Outsourcing

India may account for 8-10% of global work share to CDMOs by 2033: Report

India could potentially account for 8-10 per cent of work share outsourced to CDMOs globally by 2033, an outcome of a significant amount of work shifting from EU and the US to Asia, a report by McKinsey & Company has said. The global CRDMO (Contract Research Development & Manufacturing Organisation) industry is about to witness a re-distribution of outsourcing work across several Asian countries, with India and Korea emerging as new powerhouses by 2033, the report said. According to a McKinsey analysis, by 2033, India could potentially account for 8-10 per cent share of work outsourced to CDMOs globally. "This growth is largely driven by the evolving geopolitical environment with most Indian CRDMOs expecting 20-40 per cent of their new business to stem from these changes," the survey stated. As per market estimates, the global CDMO industry is estimated at USD 224 billion which is expected to rise to USD 465 billion by 2032. McKinsey & Company Partner Anirudh Roy Popli ...

Global companies pick India for their digital services, says Nasscom

Nearshoring is a business practice that involves outsourcing tasks to neighbouring or nearby countries rather than distant offshore locations

No more euphemisms: India's sell-side researchers should say what they mean

Last time, trouble erupted in banking, and this time, it is brewing in outsourcing. Euphemisms are more damaging than the unvarnished truth

Include provisions to protect rights of outsourced staff: Govt to states

The Centre has asked states to incorporate certain provisions in the contracts of outsourced workers to protect their rights amid concerns about underpayment of wages and other benefits. The Ministry of Labour and Employment recently incorporated six statutory obligations on GeM (Government e Marketing) portal in the contract of hiring manpower through outsourcing agencies in Government of India offices in order to protect the interest of the contractual workers, a labour ministry statement said. Of late in a letter addressed to Chief Secretaries/Administrators of all States/UTs, Union Labour Secretary Arti Ahuja has expressed concern about the underpayment of contractual workers engaged in State/UT offices through outsourcing agencies due to unauthorized deduction in wages of such workers made by the manpower hiring agencies. Further, she also expressed concern of the delayed payment of monthly wages to such workers by the agencies and low deposit of EPF (Employees Provident Fund

Action against M&M Financial Services won't affect other NBFCs: RBI

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

Outsourcer iEnergizer Ltd in discussions on sale to buyout firm BPEA

iEnergizer offers customer management and custom content development services, according to its website

A billion-dollar deal seals Blackstone buyout of visa outsourcing firm VFS

Company founded in India in 2001; now among its top 3 markets

RBI issues norms for outsourcing payment, settlement activity by PSOs

Bars PSOs from outsourcing core management functions, including risk management and internal audit; compliance and decision-making functions such as determining compliance with KYC norms

We foresee major outsourcing by India clients ahead: IBM GBS country head

In a Q&A Kamal Singhani talks about outsourcing trends, adoption of cloud, digital and AI by Indian enterprises and his firm's approach to startups

Spurt in outsourcing, digital deals to drive IT sector rebound: Crisil

The 100 billion dollar information technology services sector will stage a strong recovery this fiscal with revenue growth of 10 to 11 per cent, according to Crisil Ratings

Outsourcing service provider BLS to help Amazon expand India footprint

The company provides outsourcing services to governments and diplomatic missions globally

PLI scheme, outsourcing to aid Dixon Technologies' growth trajectory

Brokerages expect mobile volumes to rise multi-fold over the next two years

Third wave of IT outsourcing expected post Covid-19 to benefit India

Post Covid-19, a third wave of IT outsourcing after the previous ones in the year 2000 and 2008 is expected, which would benefit Indian IT companies and tech jobs

Forget catch-up, think futuristic, go big

"Catch-up" and "limited resources" are constants for our economy post-independence

Covid-19: India's outsourcing sector struggles with work-from-home scenario

That raises questions about whether one of India's showpiece industries can function smoothly amid the coronavirus crisis.

Latest PSB merger could create Rs 5,000 cr business in IT outsourcing

Including consultancy companies, around Rs 5,000 crore of business could be generated

Manpower reforms: Adityanath government moots new outsourcing policy

Draft policy being hammered out before being sent to cabinet for approval

SC offers relief to MNCs over India outsourcing business tax

The case relates roughly to assessment years 2000-01 to 2002-03 and 2004-05 to 2007-08

US contractor fined $3.1 million for illegally outsourcing work to India

Focused Technologies Imaging Services, its sole owner Charles Tobin and former co-owner Julie Benware agreed to pay the penalty