A lot has been written about the economic downturn and its harsh consequences on various Industries. Though the Indian Call Center Industry has not been able to shy itself from recession, it continues to show signs of potential growth. Let us look at some statistics.

The Domestic BPO market is expected to grow by 40% in the year 2009 over 2008, to INR 88.7 billion. Legal Process Outsourcing (LPO), though in its nascent stage, currently estimated to be USD 80 million, would hit the USD 4 billion mark by 2015, according to Forrester Research.

India is a reputed name in the Global Sourcing Services domain with a market share of over 50%. However, on the flip side, it is not recognized as an Innovation Hub.

Industry experts feel that Innovation will drive the growth of the Indian BPO Industry in future. Till now, most companies have been quite myopic as far as tapping new segments is concerned. Businesses in the domain should explore beyond the clichéd BFSI segment, and try to catch some fish from the hitherto virgin waters of defense, healthcare, retail and manufacturing.

The Indian BPO Industry has been limited to providing services to their clients in the US, Australia and Europe. However, South America and EMEA are some of the possible areas that should be explored. The global economic downturn has a positive side too- Indian companies can look forward to Mergers & Acquisitions.

This might bring a smile on our faces- Asia might overtake Europe by 2020 in the global economic front.