Bangalore, India - November 06, 2008 - Abraham Thomas, Business Head at Market Equations, a technology enabled Management Consulting & Market Research Outsourcing company, speaks about Global Financial meltdown impacting the IT and ITES industry in India, industry bodies reducing forecasts from 30% to 24%, and a large majority of players announcing 25% job cuts in the coming weeks, the Outsourcing Industry is experiencing one of its worst times in over a decade.
Despite the prevalent concerns, the Industry seems optimistic and feels the hurt from the crisis would only be a mid-term phenomenon. Analysts feel there would be an improvement in business when the crisis peaks and outsourcers will definitely look at ways to cuts costs to remain afloat.
On another front, the Research Outsourcing Industry seems to be gaining under all the turmoil, with companies relying heavily on intellectual resources to deliver high value services at lower costs. The Pharmaceutical Outsourcing industry is seeing an outburst of investment with projections of USD 2.5 billion dollars in 4 years.
As Abraham Thomas, Business Head at Market Equations puts it, “The Market Research Outsourcing Industry in India is also seeing a lot of positive activity as companies face tremendous pressure to keep cost down. Combined with the need to track consumer behavior and their changing tastes and preferences with the US economic downturn, outsourcers are exploring opportunities that combine low costs and high value propositions. A large pool of intellectual resources combined with comparatively lower operating costs puts India based Market Research Outsourcing firms who have embedded these two key propositions at a very strong lead.”
Analysts are certain that the Wall Street collapse will definitely open up large opportunities for Research Outsourcing providers in India. This call's for reframing the common joke – “When America Sneezes, our Industry will catch a cold here in India”. India seems to be fairly well equipped to keep the flu away. Companies who realign their strategies to provide high value services will still reap the benefits of the Golden age of Outsourcing.
About Market Equations
Launched in early 2006, Market Equations is a results-oriented Market Research & Strategic Management Consulting Outsourcing Company providing Actionable Intelligence and Market Research Solutions to Organizations worldwide. From stand alone to complete integrated solutions we provide our customers a one stop solution for their Business and Consumer Market Research and Decision Support needs. Headquartered in Bangalore, India, Market Equations provides customers measurable and enduring results that have a lasting impact.
Market Equations goes beyond providing you substantial cost and time efficiencies to providing you access to a highly competent and qualified group of industry experts, focused on providing you enduring results that have a lasting impact.
Please visit Market Equations at www.marketequations.com or you can write to info@marketequations.com for more information.
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