Highlightthe role played by BPM industry in India
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Answer:
The IT BPM (Business Process Management) industry has been fueling India’s growth. In addition to contributing towards the country’s Gross Domestic Product (GDP) and exports, the growth of the IT BPM industry has provided India with a wide range of economic and social benefits which includes creating employment, raising income levels, and promoting exports. It has placed India on the world map with an image of a technologically advanced and knowledge-based economy. This sector attracts amongst the largest investments by venture capitalist and has been credited with enabling the entrepreneurial ventures of many in the country.
The IT-BPM industry has almost doubled in terms of revenue and contribution to India’s GDP over the last decade (2008–18). BPO Service Industry is doing exceptionally well in India because of the following advantages:
(a) BPO service providers in India invest in hi-tech hardware and software to deliver the best of services. They follow quality checks to ensure error free and exceptional service.
(b) Government of India is encouraging the BPO Industry in India by providing necessary infrastructure and logistical support.
(c) BPO Industry in India is highly developed and capable of delivering numerous types of BPO