World may love it or hate it, but India remains the undisputed leader of outsourcing. According to a recent survey by Forbes magazine, five of the seven billionaires whose primary source of wealth is outsourcing are Indians. The other two, also Asians, hail from Taiwan.
By definition, outsourcing is to purchase or subcontract from an outside source; while offshoring can be done both within and outside a company.
"The economics behind offshoring are really compelling, and customers usually do it for three reasons – they want specialized firms, want to cut costs and gain access to talent or specialised skills," the magazine quoted Robert Kennedy, a professor at the University of Michigan Business School, as saying.
While the Taiwanese billionaires — Terry Gou and Barry Lam — lead companies specialising in contract manufacturing, the five Desis in the list have made their billions through software services
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