Mumbai: India's outsourcing industry needs to look for new partners and new markets to continue its remarkable growth, president A P J Abdul Kalam said Friday.
Speaking at a meeting of the country's top software professionals, Kalam said that while North America and Europe accounted for the biggest chunk of India's outsourcing and software markets, it needs to target other markets to drive growth.
"We must partner with other countries in Asia-Pacific - Korea, Philippines and Singapore - to encourage innovation and creativity and increase value for customers," Kalam said on the final day of a three-day conference on information technology. "We must create a market in Africa."
India is the global leader in outsourcing, and has captured about half of the business world-wide. The US makes up 70 per cent of the market for Indian outsourcing.
Top multinational companies farm out work from infrastructure support, to writing software to call centres to countries such as India, with its low wages and millions of skilled workers.
India's software and back-office outsourcing exports in the fiscal year ending March 31 will total $23.4 billion (€19.53 billion), 32 per cent over the previous year, according to the Nasscom.
The association has said the country is on track to reaching annual