BPO service provider Firstsource Solutions Ltd. has entered into an $80 million, five-year outsourcing agreement with Barclays PLC. for credit card business.

A recent study has discovered that India is emerging as a BPO hub. India not only explicates three out of five top known worldwide outsourcing destinations, but also has the maximum number of rising cities in this field.

According to a study by CyberMedia’s Global Services magazine, the top five well-established hubs for outsourcing include Bangalore, India's National Capital Territory, Manila, Mumbai and Dublin.

New York: While lecturing at the Pravasi Bharatiya Divas, a yearly event organised by the Ministry of Overseas Indian Affairs to bring the Indian Diaspora together, Kamal Nath, minister for commerce and industry said, “The Indian IT business has been pampered for a long time. There is a disconnection between the IT sector and the rest of India.”

While responding a question asked by a delegate at the meeting on how the Indian IT businesses will expand post 2009 when the tax benefits the industry presently enjoys are inhibited.