Tuesday, 3 May 2011

India's IT-BPO market to touch $285 bn by 2020: KPMG

India’s IT-BPO market (including exports) could touch USD 285 billion in 2020 growing at a CAGR of 15 percent. The IT-BPO industry in India has achieved impressive growth rates over the past decade which currently stands at *USD 71.6 billion in 2009. A report release by KPMG and ASOCIO titled ‘Asia-Oceania Vision 2020: Enabling IT leadership through collaboration’ reveled that India the current market leader in global sourcing supply, serving approximately 51 percent of overall global sourcing demand is expected to retain its leadership position by 2020.

Speaking at the global launch of the report, Kumar Parakala, Global Head of Sourcing Advisory; COO, Advisory, KPMG in India said, “India is expected to achieve double digit growth rates in the IT-BPO industry, with a focus on innovation. However, the country needs to sustain its cost competitiveness and develop the requisite skills of its large workforce. India could also develop complementary skills in hardware, so that it can showcase a more diversified portfolio of products and services."

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