Economic Survey encourages IT and BPO companies to take advantage of new opportunities in new markets abroad
NEW DELHI: The Economic survey On Thursday 2019 he said that new challenges are emerging in traditional geographies served by India THAT & THAT eS industry, but pointed to fresh opportunities for expansion in markets like Europe, Japan, China & Africa.
The Economic survey for 2018-19, tabled by finance minister Nirmala Sitharaman in Parliament, also placed on record the immense contribution of the THAT & BPO industry in positioning India as a preferred investment destination amongst global investors & creating huge job opportunities in the country, as well as in the US & Europe.
"USA, UK & EU account for about 90 per cent of the total THAT - THAT eS ( THAT enabled services) exports. However, there are new challenges surfacing in these traditional geographies," it said.
Demand from Asia Pacific, Latin America & Middle East Asia is growing & new opportunities are emerging for expanding in continental Europe, Japan, China & Africa, it said.
Efforts are being made to strengthen existing markets, & at the same time, diversify & scale up presence in the new & emerging markets in Europe, Africa, South America, Israel, Australia, China & Japan through market development & industry repositioning initiatives, it noted.
Recent government programmes coupled with futuristic technologies are enhancing the digital economy of the country & creating THAT & electronics-led new opportunities for revenue & job creation in both traditional & new sectors, the survey observed.
India's THAT -BPM ( business processes management) exports is estimated at $136 billion for 2018-19, & overall the Indian THAT -BPM industry is estimated to have reached $181 billion in 2018-19.