Why Indian IT companies are looking at markets of South America

Indian IT services companies that are dependent on the US and European markets see the emergence of Latin America as an opportunity. The region is politically vibrant, economically booming, has a huge talent pool of multi-lingual, cost-effective professionals, which could be used in a near-shore business model to service their North American clients for 12 hours from the same time zone and the remaining 12 hours from India. A report released by the global market intelligence firm International Data Corporation (IDC) said that the IT services market in Latin America was worth $24 billion in 2011. Growing at 10% per year, according to IDC, Latin America will have an untapped market worth $40 billion by 2016.

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