Correct option is B
The correct answer is: (b) Contracting out services to other countries
Explanation:
Outsourcing refers to the business practice of hiring an external organization, often located in another country, to perform services or produce goods that were previously done in-house by the company.
Outsourcing refers to the business practice of hiring an external organization, often located in another country, to perform services or produce goods that were previously done in-house by the company.
In the Indian context, outsourcing is largely associated with the IT and BPO (Business Process Outsourcing) sectors, where countries like the USA and UK contract Indian firms for tasks like customer service, technical support, data entry, and software development.
Information Booster:
- Helps companies reduce labor costs and improve efficiency.
India is a global leader in outsourcing services, especially in software and support.
Globalisation has significantly boosted the outsourcing industry.
NASSCOM promotes India’s role in the global outsourcing market.
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