As per India’s Prime Minister Dr. Manmohan Singh, India had the potential of creating more than ten million new jobs in the next five years through global outsourcing business. As per NASSCOM, India holds around half of the $40 billion work which is sent by European and American companies and it provides employment to around 1.3 million people.
Mr. Singh predicts that by the year 2010, India would be garnering half of the $110 billion in business that would be off shored. This would lead to the creation of more than ten million jobs and would push the growth of the country’s economy by one percentage point every year.
This would act as a catalyst for the world’s second fastest growing economy and the Indian government is expected to strengthen expansion to ten percent from the average figure of 8.1% in the past three years.
