Target of $50 billion by 2020

India’s information technology industry body Nasscom has set a goal of achieving $50 billion in revenue from the business process outsourcing sector by 2020, an ambitious target for a segment that earned $18 billion in the year to March. Despite the slowdown in the rest of the IT sector, business process outsourcing has grown fast, a trend that is likely to continue as companies look for more ways to streamline their processes and cut costs. The industry has adopted a truly global delivery model and has grown in strength to strength not only in voice processes but also in analytics -based solution, supply chain management and proving business transformation services. As yet another step towards achieving the industry vision, Nasscom announced the launch of the Business Process Management Council and Keshav Murugesh, Group CEO, WNS Global Services, was appointed as the chairman. The council will also work to further the rebranding of the industry from business process outsourcing to business process management and will try to create segments that Indian players can dominate in higher value areas such as financial and accounting and analytics and multi-channel customer service. The council will look to create incubation labs in these business segments. India currently has a 36% market share of a global BPM market, and close to double that amount in knowledge services business.