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'New US lending laws may bring business for BPOs' (The Economic Times 28th Jan 2008)The new lending laws being worked out in the US after the subprime lending crisis could bring more business to Indian BPOs. According to a latest report by Cisco senior vice-president (IT services-India & SAARC) Ajay Goel, the new regulations for loans in the US may lead to more transaction work to India. He reckons that these new laws will be fairly stringent. It may prompt US banks to increase their outsourcing work to Indian BPOs to lower costs. This will be a huge opportunity for Indian BPOs and IT companies which already have some of America’s top banks as clients. The report also suggests that the IT spends in the Indian market are rising, offering strong opportunities for various service providers. “The appreciation of rupee against dollar indicates a strong economy and can actually have a positive impact on businesses that area ready to adapt to changes,’’ says Goel. “The US subprime mortgage crisis has not visibly impacted India yet. Indian IT firms are unlikely to be hit by the US sub-prime lending crisis as their exposure to clients in the mortgage sector is limited,’’ he said. A Mumbai-based analyst agrees with this view. More
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