In India, Business Process Outsourcing (BPO) is the fastest growing segment of the ITES (Information Technology Enabled Services) industry. Factors such as economy of scale, business risk mitigation, cost advantage; utilization improvement and superior competency have all lead to the growth of the Indian BPO industry. Business process outsourcing in India, which started around the mid-90s, has now grown by leaps and bounds.
India is now the world 's favored market for BPO companies, among other competitors, such as, Australia, China, Philippines and Ireland. The BPO boom in India is credited to cheap labor costs and India 's huge talent pool of skilled, English-speaking professionals. Research by the National Association of Software Services and Companies (NASSCOM) has revealed that quality orientation among leading BPO companies, 24/7 services, India 's unique geographic location and the investor friendly tax structure in India have all made the BPO industry in India very popular.
The industry has been growing rapidly. The BPO sector in India is estimated to have reached a 54 per cent growth in revenue and The demand for Indian BPO services has been growing at an annual growth rate of 50%. The BPO industry in India has provided jobs for over 74,400 Indians. This number is continuing to grow on a yearly basis. The Indian BPO sector is soon to employ over 1.1 million Indians. 70% of India 's BPO industry 's revenue is from contact centers, 20% from data