Have you ever wondered why global giants like Google and Microsoft are led by Indian personalities like Sundar Pichai and Satya Nadela? And, why India is one of the oldest and most established outsourcing destinations in the world? We will unravel the mystery right here.
No doubt, favorable government policies and superior work ethic make India one of the preferred destinations for outsourcing. But, this is not all when it comes to choosing India for establishing an outsourcing team. The crucial reason why India is becoming the top choice for outsourcing software development is the availability of resources in abundance.
Apart from lower cost and easy accessibility, the sheer volume of Engineers that India produces every year accounts for more than 1.5 Million. According to the World Economic Forum, India produces 3X the numbers of Engineers produced in Europe and the USA combined. 1.5Million Engineers produced every year gives rise to an unmatched talent pool which can serve N number of Software development projects every year.
Why India is becoming one of the preferred outsourcing destinations in the world?
India’s market share in the global services outsourcing industry is 56% which is highest in the world. The present revenue of the Indian IT industry is above $150 billion and it aims to touch gigantic $350 Billion in revenue by 2025. Also, India still leads in terms of software developer base and has the fastest-growing concentration of software developers in the world.
The above stats make it obvious as to why India is the preferred choice for outsourcing your projects.
With demand comes supply, when it comes to software development companies in India that enable you to hire dedicated developers, there are a plethora of options. Hence, is tedious to decide on which are the best offshore software development outsourcing companies that you can put your money on. Here is all you need to know about setting the offshore development center.
Now let us understand this in detail with 4 simple points as to why India is a successful outsourcing destination and what makes it stand out globally.
1. Whopping 1.5 Million Engineers:
It would not be wrong to say that IT engineers and India go hand in hand. Around 0.5 million software graduates are employed by India-based IT companies every year which results in 98% young and skilled developers in the age bracket of 18-35.With such an enormous size of talent pool catering the software development requirements become easy.
Hiring resources from India not only fulfill your software development issues but also removes the project management burden from your shoulder. Top outsourcing companies in India have project managers who hold hands-on experience in dealing with end to end design development and offering the clients with QA testing.
When you sign up with India for your software development projects you are in for a complete 360-degree experience.
Software development cost is cheapest in India as compared to other global countries. This is a well-established fact for many years but the cheap price does not mean any compromise on quality. What’s interesting here is that in recent years the cost to quality ratio stands in equilibrium.
So exactly how much does it cost?
Hourly Rate quoted by a top outsourcing software development company in India start as low as 12 $ per hour
Say, a React based project requires 3 developers. Now let’s understand how this project can be managed in India in a low budget. Most companies in India will distribute the React project in a hierarchy of 1 senior developer, 1 junior developer and 1 Intern. Since the wages In India are very low as compared to US/Europe it becomes easier for companies to distribute the cost. Quality is not compromised as the most complex task is taken by the senior developer and the regular task which doesn’t require much expertise is distributed to Junior Developer with the supervision of the project manager.
This cost reduction helps the companies to cut down the hiring and infrastructure cost as they don’t have to worry about all this while outsourcing
3. Strong Communication skills:
India is the second-largest English speaking country in the world second to only the United States, which gives you an idea about the language proficiency of the country. Right from kindergarten until the time a student graduate the medium of communication is strictly English in several schools and colleges of the country.
India was recently ranked second on English proficiency by the EF English Proficiency Index. Companies look for developers with fluent spoken and written English skills as the IT industry across the globe operates in one single language.
This kind of command and application over a foreign language in a country is truly remarkable and that’s why over the years people have trusted India as a one-stop solution to global outsourcing problems, especially software development.
4. Friendly time difference with Europe/Asia/United States.
India has got a competitive advantage even when it comes to the location with countries that are looking to outsource software development projects.
- India is 3 hours 30 Minutes ahead of Europe
- India is 9 hours 30 Minutes ahead of USA
- Singapore is 2 hours 30 Minutes ahead of India
- Australia is 4 hours 30 Minutes ahead of India
With this time difference, Indian companies provide round the clock support and turnaround time for catering to project development needs.
As along with cost, time plays an important role and acts as a competitive advantage for companies working round the clock and wanting sync ups and conference calls.
It is also advantageous for companies who are looking for both in-house as well as an offshore team to work together in such situation time plays a vital role.
When it comes to outsourcing IT projects, India has the upper hand with almost 70% revenue of the company coming from the export of IT services. This contributes to around 7.2 percentage of the country’s GDP.
If software development is not your competency and you want to thrive in the IT segment, then India is the best option to outsource your IT project. Hiring India will free your money, energy and time, along with ensuring world-class development solutions at the same time.
Outsourcing web applications have helped many small companies in accomplishing major objective and achieving success. In addition to this, partnering with outsourcing companies also opens up a new environment to upscale the business.
Outsourcing web development in India means less investment, exposure to the latest technology, lesser project complexity, unwavering support and top-notch services.