Bangalore: The United States of America and Europe have been the most important destinations for India’s business outsourcing firms and software service providers. Following the footsteps of the two developed markets, the Middle East has now become the hot spot for Indian BPO’s. Some of the best companies of India have recently grabbed many projects in United Arab Emirates, reports DNA.
Wipro stands at No.1 position to have made the maximum number of long term, large deals with UAE since Arabia trading agreement which made it a favored IT partner for outsourcing from the Middle East. Other companies like Cognizant bagged a deal from Saudi Electricity Company, WNS won a deal from a shipping and logistics company in Middle East and so on.Indian firms are very enthusiastic to win projects from Middle East since there is a great demand for outsourcing, especially for engineering, finance and accounts, and technical helpdesk in different sectors like banking, utilities and telecom.
About 85 percent of the revenues of BPO firms and software companies in India come from the U.S and Europe, and a small portion is contributed by Middle East. But the outsourcing of Middle East is expected to grow by at least 50 percent per year for the next two years due to its small base which is similar to size and scale of Indian market.
“The sincere government initiatives are helping the Middle East emerge as a preferred outsourcing destination. Be it the development of outsourcing zones that provide a purpose-built infrastructure, their investment in creating skilled labor or its geographic proximity to Europe, the region has put in significant efforts to prove a favorable BPO destination” said Bhupender Singh, CEO, Asia, Middle East and Australia, Serco Global Services.