Forrester Research meanwhile indicates that by 2003, a larger number of companies will engage offshore providers and their budgets too will grow rapidly. There will be an increase from 12 percent of technology budgets today to 28 percent in 2003. According to a study conducted by Forrester in November 2001, India's edge over other competing nations in the IT outsourcing business is based on the country's decade old experience in this area, fluency in the English language, supportive Government policy infrastructure, and high quality offerings.
Today, MNCs are rushing into India to stake a claim to the IT outsourcing market. While a large number of companies are outsourcing their software development to Indian companies, others are establishing a presence in India and participating actively in the software export game. The MNC sector emerged as an important segment contributing Rs 9,855 crore of the total exports of Rs 35,600 crore in the year 2001-02, translating into 27% share of the total exports.
India can be an ideal offshore destination due to a variety of advantages it has over other countries.
Having decided to proceed with an offshore initiative...
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