Why Global Brands Prefer Indian Talent for Offshore Development

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mdnur02
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Why Global Brands Prefer Indian Talent for Offshore Development

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Since various businesses are tightly packed into Western Europe and North American cities, the cost of doing business is always rising and the competition is fierce. Offshore Development Services have inevitably risen as a solution for Western businesses looking for custom solutions.

Today, India has been at the top of various listings for the best companies offering remote software development services. I totally believe that cost-effectiveness is the top-most reason. But other than that, industry email list there are many more factors contributing towards Indian Offshoring Services. Organizations can certainly ride the wave of digital transformation and gain technical advancements with the support of Indian experts.

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Before going on to the details of why Global Brands are preferring Indian talent for Offshore Development, let me share some of the interesting stats:

According to Capital Counselor, by 2025, the global IT outsourcing market will be worth $397.6 billion.
57% of companies outsourced work to increase productivity according to What to Become.
Also as What to Become says, over 14 million jobs are outsourced from the US.
Fortunly states that 78% of businesses all over the world feel positive about their outsourcing partners.
What are Offshore Development Services?
My simple definition of an offshore development centre is that it’s an integrated, extended and dedicated office which is located in another country. It is specifically a branch or a subsidiary of a company existing in another country. Generally, businesses prefer to pick a country where the cost of living is significantly lower in comparison to their native country.

The main reason behind Offshore Development Services is enterprises can get the same skill-set and high-quality work at a much lower rate which directly contributes to magnifying profits.

Bangalore, the Silicon Valley of Asia has become a tech hub to find and recruit the best engineers for software development. Various IT giants like Google, Apple, Microsoft, and SAP are already establishing their R&D centers in Bangalore!

Why Global Brands Prefer Indian Talent?
Today, India has managed to outwit all other countries like China, Philippines, Ireland, etc.,and loom as the top offshoring harbor. Moving towards software development services is a big decision and needs complete understanding but the benefits are immense. Let me share some of the top reasons why companies choose Indian Talent across the globe.

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Low Cost
The top reason for outsourcing (70%) is cost reduction

Most of the software companies are based in extremely expensive cities. Hence, the cost of living also increases. On average, a decent developer will cost around $60-150 per hour and the employers also need to look for employee-centric benefits like health insurance and travel. If a company chooses a recruitment agency, they need to pay an extra amount.

The cost of living in India is, on average, 64.60% lower than in the United States

The cost of living in India is very little as compared to the west. Even in tech-focused cities like Bangalore, the average developer salary is significantly lower when compared to other countries of the world. There is a huge difference in the amount while considering the cost of rent, travel, bonuses, as well as, health insurance. I definitely feel that tying up with the right offshore development agency can be much advantageous for your business. Typically the revenue will grow and expenses will fall, so there will be a direct shoot-up in your profits.

Pool of Talent
India, the world’s second most populated country, has a huge pool of young and technically sound trained professionals. India offers one of the largest talent pools in the world.

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According to C SharpCorner,

By 2023 India will become the largest hub of software developers in the world

Most of the Indian developers are well equipped with the required KSAs and can help companies achieve their business objectives. In fact, India will add approximately 110 million resources to its workforce in the next couple of decades.

India will overtake the US’s number of software developers by 2023

Since India puts significant emphasis on English education and IT services, Indian developers are far more capable of filling the talent scarcity. A company can have the benefit of a 5x talent pool and can choose from the bunch with quality offshoring.

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Source
The easy availability and abundance of dedicated resources enable India to tick better and faster when it comes to offering a large and intricate solution in time. These resources work on advanced solutions using the latest technologies. I would say, India leads the wagon of offshoring and outsourcing as it stays up to date with the latest trends and it practices technologies.
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