BPO Industry Current Affairs - 2020

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NASSCOM Report: India-third largest startups hub in the world

The Nasscom report on Indian Tech Start-Up Ecosystem said that India continues to the third largest start-up ecosystem after China and US. India has added more than 1300 tech start-ups in 2019 according to the report. Between January to September in 2019, there were 8900 to 9300 startups as compared to 7700-8200 a year ago.

Highlights

  • The investment in startups in the period January-September, 2019 touched 4.4 billion USD.
  • The indirect jobs that created by the startup ecosystem can jump to 39 to 44 lakh by 2025 from 14 to 16 lakh in 2019
  • The Indian startups have the potential to grow about 4 to 5 times by 2025
  • Around 18% of the startups are leveraging deep-tech, fin tech, retail tech that are the most mature sectors with strong metrics
  • In 2019, the startups created 60,000 direct jobs as compared to 40,000 in 2018
  • Seven new unicorns were added in 2019. This takes the total number of unicorns in the country to 24 which is the third highest number of unicorns in a single country in the world. Unicorn refers to tech startup that reaches 1 billion USD market value. 71% of these unicorns are B2B focused.

NASSCOM

NASSCOM is National Association of Software and Services Companies. It is a non-profit trade association of Indian IT and BPO industries.

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Government to expand BPO promotion scheme for rural youth to 1 lakh seats

Ministry of Electronics & Information Technology (MeitY) is planning to expand its India BPO Promotion Scheme to 1 lakh seats from current 48,000 seats. It will also set up 5th and India’s largest National data centre (NDC) in Bhopal, Madhya Pradesh with capacity of 5 lakh virtual servers. NDCs host government websites, services and apps, are currently operational at four locations Pune, Hyderabad, Delhi and Bhubaneswar. These initiatives will help to create new job opportunities and also ensure that people in smaller towns find employment closer home.

India BPO Promotion Scheme (IBPS)

The scheme was approved under Digital India Programme to incentivize BPO/IT- ITES operations sector in the country. It was launched in 2014. The scheme aims to incentivize establishment of BPO firms and their extension to Tier II and Tier III cities (as per census 2011) to provide employment, distributed across various states in proportion to population of state with financial support in form of Viability Gap Funding (VGF).

The Software Technology Parks of India (STPI), an autonomous society of MeitY is nodal implementing agency of the scheme. It will be implemented to incentivize setting up of BPO/ITES operations across the country (excluding certain cities and north eastern states which are covered separately under North-East BPO Promotion Scheme).

Objectives of IBPS

  • Create employment opportunities for the youth, by promoting IT/ITES industry particularly by setting up BPO/ITES operations.
  • Promotion of investment in IT/ITES sector in order to expand base of IT Industry and secure balanced regional growth.

Incentives: Under this scheme, financial support up to 50% of expenditure towards Capital Expenditure (Capex) and/or Operational Expenditure (Opex) is provided subject to upper limit of Rs. 1 Lakh/seat. Moreover, special incentives is given for employing women and persons with disability (PwDs), employment generation beyond target and wider dispersal within state. It also gives special consideration for hilly areas and rural areas and also to local entrepreneurs.

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