Introduction To Outsourcing

• As of 2008, around 0.7 million people work in outsourcing sector (less than 0.1% of Indians). Annual revenues are around $11 billion, around 1% of GDP. Around 2.5 million people graduate in India every year, but only about 15% are suitable for employment in this sector. Wages are rising by 10-15% as a result of skill shortage.
• A business process that involves in contracting with another company to accomplish a particular task or tasks is called "Business Outsourcing". There are different types of outsourcing such as Business Process outsourcing, Offshore outsourcing, IT outsourcing, Infrastructure outsourcing, etc. It is a widely accepted methodology by all the major firms,some of them are Microsoft, IBM and Congnizant.This project mainly focuses on "IT and Offshore outsourcing".
• Information technology is nothing but the software and the hardware applications through which data transmission and storage occurs between computers anywhere on the globe.These applications are outsourced within the same geographical area or overseas.Contracting with companies overseas is called Offshore outsourcing.