GENPACT Tops NASSCOM’s Top 15 Third-Party ITES-BPO Companies
By Paul Catiang

Outsourcing giant GENPACT ranked first in the annual survey on IT industry performance conducted by the National Association of Software and Service Companies (NASSCOM), the premier chamber of commerce of the IT software and services companies in India. Following in descending order were WNS, Wipro BPO, HCL BPO Services, ICICI OneSource and IBM Daksh. These rankings are based on revenues for Financial Year 2005-06, the reports of which were submitted to the NASSCOM survey.

Within that same time period, the Indian ITES-BPO industry grew by 37 percent, accounting for US$ 6.3 billion of the total software and services exports of US$ 23.6 billion. The employee base also grew from 316,000 to 415,000 during that time.

Kiran Karnik, president of NASSCOM, commented on the survey results, saying, "In 2005-06, the industry size and growth exceeded our forecasts, reflecting strong demand. The entire software and services industry is expected to record revenues of US$ 36-38 billion in FY 07; we expect the ITES-BPO segment to continue its growth momentum and expect exports to cross US$ 8 billion during FY 07."

The NASSCOM president also explained the industry’s steady development, citing "a steady increase in scale and depth of existing service lines; the addition of newer vertical-specific and emerging niche business services; continued expansion of service portfolios and higher value processes. In addition, the BPO industry has significant headroom to grow, with the offshorable potential being 12 times current revenues. The industry is likely to continue to witness an increase in M&A activity which could lead to a significant consolidation in the BPO industry, in the process creating world scale players.”