Partho Sarkar, CEO of BPO firm Hinduja Global Solutions (HGS), is among those who are happy about the rupee's fall against the dollar. The BPO business in India has taken a bit of a knock, thanks to the growing competitiveness of the Philippines and the withdrawal of the 10-year tax holiday that the Indian government previously extended to the IT/BPO sector.
"The weakening rupee will make us more export-competitive. India has lost a lot to the Philippines," says Sarkar. About 32% of HGS's revenues are dollar-denominated. The Philippine peso too has depreciated against the dollar since May, but far less than the rupee.
Philippines has over the past decade emerged as a strong contender to India, particularly in the voice BPO space. India's BPO revenues now are at about $16 billion annually, while that of the Philippines is about $13 billion.
"The weakening rupee will make us more export-competitive. India has lost a lot to the Philippines," says Sarkar. About 32% of HGS's revenues are dollar-denominated. The Philippine peso too has depreciated against the dollar since May, but far less than the rupee.
Philippines has over the past decade emerged as a strong contender to India, particularly in the voice BPO space. India's BPO revenues now are at about $16 billion annually, while that of the Philippines is about $13 billion.
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