The total global and domestic outsourcing market opportunity for India could triple from $500 billion in 2008 to $1.5 trillion by 2020, according to B.V.R Mohan Reddy, Chairman of Infotech Enterprises.
Addressing the 6th national conference on ‘Leveraging India’s Competitiveness in Globalised Economy’ here, he said India would continue to lead in the global outsourcing market. “India’s market share grew from 55 per cent in 2010 to 58 per cent in 2011, driven by increased focus on cost efficiencies, customer centricity and a supportive ecosystem,” he said.
Brazil, Russia, India and China (BRIC) countries will offer a domestic outsourcing market of $380 billion to $420 billion by 2020. India’s software exports grew 13 per cent so far this fiscal, with the US and the UK remaining the largest markets, Reddy said.