New business avenues have been presented due to technological evolution and rise of knowledge enterprises. This article looks at the emergence of KPO sector in the present time and the opportunities available in India for growth in the next decade
The maturity of BPOs in India has fostered the growth of KPO’s or Knowledge Process Organizations. Globally the market trends have changed and become more competitive, this has reduced the time for introducing a new product in the global market. As we are aware of the ever rising demands of the customers, global enterprises have incorporated new business models and techniques which enhance operational efficiency. These new responses have added tactical values to their services and products wherever they want to set their business operations.
Major business enterprises have initiated with high end knowledge outsourcing to low wage destinations. There is tremendous potential left for the KPO industry to mature and evolve in India. There are more than 2 Lakh knowledge professionals working in this industry. The growth rate of KPO sector in India is more than 45 percent which is almost double to the growth in the BPO industry.
In India more than 3 million graduates get out of college every year. India prides itself in possessing the second biggest pool of scientists and engineers in the world. As India provides major businesses valuable human capital for outsourcing knowledge there is not a doubt that KPOs in India are bound for further growth in this decade.