Outsourcing is subcontracting a process, such as product design or manufacturing, to a third-party company. Benefit of outsourcing is saving Expenses and Focusing on core Business.
The Offshore outsourcing services include customer care, BPO, medical transcription, telemarketing, market research , manufacturing, designing data management services, engineering services, financial services, creative services, web analytics services, healthcare services, ghost writing, digital image editing services, and software services.
In recent years India has become an outsourcing Hub for the West,mainly because of lower costs and a good talent base available in the country.
But it's having good competition from countries such as Eastern Europe, Philippines,Morocco, Egypt, South Africa, China, Ireland, Guatemala.