Question

Explain BPO and BPM industry in India​

Answer 1

➠ AnSwer :-

➝ Business Process Outsourcing (BPO) :-

• In India, Business Process Outsourcing (BPO) is the fastest growing segment of the ITES (Information Technology Enabled Services) industry.
• The BPO boom in India is credited to cheap labor costs and India's huge talent pool of skilled, English-speaking professionals.

➝ Business process management (BPM):-

• The IT-BPM industry in India accounts for 55% of the total global outsourcing market. In India, it accounts for more than 45% share, which is the largest, in total services export.
• The IT-BPM industry in India constitutes ~ 7.9% of India's GDP.
• Indian IT & BPM industry is expected to grow to USD 310 Bn by 2020.

Answer 2

The IT-BPM industry is the largest private sector employer – delivering around 4.14 mn jobs. The industry accounts for more than 45% share in total services export from India. India is the 2nd largest9 start-up ecosystem in the world with 18,000+ start-ups recognized by the government till May 2019.