March, 2005

According to data gathered by United Nations Conference on Trade and Development (UNCTAD), India is currently home to 228 offshoring projects, followed by Britain’s 187, China’s 132, America’s 123, Canada’s 98, and Singapore’s 95. Behind Singapore are Germany and Ireland with 77 each, Australia with 72, and the Netherlands with 52. In Europe, UK is the clear leader with 20 per cent of the value of the worldwide contracts awarded last year. Germany, though played a key role in boosting Europe’s ranking, with its share jumping to 12.5 per cent from less than 1 per cent four years back.

Mega-contracts from UK including HSBC, National Rail Enquiries, Aviva and Lloyds TSB insurance hit the headlines in India last year.