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Posts Tagged ‘India’

One of the most rewarding businesses is investing in Currency trading India. If you opt for online trading, it is all the more profitable since your money flows through the entire market and garners better and higher profits.

Also, when you trade online, it helps one to get valuable insights on better trading options and your returns are more as compared to that when you trade with brokers. Also, Currency trading India is something you can indulge in round the clock. This gives you an opportunity to trade with people across the globe too ensuring that your profits are much higher than what you would have garnered otherwise. Also, since it is a booming business and since the competition is huge, the transaction rates are pretty low.

Currency derivatives trading have seen a rapid growth since more and more are realizing that it is a very profitable field and investing in it is bound to get you good returns. Currency trading derivatives usually helps one to get good returns and has a lot of value if one manages it efficiently and invests wisely.

It is essential for an individual to understand the finer nuances of how a market functions and once you are thorough with your research and know the plans-both short term and long term which function and suit you best, you can invest in it and get the maximum benefit out of it.

If you are a novice in the field, you are advised to take professional help till you get a grip on things yourself to avoid financial mistakes and so that you do not invest in wrong plans and suffer losses. A number of firms having advisors ensure that the clients have a complete knowledge of plans which works best for them thus turning their investments into desired profits.

Introduction:

  Liberalization, globalization, privatization are the important issues to the corporate threatening the existence of business.  In such a complex corporate environment, a business entity needs to perform various functions and obligations to carry out business activities very effectively.  Of these functions, it performs certain other functions, which are not its core areas.  For instance, the core area of many manufacturing unit is the manufacturing process and its allied areas. 

 However, traditionally it performs HR functions, accounting and finance, marketing functions, requires less thrust.  In today’s competitive world one needs to have more efficient and effective way of functioning.  So the company (or) an industrial unit may concentrate on the area of core competency. (Friendship with enemy)  (i.e.) manufacturing and attaining greater success in producing product / service.  The other functions may be outsourced to some specialists who are not part of the organization.  This will enable the organization to reduce its cost on those processes.  Besides that, the potential of Business Process Outsourcing can be the following:

It helps to key in on the corporate core business activity. It enables to obtain outside expertise. It helps to meet constantly changing customer needs. It helps the companies to increase their sales and market share.

In the backdrop of the above, this article makes an effort to outline Business Process Outsourcing and off shoring particularly in IT enabled services in India.

IT ENABLED SERVICES – (GLOBAL OUTLOOK):

      The ITES industry of which Business Process Outsourcing forms a very significant part is expected to be as $17 billion industry in India and generate over 1.1 million jobs by 2008.  The growth rate of industry is as high as 73% resulting in 7100 crores revenue.  Total revenues, employment generation of the industry substantially proliferated from 2400 crores and 45000 in 2000 to 4100 crores and 70,000 in 2001.

      The various segments of Business Process Outsourcing are:

(It is estimated that, a call center associate available for Rs.45 per HR in India, Rs 550 in USA). Bank office operations – Accounting / HRD.  Medical Transcription services.  Contact Development / Animation etc. Data Research, Market Survey, Management Consultancy etc.

 

BPO – FACTORS FAVOURABLE FOR INDIA

Availability of English speaking and computer literacy population is plenty. Availability of latest technology including statistical techniques. Realization of improved service metrics. Product specific expertise. Lower service costs. Appropriate geographical coverage, hours and days of coverage. Key human resources for handling the programmes outsourced. Well-documented information review and control system.

 PRESENT TRENDS:

It is noticed that, even as the US outsourcing market size continues to attract IT Service providers in droves, the Asia pacific outsourcing market is also beginning to look up. The outsourcing market place with in the Asia pacific region excluding Japan market is likely to cross the 10 billion dollars mark in 2006, as per the reports of international data corporation. (IDC). it has been observed from the opinion expressed by the IT experts ,India and china are becoming  high growth markets in the opportunities of BPO & Call  centers in the next five years. This strong build up is primarily driven by the increase of the growth of infrastructure over the past several years .it is also found  that from the records of  IDC, it is clear that The Singapore and Hong Kong markets will seem saturated with the limited room for expansion. However there are potentials in contract renewals and extensions to migrate from support contracts to manage or outsourcing contracts.

  The internal outsourcing was a widely held in practice in Australia, with 4000 call centres employing over 2 lakh people. The market is valued at Aus$2.5 billion and is projected to increase to Aus$3.6 billion by 2008.india has the potential to utilize this offer  because of time zone difference of just four and half hours and the cost arbitrage estimated to be about 30% per seat. From the observations of both quantitative and qualitative data, it is found that, with the expansion in to a global market, the need for 24×7 services becomes imperative, which in turn makes off-shoring a necessity.

MAJOR ISSUES:

Even though there are various positive factors contributed for achieving this key position for India (for outsourcing and off -shoring opportunities), it is pertinent to note some of the issues in Business Process Outsourcing. This seems to be the road blocks in the Business Process Outsourcing growth of trajectory.  They are as follows:  

Security concerns (security of customer, clients data) Tension between India and Pakistan and the talk of terrorism acts in various states / centre. The infrastructure include namely power, telecom is not reliable in India. Licensing policies in India, restrictions in labour and economic laws, interconnectivity and technological restrictions, power supply problems, bureaucratic delays, inadequate regulatory support, ambiguous laws on e-Business, Data protection and privacy, in clear definition of ITES and lack of training centers.

 WHAT IS TO BE DONE?

The moot question is, how should India retain the status of preferred destination?  Cost saving and labour arbitrage would cease to be differentiators in long term as other countries try to catch up.  In the long run process improvements and re-engineering, bringing about real savings through cost reduction and productivity.  The key to success would be selection of the right activities / thrust areas to outsource, identification of right clients, right governance, ensuring security of data by investing in back up and de-risking their business sufficiently and moving up the value chain.

 CONCLUSION:

A typical ITES-BPO employee is young, well educated, articulate and driven to succeed- and at the same time unsure of his/her, longer term career objectives, restless for growth/learning, willing to experiment with jobs and job hop to gain experience/monetary benefits and disposed to peer pressure.  For this, one  need to be “Employee-Focused” rather than “Company-focused” to be together for a long time.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chennai has a robust and diverse economy that bases on automobile, software, hardware manufacturing, financial services and the healthcare industries. The region accounts for about 30% of India’s automobile sector and about 35% of the country’s auto components industry, hosting reputed companies such as Hyundai, Ford, BMW, Mitsubishi, TVS group, Ashok Leyland, Nissan-Renault amongst others that have set up their factories in the region. Other key industry players include the Heavy Vehicles Factory that is located at Avadi and manufactures vehicles for the military, and the Integral Coach Factory that has been crucial for the manufacture of rail Coaches and other rolling stock for Indian Railways. The Special Economic Zones situated in the south of the region produce textile goods while the Ambattur-Padi industrial zone produces footwear.

Chennai produces over 50% of India’s leather exports and it’s lined with a number of software parks, the most famous among them being the Tidel Park. Furthermore, the region leads with major electronics manufacturers such as Dell, Nokia, and Samsung having their manufacturing bases in the city. It accounts for about 14% of the Indian software exports, coming only second after Bangalore. In the financial services sector, renowned financial institutions like the World Bank, HSBC, Citi Bank have back office operations in the region.

In the health sector, industry giants include Apollo Hospitals, Sankara Nethralaya and Sri Ramachandra Medical Center that distinguish Chennai as having the best Healthcare facilities in the Country that have brought in quite a considerable number of medical tourists. About 45% of health tourists from abroad and a 30 to 40% of local tourists have been to the region when compared to other regions in the Country. Health industry can be the best sector for investment in India.

As an industrial hub of south India, Chennai’s diversified economic base that largely depends on trade and industry has been at the core of its attractiveness for investment. On the overall, the main industries in its economy include automobile, software services, hardware manufacturing and the financial services sector. Its software and bio-tech sector has attracted big names in the business such as Wipro, Infosys, TCS, HCL, EDS, Accenture, Sun Microsystems and HP. The creative and film industry have done fairly well in Chennai with the Tamil film industry, second only to Mumbai being based in the region. For investment, Chennai offers suitable facilities for the establishment of small scale industry with its very liberal investment policies on setting up industrial units. Its huge population of graduates particularly engineering graduates has been at the forefront of this bubbling industrial and trade services economy.