Thematic Report
India Global Services Industry: A Look Back at the Last Decade and Our Future Outlook
A decade ago, Everest Group made some predictions about the India global services industry. In this Executive Briefing, we look back at our forecasts to see what we got right, what we got wrong, and where the market is today:
- We reassessed the long-term economics that have created 5.5 million global services jobs in low-cost locations over the past 15 years.
- We also took a look at major trends impacting the industry at present, namely:
- Reduction in workflow growth to offshore locations (such as India) because the large, concentrated groups of roles most likely to move offshore have already done so
- Ongoing downward pressure on wage growth, especially among entry-level positions, in the longer term
- Downward pressure on labor demand given adoption of Robotic Process Automation (RPA) and other process efficiencies
- With these mega-trends firmly in place, Everest Group moves out its estimate for the end of India labor arbitrage – to beyond the 2040-50 time horizon
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