Outsourcing is a process in which a company hires regular service from external sources, usually from other countries, which was previously provided internally. It includes legal advice, computer service, advertisement, security, etc.
As a form of economic activity, outsourcing has intensified in recent years due to fast mode of communication network. Many services like voice based business processes, record keeping, accountancy, banking services, music recording, film editing, book transcription, clinical advice or even teaching are being outsourced by companies in developed countries to India.
The modem telecommunication links like internet, the text, voice and visual data in respect of these senders is digitized and transmitted throughout the world. Most of the multinational corporations and small companies are outsourcing their services to India where they can be availed at a cheaper cost. The low wage rates and availability of skilled labour in India have made it a favorite destination for global outsourcing.
