Is India listening? Recently the Chinese Ministry of Commerce has awarded the title ‘of base for China’s service outsourcing business’ to the cities of Shenzhen, Chengdu, Xi’an and Shanghai. Now these cities are being labeled as the first batch of service outsourcing base cities.
This strongly indicates that China is gearing up for making inroads into the opportunities presented by the international service market. As of now the outsourcing market is valued between three to five hundred billion dollars and is expected to cross the figures of $1 trillion by 2008. China has just made a start and has already achieved service exports worth $900 million in 2005.
This demonstrates the potential of the country and certainly must send shivers across the countries which excel in outsourcing. I believe that China would be a reckoning force in the outsourcing industry few years down the lane.
