NASSCOM’s recent study shows that the promising Indian BPM (Business Process Management) industry has significantly contributed to India’s growth by reinventing and transforming itself in a short period. The thirty-year-old IT-BPM sector has had a great impact on Indian society and economy.
No other sector has been able to create such a success story, let alone in such a short time!
The industry has enabled India to emerge as one global force. Thought provokingly, at the same time, it has helped India get rid of its lines of social separation. To understand how much impact IT-BPM has had on India’s growth, NASSCOM did a special study exploring the nature of the transformation. The study broadly showed that over the last decade, IT-BPMs in India have made a lasting, multi-fold contribution to the economy. Not only has it balanced local development, but benefited the country’s vast pool of talent, created an innovation platform, and put India on the global stage.
Going forward, India has IT-BPM playing a deeply significant role in social responsibility, and it helps in creating balanced and all-inclusive growth.
Gaining mindshare, maturity, and market share
As the NASSCOM report states, IT-BPM in India has been in rapid evolution, and it maintains a proper record of the global requirements in terms of services and products. India has now learnt the ropes when it comes to technology, and the country now finds itself to be the big IT hub of the future world. It is a sourcing destination for high-quality and cost-effective IT-BPM services and products. The sector has developed itself into a process-oriented and skill-based entity, becoming a favourite of global customers.
There was a time when IT-BPM was about looking after back-end work for the customers and developing applications and other software, entering data, processing transactions, and maintaining non-core functions. Now, the sector is gradually beginning to dominate the consulting and IT-strategy space.