“These factors are working together and have gone a long way to offset the pre-Covid trend to onshore. In the COVID-19 era, markets are seeing a clear 50% reduction in onshore and 5-15% rise in offshore share, said Phil Fersht, founder and CEO, HfS Research. The rise in offshore share is smaller in existing projects while new ones come with a higher ratio. “For all IT work conducted remotely, it makes perfect sense to run it from India and the Indian model will dominate the IT service scene for at least another decade,” he added. Offshore providers have ended up being ‘pandemic winners’, seeing quantum growth in revenues and substantial decline in operational cost after the WFH trend kicked in, said Siddharth Pai, founder, Siana Capital.

Source: The Hindu May 07, 2021 17:16 UTC