Question -
Answer -
Yes, it is good for India. These points below further help in justifying that:
1. For a country like India which is developing, employment generation is a concern and outsourcing provides a solution for generating employment opportunities.
2. It enables the transfer of knowledge about the processes and technology from developed countries to the developing countries.
3. By providing outsourcing services India makes itself credible in the international market, it will help in bringing international investment to India.
4. Outsourcing opens up avenues across service sectors and helps the educated youth in getting skills which will result in human capital formation
5. Jobs will help in the building of society by reducing poverty and also pave the way for education, which will build the nation as a whole.
Developed countries oppose outsourcing as it leads to outflow of jobs from the developed countries to the developing countries, it leads to outflow of investment and revenue and helps develop the weaker country, but results in job scarcity for the developed countries.