Offshore Industry Reports More Business in Third Quarter

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Nov. 9 – Indian outsourcing firms reported better business during the third quarter of this year according to the survey Everest’s Market Vista: Q3 2009.

“The Indian offshore industry is growing on the back of improving demand and continued advantages of India as an offshore destination. India-centric suppliers are investing in delivery capabilities and setting up new centers,” says the survey.

During the third quarter of this year,  global outsourcing destinations reported an 18-month high with 36 new supplier delivery centers and 28 new captives globally.

The report says that 11 new captive centers were established in India during the period, the highest number in the world while one-fourth of new international supplier delivery centers were also set up in India.

“The increase in the number of captive set ups reflect signs of recovery in the overall market. We expect the industry in India to continue this momentum in the last quarter of 2009 as well as in 2010,” Everest Group Vice President-Global Sourcing Amneet Singh told The Economic Times.