The outsourcing industry is set to grow in the next 18 months despite the fact that companies are preparing for hard times in a tougher economic climate, says UK-based Indian outsourcing company ITC Infotech.
The company said the trend is largely due to many companies facing increasing pressure from stakeholders to offshore their business to cut costs.
The same trend was identified last in a report by the Confederation of British Industry, based on an industry survey that found IT services companies are seeing strong growth in marked contrast with others in the services industry.
Hardeep Garewal, president of strategic accounts at ITC Infotech said that although there has been a sizeable shift in the industry, outsourcing's biggest growth is yet to come.
"The market will get significantly larger with more companies looking at alternatives to reduce costs and boost the bottom line," he said.
According to Garewal, ITC Infotech is still investing and growing in key sectors despite current market conditions.