Connect with us
Monday,19-May-2025
Breaking News

Business

Indian BPO market to hit $8.8 bn by 2025 amid liberalised regime

Published

on

As India reopens, the enterprise spending on business process outsourcing (BPO) services in India is set to grow at a compound annual growth rate (CAGR) of 5.8 per cent to reach $8.8 billion by 2025, driven by huge push for outsourcing knowledge-based and vertical-specific processes, a new report showed on Wednesday.

According to GlobalData, a leading data and analytics company, the BPO market in India is now supported by the country’s efforts to liberalise regulatory guidelines for the BPO industry in recent times to ward off competition from countries like the Philippines, Malaysia, Mexico, and Canada.

“The country’s expertise in providing knowledge-based and vertical specific services, particularly in areas such as healthcare, life sciences, banking, insurance, legal processing, risk management, financial research, research and analytics, and digital marketing, are expected to drive growth during the forecast period,” GlobalData senior technology analyst Pragyan Tarasia said.

In June this year, the government liberalised guidelines for voice-based BPO firms (classified under other service providers (OSP)) by removing distinction between domestic and international service centres and allowing interconnectivity between all types of OSP centres.

Besides, providing ease of work for their employees who relocated to remote areas after the pandemic and enabling them to work from anywhere will also help BPO firms to improve scale and speed of services.

In November 2020, the government had simplified BPO and ITES guidelines to ease the compliance burden on service providers and establish the ‘Work-From-Home’ and ‘Work-From-Anywhere’ framework.

“The new guidelines will go a long way in enabling ease of doing business for the industry and establishing the country as the most preferred hub for BPO services in the world,” said Tarasia.

Enterprise spending on finance and accounting BPO segment, on the other hand, will grow at a fastest CAGR 9.6 per cent during the forecast period.

The large enterprise segment (1,000+ employees) will account for largest share of the total BPO spending in India through the forecast period.

“The combined spending from micro (1-50 employees), and small and medium enterprises (51-1,000 employees), on the other hand, will increase at a CAGR of 5.8 per cent over the forecast period,” said Tarasia.

Business

Govt unlikely to renew IndiGo pact with Turkish Airlines

Published

on

New Delhi, May 19: The government is unlikely to extend the commercial airline IndiGo’s leasing agreement with Turkish Airlines due to strained diplomatic relations following Turkey’s open support for Pakistan after the Pahalgam terror attack and Operation Sindoor launched by India to avenge the killings of 26 tourists.

“The current pact, which enables IndiGo to operate wide-body aircraft on the Delhi-Istanbul route, expires on May 31. The government review is underway and the deal is unlikely to be renewed given the broader diplomatic context,” according to an Media report, citing people in the know.

IndiGo currently operates over 500-seater Airbus A330s on lease from Turkish Airlines for its Istanbul flights. The partnership also includes a codeshare deal that allows IndiGo to sell connections to over 40 destinations in Europe and North America via Istanbul.

On Thursday, IndiGo defended the collaboration, calling it “strategic” and essential for offering Indian flyers long-haul international access.

Apart from the vocal support during the heinous Pahalgam massacre, Turkey has also supplied drones to Pakistan, which were used to attack India during Operation Sindoor.

The issue of renewal of the IndiGo agreement with Turkish Airlines comes up at a time when India is already snapping ties with Turkish businesses and universities.

The government on Thursday revoked the security clearance for Turkish ground-handling firm Celebi Airport Services at Indian airports, due to national security concerns.

The Turkish company handled around 70 per cent of the ground operations at Mumbai airport, including passenger services, load control, flight operations, cargo and postal services, warehouses and bridge operations.

Adani Airport Holdings has also scrapped its agreement with Turkish company DragonPass to provide the latter’s customers access to its airport lounges.

“Our association with DragonPass, which provided access to airport lounges, has been terminated with immediate effect. DragonPass customers will no longer have access to lounges at Adani-managed airports. This change will have no impact on the airport lounge and travel experience for other customers,” the Adani Airport Holdings spokesperson said on Thursday.

Hundreds of Indian tourists have cancelled their trips to Turkey and Azerbaijan as part of the nationalistic backlash against these countries for supporting Pakistan in the conflict with India. Leading online travel booking platforms MakeMyTrip and EaseMyTrip have reported mass cancellations and a sharp drop in Indian tourists wanting to travel to Turkey and Azerbaijan.

Similarly, many Indian universities, including Jawaharlal Nehru University, Jamia Millia Islamia, and Maulana Azad National Urdu University, have suspended academic ties with Turkish institutions.

Continue Reading

Business

DPIIT, GEAPP partner to boost opportunities for clean energy startups in India: Official

Published

on

Mumbai, May 17: The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with the Global Energy Alliance for People and Planet (GEAPP) to enhance opportunities for clean energy startups in India, Ministry of Commerce and Industry announced on Saturday.

Sanjiv, Joint Secretary, DPIIT said the collaboration will help startups scale technologies that support India’s long-term net-zero goals.

“India’s climate leadership depended on a strong entrepreneurial base. The partnership would open significant opportunities for clean energy startups to scale technologies that support the country’s long-term net-zero objectives,” he stated.

Under the two-year partnership, both organisations aim to boost innovation, sustainability, and entrepreneurship in the clean energy and manufacturing sectors.

The initiative will support early-stage climate-tech startups by helping them access funding, mentorship, pilot projects, and market connections. There is also a provision to extend the partnership beyond the initial term.

As part of the MoU, GEAPP will launch the Energy Transitions Innovation Challenge (ENTICE) — a platform that will offer up to $500,000 in rewards for impactful clean energy solutions.

Investment support will be provided through partners such as Spectrum Impact and Avana Capital.

DPIIT will help link the programme with the Startup India network and ensure its reach through various government schemes.

Sanjiv said India’s leadership in climate action depends on building a strong entrepreneurial base and added that this partnership is a step in that direction.

Saurabh Kumar, Vice President – India at GEAPP, called the MoU a key milestone to drive systemic change.

He said the combined strengths of GEAPP’s global experience, DPIIT’s institutional backing, and Startup India’s network would create new avenues for clean energy innovation in the country.

The agreement was signed by Dr Sumeet Jarangal and Saurabh Kumar in the presence of senior officials from both organisations.

Continue Reading

Business

125 top Indian merchants vow to boycott trade with Turkey, Azerbaijan

Published

on

New Delhi, May 16: More than 125 top trade leaders from across the country on Friday resolved to boycott all forms of trade and commercial engagement with Turkey and Azerbaijan, including travel and tourism.

The trade leaders also appealed to the Indian film Industry not to undertake shooting of any film in Turkey or Azerbaijan and if any shooting is done, the business community and the people would boycott such films. The resolution also warns corporate houses not to shoot any product promotion film in Turkey or Azerbaijan.

The decision was taken at a National Conference of Trade Leaders convened by the Confederation of All India Traders (CAIT) here, where representatives from 24 states participated. It was strongly affirmed in the conference to stand in solidarity with Prime Minister Narendra Modi and to oppose stoutly anyone against India at this crucial juncture.

The resolution comes in response to the recent stand taken by Turkey and Azerbaijan in open support of Pakistan, at a time when India is facing a sensitive and critical national security situation. The collective Indian trading community views this as a betrayal, particularly considering the humanitarian and diplomatic support extended to both these countries in the past by India.

Addressing the gathering, CAIT Secretary General and Member of Parliament Praveen Khandelwal said: “It is deeply unfortunate that Turkey and Azerbaijan, who have benefited from India’s goodwill, aid, and strategic support in times of distress, have now chosen to side with Pakistan — a country known globally for its support to terrorism. Their position not only hurts India’s sovereignty and national interest but also directly insults the sentiments of 140 crore Indians.”

The conference noted that Turkey’s repeated anti-India rhetoric at international platforms and its continued support for Pakistan’s narrative is unacceptable whereas Azerbaijan’s alignment with Turkey and public endorsements of Pakistan’s stand reflect a disturbing disregard for India’s long-standing friendship and assistance.

CAIT National President BC Bhartia said the the traders’ community expressed strong resentment and disappointment against both countries, calling their actions “ungrateful and hostile.” It was unanimously agreed that such nations do not deserve any economic cooperation or trade advantage from India.

The trade leaders acclaimed the decision of the government for revoking security clearance for Turkish company Celebi in the interest of national security which is handling services at nine major airports of India.

CAIT said it will also launch a nationwide awareness campaign to educate and mobilise traders, consumers, and travel professionals to join this boycott.

Continue Reading

Trending