The global slump has deeply impacted the business process outsourcing of maintenance projects and application development, slowing it down considerably. But it seems that this has not negatively influence clients like Bank of America, Citibank or JP Morgan to outsource more back office jobs to Indian BPO firms. Recession, or not, Indian BPO firms always offer a cheaper way to perform tasks and the need for cost-cutting is more than never before. Nasscom reports suggest that the growth of India’s back office outsourcing will grow by nearly 20% to reach $15 billion revenue. On the other hand, outsourcing of IT services will be a little sluggish.

The overall BPO industry will witness a growth in double digits because the economic slump is forcing companies from other fields such as healthcare and entertainment to seriously consider the outsourcing of back office tasks. As the BPO normally has long-term contracts it is in a better position to see off the recession.