The Hindu Business Line : ITES jobs to grow 45 pc: Nasscom

THE IT-enabled sector has continued on its growth path in 2003-04 and is likely to employ over 2.45 lakh employees by the end of the current financial year. The headcount is expected to go up by about 75,000 from 1.71 lakh last year.

The business process outsourcing (BPO) industry will fetch $3.6 billion as revenues in 2003-04, a growth of 54 per cent over $2.5 billion in the last financial year, according to a National Association of Software and Service Companies (Nasscom) report.

While customer care has continued its rapid growth and the number of Indians employed is projected to rise 46 per cent to touch 95,000 by the end of the current year, other sub-sectors like payment, finance and human resource (HR) services have also notched up significant growth numbers, the report says.

The number of call centre workers engaged in financial services such as billing, accounting transactions, tax consulting and risk management is projected to rise 66 per cent from 24,000 to 40,000 during the current year.

Similarly, HR and payment services are also witnessing hectic employment generation. The number of HR professionals is projected to rise from about 2,100 to 3,500 and payment services, which include credit or debit card services, cheque processing, electronic data exchange and web marketing, will nearly double from 11,000 to 21,000.

In terms of revenues, customer care will continue to be the single largest source, contributing for $1.2 billion in 2003-04 as compared to $810 million last year. Financial services will fetch $820 million this year as compared to $510 million in 2002-03 and payment services will generate $430 million as compared to $210 million in the same period.

The report says that India continues to offer great value proposition for the ITES companies. low-skilled workers "Outsourcing to India has helped companies achieve 40-50 per cent cost savings. Companies are also able to generate higher free cash flows due to reduced investments in physical infrastructure, telecom and equipment."

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