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BPO firms to hire 74,500 more this year
Bipin Chandran in New Delhi |
February 18, 2004 13:05 IST
Despite the backlash on business process outsourcing work to India in the US, the Indian BPO sector has hired an additional 74,500 professionals in 2003-04, according to the National Association of Software and Service Companies.
Pointing out that the BPO sector was the largest recruiter in the country, a recent Nasscom report said in 1999-00 the number of professionals employed in the sector was 42,000, which went up by 38,000 to 70,000 in 2000-01.
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The number of BPO professionals was up by 36,000 to 106,000 in 2001-02. In 2002-03, the total number of professionals employed in the BPO sector went up by 65,000 to reach 171,000.
Companies in the customer care services will be the biggest employers in 2003-03, with about 95,000 professionals employed in this area.
Content development companies will employ about 46,000 people, while companies providing financial services and administration services will employ about 40,000 professional each in 2003-04.
Payment services will employ about 21,000 people, while human resource service providers will have about 3,500 people working for them.
Nasscom also estimates that the Indian BPO sector will grow about 54 per cent in 2003-04 to reach $3.6 billion against $2.3 billion in 2002-03. In 2002-03 the BPO sector was up 59.1 per cent.
In 2003-04, revenue generated by customer care service providers is expected to reach $1.2 billion against $810 million in the previous year.
Financial service providers will generate about $820 million in revenue in 2003-04 compared with $510 million a year ago.
According to Nasscom estimates, companies offering administrative services will generate revenues to the tune of $540 million in 2003-04 against $310 million in 2002-03.
In 2003-04, companies providing content development services providing will generate revenues to the tune of $520 million against $465 million a year ago.
According to Nasscom, the revenues generated by payment service providers will grow to $430 million in 2003-04 against $210 million in 2002-03.
In the human resource services providers segment, the revenue generated by companies will be at $70 million 2003-04 compared to $45 million in 2002-03.