AKIPRESS.COM - India's IT-BPM sector accounted for 56 percent of the world market in 2015, reports ZD Net.

Cashing in on growth in an innovative and vibrant startup ecosystem and an economic revival, India continued its dominance in the global outsourcing market in 2015.

According to National Association of Software and Services Companies (Nasscom), the voice of the Indian IT industry, the sector also continues to be one of the largest employers in the country directly employing nearly 3.5 million professionals, adding over 230,000 employees during the year. The global outsourcing industry recorded a growth of about 8.5 percent during last year, Nasscom said.

Head of research at Nasscom, Achyuta Ghosh, said that while global tech spending witnessed a sluggish growth, the Indian IT-BPM (Business Process Management) industry grew in double digits and the revenues from the IT-BPM exports stood at $108 billion. India accounted for 56 percent of the global outsourcing market last year compared with 52 percent in 2012.

"India is a unique example of the 'big getting bigger' in an extremely competitive landscape. Its IT-BPM exports have doubled in last six years, driven by increasing focus of the industry in new drivers such as digital technologies, growth of an innovative startup ecosystem, and adoption of multiple business models such as partnerships, collaboration, local presence and mergers and acquisitions," Ghosh told ZDNet.

In its report entitled The IT-BPM Sector in India: Strategic review 2015, released a year ago, Nasscom said that India remained an excellent business delivery centre for the sector.

"Currency movements and increased operational efficiencies have ensured that India's position as the world's most cost-competitive sourcing destination has only become stronger in the past year. Even Tier-I cities in India like Bengaluru continue to be between eight to 10 times cheaper than source countries and significantly cheaper than other low-cost destinations," the report said.

Nasscom president R Chandrashekhar pointed out that India was jumping the technology maturity curve and was emerging as a digital economy. The recent announcements by the federal government on Digital India, Make in India, and Skilling India were creating a renewed thrust on the domestic market.