are fully equipped and trained to handle outsourced projects, service providers are able to provide fast and cost-effective software development services. Indian companies also provide the widest range of software development services possible, including software testing, product development, maintenance services and custom software development services.
The Future of Software Development Outsourcing
AT Kearney’s 2011 Global Services Location Index (GSLI) listed India in the top position for the best outsourcing destination across the globe followed by China and Malaysia. ”With its first-mover advantage and deep skill base, India remains the unquestioned leader in the index, a half-point ahead of China and a full point in front of Malaysia. India is the all-around standout, able to provide manpower for any type of offshoring activity and still maintains the lion’s share of the IT services market,” the report said.
Unlike other emerging IT markets, India is considered to be a mature outsourcing market delivering proven results, making it the best in the world.
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