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Surajit Khaund, GUWAHATI, April 28 – Business Process Outsourcing (BPO) industry, which has been contributing a huge chunk of revenue to the Government exchequer, is now facing problems due to the ongoing global recession.
Market analysts who are closely monitoring the situation are of the view that the domestic BPO sector is likely to witness a major slump in revenue during the current fiscal which will lead to layoffs and salary cut.
North East has been playing a pivotal role in the BPO industry in the country. According to a study, there are about 12 lakh people working in the BPO industry of the country of which, this region contributes nearly 20 per cent accounting for 2.40 lakh employees. But, the prevailing crisis has left many of them jobless.
The 40-billion dollar IT-BPO sector in the country is likely to witness more layoffs in the coming days to withstand the current economic pressure. A report has already indicated that by September, nearly one lakh people in the IT sector may lose their jobs.
Anjan Bhattacharyya, who has been closely associated with the BPO industry for the last four years, has closed down a BPO unit due to plummeting revenues. The 36-seater BPO unit of the State has been shut down to tide over the crisis.
“I had to adjust the youths in other units to keep their jobs intact, though it is a tough step considering the poor BPO market,” Bhattacharyya told this correspondent today.
Citing reasons, he said that Indian BPO sector heavily relies on the USA market, but due to the financial turmoil, the flow of business from the country has started going down. “Several Indian BPO companies are now looking at other options to overcome the crisis,” he added. In this context, he informed that the Obama administration has also imposed heavy tax on the local companies as a result of which they have stopped outsourcing.
Worried over the situation, the Federation of Industry and Commerce of North Eastern Region (FINER), chairman RS Joshi appealed to the BPO industries to keep their jobs intact at this critical juncture. “Hundreds of youths of North East are working in the BPO sector across the country, so considering the situation, authorities concerned should look into the matter,” he said. Joshi also informed that FINER would take up the matter with all the State Governments in the region, besides submitting a memorandum to the new Government immediately after assuming office. “We want a revival package for the BPO sector,” he added.
Source: http://www.assamtribune.com
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Market analysts who are closely monitoring the situation are of the view that the domestic BPO sector is likely to witness a major slump in revenue during the current fiscal which will lead to layoffs and salary cut.
North East has been playing a pivotal role in the BPO industry in the country. According to a study, there are about 12 lakh people working in the BPO industry of the country of which, this region contributes nearly 20 per cent accounting for 2.40 lakh employees. But, the prevailing crisis has left many of them jobless.
The 40-billion dollar IT-BPO sector in the country is likely to witness more layoffs in the coming days to withstand the current economic pressure. A report has already indicated that by September, nearly one lakh people in the IT sector may lose their jobs.
Anjan Bhattacharyya, who has been closely associated with the BPO industry for the last four years, has closed down a BPO unit due to plummeting revenues. The 36-seater BPO unit of the State has been shut down to tide over the crisis.
“I had to adjust the youths in other units to keep their jobs intact, though it is a tough step considering the poor BPO market,” Bhattacharyya told this correspondent today.
Citing reasons, he said that Indian BPO sector heavily relies on the USA market, but due to the financial turmoil, the flow of business from the country has started going down. “Several Indian BPO companies are now looking at other options to overcome the crisis,” he added. In this context, he informed that the Obama administration has also imposed heavy tax on the local companies as a result of which they have stopped outsourcing.
Worried over the situation, the Federation of Industry and Commerce of North Eastern Region (FINER), chairman RS Joshi appealed to the BPO industries to keep their jobs intact at this critical juncture. “Hundreds of youths of North East are working in the BPO sector across the country, so considering the situation, authorities concerned should look into the matter,” he said. Joshi also informed that FINER would take up the matter with all the State Governments in the region, besides submitting a memorandum to the new Government immediately after assuming office. “We want a revival package for the BPO sector,” he added.
Source: http://www.assamtribune.com
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