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India's offshoring market, which accounts for about 65 per cent of the global market, is expected to grow at 50-60 per cent per year for the next five years, according to The Boston Consulting Group.
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In a study for the Confederation of Indian Industry, the BCG said that India's main asset – its people – is what is driving the offshoring opportunity.
"India is the largest English speaking nation in the world with the second largest pool of scientists and engineers (second to the US). Companies are able to realise significant cost savings by utilising the highly qualified labour force at attractive rates, and translate this into an important competitive advantage," the BCG report said.
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