How India Continues to Maintain its Leadership Position in the Global Technology Landscape

India continues to reinforce its position as the only country in the world from where one can do anything and everything. India has continued to maintain its first mover advantage and retained its leadership position in the global sourcing arena with a share of 55 per cent in FY2015. At the foundation of this value proposition are four robust growth pillars, which defines its attractiveness as a key destination.

A highly connected and a digital ready economy- India remains a high potential market worldwide, offering multiple opportunities for unmet needs. With the world’s second largest population (~1.3 billion), India also presents a large, burgeoning end-user market. Additionally, with 937 million mobile subscribers, 278 million internet users, an USD 14 billion eCommerce market, and an economic growth rate that is soon expected to surpass that of China, India is set to leapfrog into the digital world. The Government’s Digital India and Make in India initiatives are only expected to accelerate India’s plunge into the connected digital world.

India, remains an excellent business delivery center for the IT-BPM industry- Currency movements and increased operational efficiencies have ensured that India’s position as the world’s most cost competitive sourcing destination has only become stronger in the past year. Even Tier I cities in India like Bengaluru continue to be between 8-10 times cheaper than source countries and significantly cheaper than other low-cost destinations. Additional cost benefits have been passed on to customers through astute internal initiatives including moderate wage inflation, adopting automation and non-linear models to control salary expenses, introducing newer career bands, flattening organisational pyramid, etc.

India is home to the highest volume of diverse, employable talent in the world. India is expected to churn out nearly 5.8 million graduates and postgraduates in FY2015, out of which 1.5 million people form an industry suitable, ready to hire pool. At the same time, the IT-BPM industry has been growing in size, scale, maturity and domain expertise and focused in addressing what customer businesses’ demand. The industry has been catalyzing business transformation for global clients through its established global delivery chain – ~640 ODCs across >78 countries, acquiring local talent for language skills and cultural compatibility with clients.

The variety and scale on offer in India again allows for multiple collaborative models to exist. This unique diversity gives ample opportunities to providers to choose their organisation size, business models to adopt, and what kind of partnerships to create. The agile start-up ecosystem (3,100+ start-ups) in the country has impacted large enterprises too – the need to be nimble has prompted larger firms to re-organise their structure with advanced decision-making capabilities, while the need to offer innovative, unmet needs has led them to build partnerships with smaller firms.

The Indian technology industry is today a global “Digital Skills Hub”- Today, the country hosts ~7,000 digital focused firms with start-ups fueling innovation by investing further in futuristic technologies. India has been creating a future-ready digital workforce, with more than 1, 50,000 employees with SMAC skills. ~50,000 employees are skilled in analytics, 30,000 people in enterprise mobility and >50,000 in cloud and social media & collaboration.

A strong innovation backed ecosystem- Companies in India are consistently innovating around products, processes and business models to deliver enhanced value propositions to the clients. While start-ups are increasingly driving innovation around emerging tech-dependent areas like edu-tech, health-tech, ad-tech etc., large firms are looking to benefit by investing, co-creating and partnering with innovative startups.

The above initiatives are ensuring consistently high CSAT scores from clients, with over 85 per cent agreeing that transformative work can be delivered out of India, and further reinforces India’s leadership position in the global sourcing market.

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