Final answer:
India is a prominent outsourcing hub due to its educated, English-speaking workforce and low labor costs, allowing companies to stay competitive by leveraging BPO. The resulting demand for skilled labor bolsters India's service industry and significantly impacts the global economy.
Step-by-step explanation:
Countries such as India have become prominent destinations for outsourcing due to various factors. A large number of educated young professionals, proficiency in English, and low labor costs make India an attractive location for Business Process Outsourcing (BPO). These professionals provide services focusing on computer-related products,as well as service-related industries and online sales companies, greatly contributing to the global outsourcing market.
India's skilled labor base is a significant factor in attracting BPO. The nation's growing middle class, fueled by educational opportunities and technological advancements, has resulted in a ready pool of educated workers. These skilled workers are eager for BPO job opportunities, which has led to the creation of a robust service center industry within the country.
While possibly contributing to job displacement in developed nations, the outsourcing trend has allowed companies to remain globally competitive by reducing operational costs. India, with a significant workforce employed in the outsourcing sector, exemplifies how a country can harness its human capital to secure a substantial role in the global economy.