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India lost 10% share in global BPO

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February 27, 2013

14:55  Raises concern about the future of the industry:  India has lost about 10 per cent share of the global BPO market in the last five years to destinations like China, the Philippines and Brazil, raising concerns for the USD 20-billion Indian BPO industry.
It called for information campaigns by the industry to dispel the myths and fears about outsourcing in the developed economies.
Countries like Malaysia, China and the Philippines in Asia; Egypt and Morocco in North Africa; Brazil, Mexico, Chile and Columbia in Latin America; and Poland and Ireland in Europe are emerging as attractive destinations for voice contracts, posing a significant threat to Indian firms, it said.
14:20  The sale and leaseback deal was for $70 million.
13:45  Commodity transaction tax may be imposed in FY14.

Investors need to be wary of liquid stocks

Lower inflation to create more rooms for rate cuts
13:28  Poll deadlock in Italy could bring back euro crisis in focus.
13:22  Aurobindo Pharma gets USFDA nod for hyper-tension drug. 
13:22  Union Budget 2013-14: News, views, and much more!
13:21  Jet may give in to Etihad demand of RoFr clause

Jet to give Etihad more management control

4 board seats likely for Etihad

Price negotiation also on anvil

12:44   BSE up 155 points at 19,169.84; Nifty up 41 pts at 5102.
12:33  Economic Survey 2013 for widening tax base:  Need to cut curb gold imports to cut current account deficit.

FY13 tax mop up growth is lower than Budget aim

Room to increase exports in the short run limited

Government's priority will be to fight high inflation

Uptake in energy and infrastructure growth can ease inflation and boost growth and consumption

Survey optimistic on growth and lower inflation
12:23  Foreign Exchange reserves remains steady at $295.6 billion at December 2012 end.

Concerned about Food Security bill pushing up subsidy

FDI in retail allowed by the government can pave the way for investment in new technology and marketing of agricultural produce in India

Despite the slowdown, the services sector has shown more resilience to worsening external conditions than agriculture and industry

Survey sees significant shortfall in revenue target for the current fiscal.
12:21  Revival of growth ikely to be slow:  Hike in diesel prices to put upward pressure on inflation

Survey pitches for hike in price of diesel and LPG to cut subsidy burden.

Survey for widening tax base and prioritising expenditure to check fiscal deficit.

Railway freight grows by 5.1 per cent in 2012-13.

Economic Survey calls for curbing import of gold to contain current account deficit.

Government's priority will be to fight high inflation.
12:13  Infaltion expectations seen anchored around target:  Oil subsidy key to fiscal risk, need to lower it.

Controlling subsidy expenditure is essential.

Economic slowdown a 'wakeup' call for stepping up reforms.

Medium term fiscal consolidation plan is credible.

Rate cuts in developed markets may lower domestic inflation

Growth downturn more or less over, Economy looking up.
12:08  Indian economy likely to grow between 6.1% and 6.7%.
12:08  Govt committed to fiscal consolidation.
12:06  Indian economy likely to grow:  Budget expected to widen coverage area, give tax sops for health insurance biz.
11:48  Economic Survey to be tabled in Parliament at 12.
11:47  Union Budget 2013-14: Complete coverage
11:46  Hiring will be more than offset by job cuts:  J P Morgan Chase & Co said on Tuesday that it plans to cut 17,000 jobs by the end of 2014, representing about 6.6 per cent of the company's overall workforce, as the bank sheds staff that helped it deal with bad home loans.
The bank is optimistic that it can generate record income this year and is planning to add 4,000 employees in commercial and investment banking and credit cards to help it win business, bank executives said at an investor conference.

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