India and its Supremacy as a Destination for Global App Growth: A Comparative Analysis
With its ample technical resources and low employment rates, India is leading the worldwide software production outsourcing destinations. Countries such as the United States find access to talent locally and affordably, especially challenging.
Here are some statistics and figures symbolic of India’s rapidly powerful global domination of the outsourcing of software growth.
Factsheets
| Talent Pool | India has an immense talent with over 1 million techies graduating every year, as per Gartner reports. |
| Specialization | India is favored over other contenders in the business owing to its expertise in Digital Marketing, Cloud, Analysis, Programming, and Software Development. |
| Revenue | According to the National Association of Software and Services Companies (NASSCOM), there are 500 companies in India offering outsourcing services to over 66 countries. India’s outsourcing industry was $200 billion strong in FY2020. |
| Global Spending | Global spending in the software industry in India is estimated to be around $10.75 billion by the end of 2020 |
| Startups Boost to MNCs | A strong and progressive startup ecosystem in India, comprising about 3000 companies, helps in fostering a growth environment for establishing MNCs in India. |
Primary Reasons Why you Should Outsource Software Development to India
1. Cost-Efficiency
The affordability of India software production is one of the principal reasons why it looks exciting. Hiring a development partner in India is comparatively cheaper, and the prices generated are far below worldwide. While the price structure is cost-effective, the efficiency of the software is not sacrificed for outsourcers; the consistency, quality, and exceptional value of what they are told.
2. Required Skill-Sets
In India, IT developers with the requisite skills have the greatest strength. Other competitors of Eastern Europe and Africa have just a few hundred employees employed in the IT production sector, compared to its constructive talent force. The figure is fewer than the number of workers to justify the significant production needs of firms as they arrive.
3. Market Size
With startup firms emerging on the horizon, the IT and software development sectors continue to evolve. As the one Bloomberg terminal carried to the trading desk, they have the potential to bring in remarkable improvements.
According to Deloitte’s latest Global Outsourcing report, most respondents expect to raise their current outsourcing rate in tomorrow’s time.
With the Indian IT footprint growing, the technology will have to expand to satisfy the ever-transformative and varied market niche requirements. To effectively solve the most complex criteria, developers are actively gaining new skills and tools for increasing their domain awareness. This gives Indian Outsourcing a more edge, known as speciality experience, and helps it succeed effortlessly.
4. Stringent Security Regulations and Flexible Law Body
Atmanirbhar Bharat is greatly improved and optimised to make operating partnerships more friendly and scalable. India joined the community of 100 countries in 2020 for the first time in terms of the World Bank’s ease of doing business. The government has continued to improve business-reforms, space outsourcing and legal bodies to boost India’s role on the international map and strengthen its credibility as the favoured outsourcing destination. The rising position of India is also due to a non-compromising approach to improving IT and securities regulations to deter data manipulation and leakages.
India hits rivals like China and the Philippines hard on their costs and their labour. Still, its maturity growth, which is dependent on a variety of factors such as infrastructure, protection and privacy, training, government power and autonomy, language, and cultural diversity, is utterly uncompromising.
Indeed, India is an innovation leader in product creation and outsourcing strategies.
Neolite Infotech India Pvt Ltd as Your Outsourcing Partner
Neolite Infotech is a profitable outsourcing partner with various offshore customers in the USA, the UK and Europe. With just the optimisation that will be required, we concentrate on developing quick and efficient software development solutions. Our team builds high-performance consumer tech solutions that help them scale up the business, reduce operating expenses, decrease time spent on the market and optimise customer engagement. And if we sign an outsourcing deal, we will not leave every stone unturned to satisfy your idea of a commodity and broaden your value proposition, taking the trouble away from the everyday company.
