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Indias largest BPO firm, Genpact, is all set to enter the domestic USD 1.60 billion ITeS BPO market. It will also foray into the BPO market in China where it has 3,000 employees. We have ignored these markets for far longer than we should have. The time is right for us to enter the India and China markets as our products are wellsuited to the market requirements and local companies are also ready for these services. We would start with some of our highend offerings like reengineering services, customer service and finance and accounting work in these markets, Genpact president and CEO Pramod Bhasin said.
Genpact is also eyeing acquisitions in India with valuations being attractive at this juncture. “We have a potential list of Indian companiescaptives, niche services firms and small IT companies. Valuations are better and we find many attractive targets in India, he added. Genpact has USD 314 million in cash and cash equivalent and shortterm deposits.
The Indian ITeS BPO sector, which currently stands at USD1.6 billion, is expected to reach USD11 billion by 2012. Indian IT BPO players, which for long focused only on the export markets, have begun paying attention to the domestic market, a move driven by the slowdown in the US market as well as large deals in the domestic space like the billion dollar Bharti IBM deal.
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