In the last few years, IT Industries has attracted several foreign investors. India has seen the rapid growth in tech startups and businesses. It is one of the reasons that India is now becoming a preferred destination for IT projects outsourcing. Also, there are several other reasons, such as availability of resources, labor cost, economic reforms, and others, that we will discuss later in this blog. Before that, let's understand
What outsourcing software development is?
In simpler terms, software development outsourcing is hiring an external software development agency, onshore or offshore, to effectively perform all the tasks crucial for a software development project. In software development outsourcing, you outsource your all or part responsibilities of software development activities to a vendor.
If you reside in the USA, UK, or Europe, then Outsourcing software development to countries like India can be cost-effective and will reduce your capital expenditures. Most importantly, it enables companies to focus on their core competencies.
The breadth of services provided in recent years is over 7% steadily the annual average growth rate of any IT enterprise or business. India focused on the international market more than on the local environment, for software IT projects India adapted the various approaches to remote interaction. In 2018, India’s market share in IT project outsourcing was the highest in the world, at 56 percent.