However, it is not a bad news for everyone, as the report predicts that medium and high skilled jobs will see a rise during the said period. Due to a rise in adoption of automation and artificial intelligence, the number of low skilled workers in India's IT and BPO service sectors could fall from 2.4 million in 2016 to 1.7 million in 2022, it said.
The Naukri JobSpeak index for March 2017 stood at 2,073, up 5 percent from the year ago level, indicating an upsurge in the overall hiring scenario.
There are worries over what automation will do to jobs in the business process management (BPM) industry. But, Partha Desarkar, CEO of Hinduja Global Solutions believes a lot of it is hyped.
Essar's outsourcing business Aegis has set up BPO facility at Jamshedpur with 2,500 seating capacity.
Hinduja Global Solutions, the BPO arm of diversified Hinduja Group, today reported over two-fold increase in consolidated net profit to Rs 47.21 crore for the December quarter.
BPO has been renamed to Business Process Management (BPM) â€“ encompassing a larger piece of clients‘ activities and reinforcing the impact our industry has on businesses, says Partha DeSarkar, CEO, Hinduja Global Solutions.
"India is on the radar of fund managers for good growth potential. Large institutional investors believe in long-term growth potential," said John Fitzgerald, chief executive of the Urban Land Institute (ULI).
This forecast provides total enterprise IT spending for internal spending and spending on data center, devices, software, IT services and telecom services, Information technology research and advisory company Gartner said.
The September Monster Employment Index (MEI) India registers 10 percent year-on-year growth. Logistics registered 32 percent jump, while hiring of customer service professionals registered 66 percent rise.
A tough global economy, tightening client budgets, and rising costs have pushed the Indian IT-enabled services like BPO's into a cost-control mode. CNBC-TV18 tells us how the government's BPO promotion scheme is redrawing the Indian BPO landscape, with tier-2 cities becoming major attractions.
The acquisition, the first by India and South Asia- focussed Everstone in the US, is being done through Everise Services, a Singapore-based company held by Everstone, along with Sunrise BPO as a co-investor, Everstone said in a statement.
IT Ministry today said it has given its in-principal approval for around 9,000 seats in business process outsourcing (BPO) units across several small cities of the country, including Varanasi, Siliguri and Patna.
Jharkhand is organising the Global Investors Summit 2017 on February 16-17 in Ranchi to promote the state as a favoured investment destination. It had held a road show here in connection with the summit.
According to RecruiteX, the recruitment index by TimesJobs.Com, after witnessing a numb phase for the last two months, hiring activity picked up pace with a 8 percent surge in August.
The estimated employment for export-oriented sector saw a net addition of 1.22 lakh persons in January-December 2015, she added.
During the first of its kind Indo-US BPO Summit in Florida in the United State, CNBC-TV18 met experts and industry leaders to find out how India‘s BPO sector is focusing on digitisation and non-voice processes developing the right mix of on-shore and off-shore presence and is rebranding itself as the business process management industry.
Referring to a recent communication of IT industry body National Association of Software and Services Companies (NASSCOM) to the Centre, Solicitor General Ranjit Kumar said the BPOs, also known as 'call centers' may shift out if their work is adversely impacted due to the ban.
"The BPO industry would be affected as diesel taxis had been used for pick and drop facilities of the employees. It will affect the economy," Solicitor General Ranjith Kumar told a bench headed by Chief Justice T S Thakur.
Prime Minister Narendra Modi visited the TCS centre, first such facility to have only women employees. The Prime Minister was accorded a very warm welcome at the centre by the employees belonging to 17 countries of the region.
Kritika Saxena tries to hunt for India's three largest BPO players' views on the second day of Nasscom India Leadership Summit.
The consolidated net sales, however, grew by 20.53 percent to Rs 882.91 crore in the quarter under review from Rs 732.52 crore in the same period a year ago, the company said in a BSE filing.
Profit stood at Rs 39.3 crore in the same quarter of the previous year, the Chennai-based company said in a statement.
Asked about operators approaching Delhi High Court against the Trai's regulation of imposing penalty for call drops, the minister said court would take its decision.
The company will acquire 100 percent stake from Serco and the transaction will be completed by 2015-end.
In tune with the need of the hour the Outsourcing Summit 2015 organised a panel discussion comprising of eminent speakers who looked into the changing customer expectations and how service providers need to rethink their business models to meet their business needs.