BUSINESS

The business has been driven by the rapid evolution in technology: virtualization, cloud computing, standardization of IT infrastructure, and the availability of sophisticated tool sets. It has also been driven by changes in customer demands and a mature offshore supply environment. Industries including telecom and banking, financial services and insurance have become early adopters. "The RIM industry is at a watershed in its development," according to a study by McKinsey that was released in March by the National Association of Software and Services Companies (NASSCOM). And as was the case with business process outsourcing (BPO), signs exist that India may be poised to gain a large share of this fast-growing market.