India's business process outsourcing (BPO) industry will double its revenues in less than two years despite the economic slowdown and protectionist measures of western countries, a report by analyst firm Gartner said on Monday. The top 20 India-centric BPO service providers accounted for $4 billion in revenue in 2008, representing 5 per cent of the $80-billion revenue of the top 150 BPO companies in the world.
By 2010-end, the market share of India's BPOs is expected to become 10 percent as many corporates would turn towards low-cost BPOs as part of their cost-cutting measures, Gartner said.
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