Indian companies nowadays have met competition from Chinese information technology (IT) industry, global-based IT service Keane Worldzen's Managing Director Harsh Vinayak told Xinhua in an interview here Monday.
While talking about if China's IT-BPO (Business Process Outsourcing) industry can catch up with that of India, Vinayak cited a recent Mckinsey, ATKearney, NASSCOM survey, saying that in offering the complete off-shore outsourcing solution to the global marketplace, China is second only to India, one of the world's strongest.
Vinayak said, "China has some ways to go before it catches up. With its new education drive and better infrastructure, it might come at-par to India in the near future. No wonder why all Indian giants are busy establishing a China presence."
Speaking of managerial advantages of Indian IT-BPO industry, Vinayak said, "India has a supply of very experienced, business savvy managers at the highest levels who are connected to the global marketplace, have the cultural understanding of potential global customers and have deep industry vertical knowledge."
Meanwhile, though both Indian and Chinese IT-BPO industries boast of low cost solution, ability to quickly scale up and down, and excellent availability of technical and non-technical resources, Vinayak stressed that they lack of long-term relationships with the customer.
In addition, Vinayak expressed his confidence in the prospect of the IT-BPO industry, saying that the IT service market is expected to grow at the compound annual growth rate (CAGR) of 5.8 percent, from 624.8 billion U.S. dollars in 2005 to 828.1 billion dollars in 2010, according to Gartner Dataquest's latest forecast.
And according to forecasts by Avendus, the BPO market will grow at an even faster CAGR of 9.5 percent, reaching 173 billion dollars this year.
Keane Worldzen has large presence in India, with branches setting up in the United States, Canada, France, and among others.
Source: Xinhua
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