Combined, digitization and the cloud make it possible for companies to untether from their physical headquarters not just peripheral functions but parts of their ever more digital core business. Many have done just that during the pandemic, thanks to remote work. This opens up an opportunity for India’s IT consultants. They could assume some of the core corporate roles from white-collar workers in other parts of the world.
Wages for new hires in India can be as little as $5,000 annually, less than a tenth of the going rate in rich countries. Even factoring in other costs, Indian projects are at least 20% cheaper than the same endeavors in the West, estimates Peter Bendor-Samuel, CEO of Everest Group.