Genpact which manages business processes for companies around the world, celebrates its 10th anniversary this week. What began in 1997 as a 30x30 ft. mail-processing venture in Gurgaon, near Delhi, India, has become a $613 million enterprise across nine countries serving dozens of well-known corporate brands in 15 industries.
“Ten years ago, when we were still part of GE, we had an idea and a dream,” says Genpact President & CEO Pramod Bhasin.
“The Business Process Outsourcing industry was unheard of in India. Phone lines did not work, and the only office buildings available were old-fashioned and certainly not equipped for our needs.
But we knew it was a great idea, and with the backing of a great company, and our energy and commitment, we knew we would find a way.”
Research conducted by the Black Book of Outsourcing predicts the worldwide BPO market will hit $700 billion in 2008 as more companies focus on their core and embrace business process outsourcing.
Genpact, which listed on the New York Stock Exchange under the ticker symbol “G” on August 2nd of this year, has been a key player in the Business Process Outsourcing industry since the beginning.
“We owe a special acknowledgement to the leaders, visionaries and organizations that pioneered this industry in India, and the team at Genpact is certainly among them,” wrote Kiran Karnik, president of India's National Association for Software and Services Companies (NASSCOM) in a congratulatory letter.
Not only was Genpact a trailblazer of business process outsourcing in India, it pioneered the industry in China and Eastern Europe as well.
But it is in India, where Genpact has facilities in six cities, plus hiring centers in another 12, that is prospering because of the clean new industry that has turned dusty suburbs like Gurgaon into hubs of high-rise buildings and commerce.
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