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Mumbai: : A recent study of conducted by Deloitte Consulting states that in the next five years around 100 financial institutions (FIs) will invest $350 billion in offshore projects, out of which 60 per cent will come to India.
Deloitte Consulting’s director of research (Europe) Christopher Gentle said that the study, which centred around 27 FIs, revealed that $220 billion will be spent in the country in the next five years on offshore projects.
He said, that India is turning to be the hottest offshore destination for global FIs.
This is mainly due to the low cost and domain expertise in the country.
Mr Gentle added, that investment by the FIs in countries like India would result in a cost saving of $140 billion. Investing offshore, he said, would also lead to the creation of employment in the country and estimated that more than a million jobs will be transferred to India in the next five years.
He explained that there was no co-relation between IT spend and share holder value. He said, that the IT spend does not necessarily imply good shareholder value, as it is the management of IT which is important to create value for the investors.
The biggest challenge for the Indian software industry is to help the global corporations achieve a greater shareholder value.
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