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• September 2008
  • BPO exports grow 21.4 per cent
    India's third party business process outsourcing (BPO) services exports in 2007-08 grew 21.4 per cent to Rs.264.23 billion, up from Rs.217.60 billion in the previous fiscal, according to a new study.

    In dollar terms, the growth was even more impressive at 36.6 per cent to $6.6 billion, up from $4.8 billion last fiscal, said the study. It ranked Genpact as the No. 1 export revenue earner with revenues of Rs.26.59 billion, up by 19.8 per cent from Rs.22.20 billion that the company earned last fiscal.
    
    

  • Payments to foreign cos by call centres taxable in India: ITAT
    Foreign companies providing connectivity and other technical services to domestic call centres through their overseas offices are liable to pay tax on their income in India, the sectoral tribunal has said.

    As per the decision by Income Tax Appellate Tribunal (ITAT) in two cases filed by the Hyderabad-based Frontline Software and Call World Technologies, the domestic call centres have to deduct tax at source on payments made to foreign companies on support services from abroad.
    
    

  • UK's Serco in talks to buy InfoVision for Rs 250 cr
    UK-based $2.6-billion services major Serco Group is in talks to acquire Indian BPO player InfoVision Group. The deal size is learnt to be Rs 200-250 crore. Industry sources say InfoVision, which is talking to a couple of IT-BPO firms, including Serco for a sellout, could finalise a buyer in 3-4 weeks. InfoVision provides customer relationship management, finance & accounting outsourcing, KPO and HR outsourcing. It employs over 11,500 people at centres in India, the US and Australia.
    
    
  • US outsourcing drug research to India
    In her swank headquarters just blocks from some of Mumbai's worst slums, Swati Piramal is midway through an impassioned pitch about revolutionising the world of drug discovery. Sanskrit passages of the Bhagavad Gita, the ancient Hindu text that guides her business philosophy, adorn the office walls of her company, Piramal Life Sciences. Its logo is gyan mudra, a finger gesture used in yoga meditation resembling the Western sign for "A-O.K."
    
    
  • Obama promises to retain and create jobs
    US Presidential hopeful Barack Obama once again touched on the ticklish issue of outsourcing and while vowing to end tax breaks to companies that ship works overseas conceded that all lost jobs could not be redeemed.

    Promising to retain as well as create more jobs for the Americans, the Democratic nominee said while all lost jobs cannot be redeemed, further movement can be halted by giving incentives to companies investing in the country.
    
    

  • Indian IT honchos shrug off Obama threat to outsourcing
    The Indian IT industry remains unfazed by the threat to outsourcing sounded by US Democratic presidential nominee Barack Obama. "Companies that ship jobs overseas will not get tax breaks," he said in his nomination address at the Denver democratic national convention last week.

    Having survived the campaign of former US Democratic presidential candidate John Kerry four years ago on jobs being "Bangalored" because of outsourcing, head honchos of leading IT firms here say: "Don't read much into what Obama said in a poll campaign. He didn't say either that firms creating jobs in America will get tax breaks.
    
    

  • IBM India inks $450 mn IT deal with MNYL
    IBM India has entered into $450-million IT outsourcing contract with private insurance player Max New York Life (MNYL). The technology services behemoth, which has already showcased the advantage of total IT outsourcing with the telecom major Bharti, is expecting this deal to pan out in the similar manner.

    The deal, spread over ten years, will see IBM India providing complete end-to-end backend IT infrastructure to MNYL.
    
    

  • Incentive plans in BPO companies lag general market practices
    Attrition rates in India's lucrative BPO industry are about 7.8 percentage points higher than in other industries, according to a report released today by Hay Group, a global management consulting firm.

    The finding comes from a new report, BPO Special Sector Survey 2008, based on Hay Group's global online compensation and benefits database, PayNet. It showed that in general, staff turnover in India is 15.7 per cent, but at BPO companies, attrition is the country's highest at 23.5 per cent, followed by Communications (22 per cent) and Retail (18 per cent).
    
    

  • Now, Europeans are more open to outsourcing: E&Y
    Infosys Technologies’ acquisition of UK’s Axon couldn’t have been better timed as a new study finds that Europeans are becoming more open to outsourcing. The French, however, are likely to be more reserved than their English counterparts when it comes to adoption of outsourcing, according to a Ernst & Young study completed last month. The study found outsourcing was being used by 70% of the European firms surveyed.
    
    

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