The joint survey by Nasscom and Avasant revealed that India remains the preferred destination for global businesses seeking to enhance their digital services offerings worldwide. Over half of the companies surveyed across various sectors chose India for third-party outsourcing, particularly in industries like travel, telecom, media, entertainment, construction, and engineering. Additionally, many companies outsourced digital services work to their capability centers in India, with a significant portion opting for nearshoring operations.
Key global companies such as Google, Wells Fargo, and Unilever have leveraged India’s talent pool for outsourcing various digital services. Google utilized Indian expertise for software development and IT infrastructure, while Wells Fargo established a technology center in Hyderabad. Unilever outsourced human resources services to India, showcasing the country’s diverse outsourcing capabilities.
The survey highlighted a significant increase in global enterprises’ spending on digital technology, including AI/ML, big data, cloud, cybersecurity, and intelligent automation. While overall technology spending saw a decline, digital investment surged, indicating a strategic shift in technology adoption and sourcing approaches among enterprises.
Participants in the survey predominantly hailed from North America, India, and Europe, with a considerable number falling within the $5 billion revenue bracket. Most surveyed companies were from financial services and healthcare sectors, followed by high-tech, manufacturing, construction, engineering, retail, and other industries.
Looking ahead to 2024, the survey predicted continued emphasis on digital transformation, with generative AI/ML remaining a top tech area. Cybersecurity is expected to gain more significance, particularly as enterprises prioritize safeguarding their digital assets amidst increasing digital adoption. The role of the chief customer experience officer is evolving, focusing on integrating digital strategies into core business operations to enhance overall strategy and customer service. Moreover, enterprises are likely to enter into long-term digital service contracts and prioritize cybersecurity as Gen AI adoption grows.
