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Knowledge push to growth

New Delhi, May 8 (PTI): India would soon become the most preferred destination for knowledge process outsourcing as it grows 46 per cent to touch a staggering $17 billion by 2010, a CII study said.

The study, ‘India in the new knowledge economy’, pointed out that services sector would grow at more than 8 per cent and its contribution to the GDP would be above 51 per cent.

This reflects that the country is on its course to transform from being a BPO destination to a KPO one.

Areas with significant potential for knowledge process outsourcing (KPO) include pharmaceuticals, biotechnology, ICT, legal services, intellectual property research, design and development of automotive and aerospace industries.

'India could emerge as a global KPO hub as the business requires specialised knowledge in respective verticals and the country’s large number of engineering and technical institutes are geared to address the manpower demand,' CII said.

The healthcare sector is projected to account for 7-8 per cent of the GDP and provide employment to around 9 million people. India’s investment on the sector is to the tune of $22.7 billion, the paper said.

'India has the opportunity to provide the best of western and eastern healthcare systems,' the CII study said.

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