With India’s GDP figures out on 31st August, India is set to see growth
India’s GDP figures due out 31st August for the quarter are predicted to see a modest increase, with The World Bank predicting growth to recover over the year 2017-2018 and gradually increase to 7.7 percent in 2019-2020. 70 years on from its independence, India is the fastest-growing large economy in the world, with its $150-billion information technology (IT) industry heralded as a beacon of the economy.
India is building a global presence in areas such as artificial intelligence (AI), big data, robotics, cloud and Internet of Things (IoT). Digital modernisation in the West is increasingly being supported by Business Process Outsourcing (BPO) companies, with many innovations in UK companies being driven by Indian expertise.
Bhupender Singh, CEO of Intelenet® Global Services, comments: “70 years of independence has seen India transform into a global powerhouse. Indian technology innovation now positively impacts companies around the globe, and in particular, the UK and US are growing as recipients of Indian IT outsourcing investment.
“Nearly all Western companies are on the journey towards digital transformation, but going digital is much easier said than done. For those that are not digitally native, the investment that expert Indian companies have made into emerging technologies is crucial for business growth. Outsourcers have moved on from simply delivering routine tasks. Often, clients expect outsourcers to know their business and the opportunities for innovation better than they do.
Bhupender further comments: “India has become a powerhouse of digital transformation, with it currently being the world’s largest global sourcing destination. The IT sector contributes around 10 percent to the gross domestic product and nearly 25 percent of the country’s exports. The UK and US are facing a shortage of skilled tech workers, and so access to India’s highly skilled talent pool is essential.”