NASSCOM and BCG Present India's Journey in the Globalised Services Space

- NASSCOM and The Boston Consulting Group (BCG) release report on ‘India in Globalized Services: Innovating @ Scale’

- Aims to highlight the industry's evolution to an innovation and transformative partner for global enterprises

Key Highlights-

• Over the years expectations of customers have shifted beyond efficiency

• The top expectations beyond cost for customers include innovation and business impact

• India's role has evolved and in the last 5-10 years is increasingly delivering innovation and business impact

• R&D spend is growing, with MNCS R&D centers growing over 14% making India a source for path breaking innovation

• Third largest start up base estimated to grow 4X to reach 10,000 by 2020 driving 'innovation at scale'

• Co-innovation by players and corporate venturing to access innovation

The National Association of Software and Services Company (NASSCOM) and The Boston Consulting Group (BCG) today released a Report titled ‘India in Globalized Services: Innovating @ Scale’ - a comprehensive year-long study capturing perspectives from all industry stakeholders to understand the role and expectations from the Indian technology and services industry and its journey over the last 25 years. The report addresses the shift in customer expectations from efficiency to innovation and transformation, and highlights the transition of the industry over the years to become the 'partner of choice' for global enterprises.

According to the report, in the last decade India’s role has evolved from an arbitrage & talent led provider to a transformative partner, delivering significant business impact. Innovation has been at the core of this journey as this industry was born out of innovation in the form of the Global Delivery Model. With revenues approaching USD 150 billion and a market share of over 50% and a workforce of over 3.5 million employees directly serving the industry, India is today at the epicenter of the global services space, consistently enabling customers in their transformation and innovation agenda. This has been a remarkable journey and sets an eminent platform for a strong future.

Mr. R. Chandrashekhar, President, NASSCOM, said, “The impact of the Indian industry has been universal, across verticals, geographies and customer segments in delivering transformation and innovation. Customers are increasingly outsourcing business critical operations to India, and this trend will only accelerate further as the industry matures. The emerging eco-system of digital technology start ups and increasing collaboration is establishing India as a hub for innovation”. Talking about the study he further adds “Customers are expecting more collaborative partnerships in their transformation journey. The emerging consensus of value today pivots around effectiveness and business impact which includes the ability to drive innovation, fast track adoption of emerging technologies and enhanced competitive advantage”.

Mr. Neeraj Aggarwal, Senior Partner and Director, BCG, said, "We see the industry at an inflexion point today. Combined with rising customer expectations of partnership, transformation and innovation – it has been a concerted effort by the leaders of the Indian industry to further build on their robust position. We see a conscious focus on building deeper industry capabilities, co-innovating with partners and corporate venturing supported by a vibrant startup ecosystem and increased R&D focus to provide access to innovation. Over the last two decades, we have seen the journey from cost and process excellence to also being an innovation and transformation partner. This is happening across the board. Today there is a strong platform and going forward, we will see further amplification of this trend"

The NASSCOM-BCG initiative will also seek to establish a common framework for assessment of value, given differing views and language. India's continued success in delivering transformative value to become the “partner of choice” for global customers is further accentuated through best in class case studies across verticals and services, included in the study.

About NASSCOM:

NASSCOM® is the premier trade body and the chamber of commerce of the Technology and Services industries in India. NASSCOM is a global trade body with more than 1500 members, which include both Indian and multinational companies that have a presence in India. NASSCOM's member and associate member companies are broadly in the business of IT services, BPM, ER&D and Software products. NASSCOM’s membership base constitutes over 95% of the industry revenues in India and employs over 3.5 million professionals.

About The Boston Consulting Group:

The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 81 offices in 45 countries. For more information, please visit bcg.com.