New Delhi, May 08: India would soon become the most preferred destination for Knowledge Process Outsourcing as it grows 46 per cent to touch a staggering 17 billion dollars by 2010, a CII study said.
The paper 'India in the new knowledge economy' pointed that services sector would grow at more than eight per cent and its contribution to GDP would be above 51 per cent which affirms India's transition from being a BPO destination to a KPO destination was imminent.
Areas with significant potential for KPO include pharmaceuticals, biotechnology, ICT, legal services, intellectual property research and design and development of automotive and aerospace industries.
"India could emerge as a global KPO hub as the business requires specialised knowledge in respective verticals and the country's large number of engineering and technical insbreastutes are geared to address the manpower demand," it said.
The healthcare sector is projected to account for 7-8 per cent of GDP and provide employment to around nine million people. India's spendings on the sector is to the tune of 22.7 billion dollars, the paper said.
"India has the opportunity to provide the best of western and eastern healthcare systems," it said, adding that more than 70 per cent Americans prefer a natural approach to health and spend around 25 billion dollars on non-traditional medical therapies and products, thus making India one of the most preferred destinations because of Ayurveda and Yoga.
