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(From Financial Director)
Despite sharing a border with two hostile nuclear powers, the lack of a reliable transport and power infrastructure, an almost impenetrable bureaucracy and rampant corruption, India remains the preferred outsourcing location for major multinationals. This trend gathered momentum in the early 1990s, when several international corporates - American Express and Swissair among them - launched business process outsourcing (BPO) operations in India. This comprised mainly of back office activities and customer interaction services, better known as call centres.
Over the past decade, the Indian workforce employed by outsourcing companies has soared to more than 100,000, and the value of the industry has grown to $2.5bn. New areas of business functions are being added.