Opportunities for India
India can collaborate with other countries to leverage local knowledge of the business environment and language skills while providing its domain knowledge and technological expertise for successful outsourcing. For example, TCS has a Latin American arm based in Mumbai, which serves an insurance client in with a center in as a near-shore location. Outsource2india has a collaboration with a company in NE India that leverages the unique talents of the people of this region.
Opportunity areas
Today more industries are where IT was in the 1990's - knowledge based. Knowledge Process Outsourcing (KPO) may soon be the biggest revenue grosser in as BPO companies move up the value chain in their service offerings. This includes:
1. Research and Development
Product Innovation - Companies are going beyond basic research to invest in innovation and new product development. Companies that have invested in R & D in are Cisco Systems, Motorola, Hewlett-Packard, Google General Motors Corp. and Boeing Co among others.
Co-development In pharmaceuticals,has the opportunity of co-development and ownership of new patented drugs through drug research, clinical trials and manufacturing. Indian pharma major Ranbaxy has an agreement with MNC GlaxoSmithKline to commercialize compounds they develop together.
2. Legal Outsourcing
India's large pool of qualified English-speaking lawyers with experience in the British legal system can offer paralegal support, legal support and patent services. A few Indian companies affiliated with American law firms are now able capture a tiny piece of the American market. They are now doing legal research at very high rates by Indian standards but yet 50% below typical American rates.
3. Engineering Outsourcing
India can provide high-quality engineering services in the fields of: Mechanical & Electronic engineering - analysis and design , embedded software
Plant Automation ServicesEnterprise Asset Management and OEM solutions
4. Remote Infrastructure Management Services
India can offer management services for IT infrastructure, applications operations, IT security and maintenance. This sector presents great potential through large-value multi-year contracts
5. Accounting Services
We are in the initial stage where payroll processing and some accounting is being done for large American companies. This trend will continue and soon a full range of accounting and tax services will be provided by Indian companies.
6. Outsourcing opportunities for exist in other fields
Like Financial Research, content development, medical writing: animation, film, publishing, web services; Human Resource outsourcing: recruitment, training, Education, Nanotechnology and many others. |
