Liberalisation, Privatisation And Globalisation : An Appraisal

BPO stands for Business Process Outsourcing Voice based business processes BPO is becoming popular day by day. Outsourcing means a company going out to a source outside the company to buy a regular service that formerly used to be provided departmentally and internally like legal advice, computer service, advertisement, security, each provided by respective departments of the company. As a form of economic activity, outsourcing has intensified. In recent times by the growth of fast modes of communications and information technology, many services have come order BPOs such as record keeping, accountancy, banking, music recording, film editing, book transcription. Clinical advice or even teaching are being outsourced by companies in developed countries to India. Many multinational companies are outsourcing their services to India at cheaper cost with reasonable degree of skill and accuracy.

The following PSUs are partly privatised:

1. Oil and Natural Gas Commission.

2. Steel Authority of India.

3. Shipping Corporation of India.

4. National Aluminium Corporation.

5. Hindustan Machine Tools Limited.

As a form of business activity, outsourcing has intensified by the growth of fast modes of communications and particularly information technology. Many of the services such as voice based business processes like record keeping, banking services etc. are being outsourced by companies in developed countries to India. Most of the multi-national corporationsare outsourcing their services to India, where they can be performed at a cheaper cost with reasonable degree of skill and accuracy. India where wages are low and skilled workers are plentiful is able to take advantage of the competitiveness of her manpower.

The developed countries are opposing it because due to outsourcing the unemployment is increasing in those cuntries where the wage rates are higher. India is gaining in it. Several lakhs young people have got employment in call centres.

India has certain advantages. Lie cheap, trained and educated labour force. English speaking people are in large number, who are ready to work at cheaper rates than in other countries. Hence, India is able to take advantage of the competitiveness of its manpower.