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Job Creation due to BPO

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Sunanda K. Chavan
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Job Creation due to BPO - October 19th, 2010

If somebody says that shifting of BPO jobs from one country to another creates jobs in the former country, it might sound contradictory. However that is exactly the fact of the matter.

According to the NASSCOM report, the BFSI (banking, financial services, and insurance) sector have saved $6 billion in the last few years and due to these savings have added 125,000 new jobs in this period thus preventing layoffs. Nearly 170 Indian IT companies have offices in the US and they employed nearly 60,000 people in the US in 2001.

These people paid nearly $810 million in taxes in 2001. Employees of Indian IT firms bought goods and services worth $1.2 billion in the US and paid nearly $300 million as social security in 2001.
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