India’s National Association of Software and Service Companies has a new leader. Rentala Chandrashekhar was chosen to lead the Association into the new year as they endeavor to triple the technology trade industry’s revenue over the next six years. The $108 billion industry aims to become a $300 billion industry by 2020 making it a lucrative industry for those seeking to open tech support merchant accounts.
Mr. Chandrashekhar is a former Telecommunications Secretary for India and has helped guide the growth of the industry from his government posts in the Ministry of Communications and Information Technology.
India’s Outsourcing Challenges
India is facing a new crop of challenges as they seek to grow the outsourcing industry. Major US-based and Europe-based companies are cutting back on the outsourcing contracts they are granting for their tech support. As pressures are elevating on these businesses to cut back on their expenses, outsourcing contracts are among the first casualties.
There is also a US Immigration Bill that if passed will restrict the number of employees a company can bring into the United States to carry out service contracts. Outsourcing companies prefer to import engineers from India to carry out service contracts in the United States as it is cheaper than hiring a Western engineer. If the US Immigration Bill passes the number of engineers brought in will be capped creating new challenges for outsourcing companies.
Mr. Chandrashekhar should prove to be a capable and competent head of India’s large technology trade body. Despite the challenges facing the tech support industry in India, it should continue to prove to be a lucrative outsourcing industry. If your business is interested in opening a tech support merchant account for India explore your options with EMB’s experienced team.
If you need a Merchant Account for your Indian Company, start by clicking below