India has become the undisputed global leader in outsourcing software development, with the Indian tech industry doing laps around much of the rest of the world.
Demand only continues to grow, and the Indian IT sector is expected to reach $100 billion USD by 2025. India has proved to be able to offer lower costs and high quality software to businesses across borders and now, with the outsourcing industry gaining legs, communication barriers and time zone constraints are also being dissolved.
So, what has India done to earn its status as the world leader in the software outsourcing domain? Factors such as talent pools, the education system, value for money and work ethics all come into play.
IT Investments in India
The Indian government places a clear priority on the IT sector, rolling out incentives and setting up funds to champion the tech industry. In 2017, the government spent $110 billion USD on building the infrastructure needed to bring more opportunities to the space. Often referred to as “a tale of two halves” the development of the IT sector only really began post-Indian Independence. In fact, the sector now contributes twice as much to the country’s GDP as it did 10 years ago.
Fact:
The IT sector now contributes twice as much to the country’s GDP as it did 10 years ago.
The country-wide initiative to transform tech into a pillar of modern India has helped to bring in more money. Major countries across the globe have chosen to invest in India’s IT competencies, with the software and hardware space bringing in foreign direct investment (FDI) of $71.05 billion USD.
The World’s Largest Talent Pool
Unlike most other countries around the world, there is no shortage of tech talent in India, which has the widest talent pool of software developers. A huge proportion of well-educated, highly-experienced technology professionals is exactly the reason why India has become the world’s major outsourcing hub.
Around 200,000 software graduates join the Indian IT industry every single year. With such a diverse range of skills, offshore businesses can access an entire tech team capable of overcoming any software-based challenge.
Technology-Driven Professionals
Business owners, CTOs and CEOs in the rest of the world are aware of the difficulties in finding talent that can keep up with fast-advancing technology. It can mean job listings remain unfilled, or poor hiring choices are made under time pressures.
Indian professionals are tuned into technological changes, and are usually the first to pick up new tech as it lands. The country has moved at lightning pace and seems to be in the midst of a technical transformation; it went from minimal connectivity in 2014 to being the second most connected nation in the world just 5 years later. The spread of technology triggers innovation and a tech-savvy workforce.
Cost-Quality Balance
There’s a reason India has overtaken countries like Ukraine, Bulgaria and Czech Republic, who also have a good reputation for outsourcing software development. It’s because Indian tech teams are able to meet more than just cost demands of overseas businesses.
In addition to flexible pricing, Indian development firms consistently deliver industry-leading tech solutions. On top of that, it’s relatively easy for countries to sync up with India Standard Time and, because India is the world’s second largest English-speaking country, there are no concerns about miscommunication.
You can also count on professional attitudes and an exceptional service when outsourcing to a team in India. A strong, respectful work ethic is something that’s ingrained throughout the workforce.
India’s Tech Education Sector
With new technologies and government backing driving innovation in India, universities are re-shaping their education systems to equip young professionals with the means to compete in the industry.
Even post-higher education, Indian workers are turning to online learning to upskill in preparation for future trends and curveballs. For example, a 2019 report from IBM found that 120 million workers across the world would need to be re-trained to keep up with changes in AI and automation over the following three years. The Indian workforce is heading to online education and access to higher education has broadened, for a nation of professionals that is constantly advancing.
Estimation:
A 2019 report from IBM found that 120 million workers across the world would need to be re-trained to keep up with changes in AI and automation over the following three years.
The Double Yolk Vetting Process: How We Acquire The Top 2% Of Industry Talent
At Double Yolk, we’re all about making it easy to integrate India’s best software developers onto your own team – wherever in the world you’re based. We’ve perfected a strict vetting process that means we’re able to acquire the top 2% of the industry, so even in a country where innovation and tech skills as a whole lead the globe, our customers can be sure they’re getting the very best of the bunch.
A quick insight into our hiring process shows what it takes to become a Yolker
1. 100 candidates are identified
We identify 100 potential Yolkers from an elite talent pool in India and carry out some pre-screening questions and background checks to make sure only the most qualified move forward.
2. 10 candidates pass technical tests
Logical skills testing and practical assessments observed in our office are carried out to measure technical expertise. The candidates that pass will then be given a mock assignment, where their problem-solving skills and development finesse will be put to the test.
3. 5 candidates pass the cultural fit
Our Yolkers become an integrated part of a business’ remote team, so cultural fit is important. Interviews with management and HR help to determine whether they have the right personality and work ethics for an organization.
4. 1 Yolker is hired
Once approved by our clients, one Yolker is hired to work from our dedicated office in Vadodara, Gujarat.
Build An Offshore Team With The World’s Best Tech Brains
With an outsourcing industry valued at $150 billion USD, it’s not an overstatement to say India could be well on its way to becoming the next Silicon Valley. With its combination of advancing technological capabilities, governmental backing, education systems, low prices and wide talent pool, destinations such as New Zealand and Australia are quickly seeing the benefits of outsourcing.
Double Yolk is firmly based in a hub of technology innovation, Gujarat. We’d love to talk about how you could build a remote team that advances your business forward in amazing ways. Contact us to get started.
