Ahmedabad - Best Indian City For F&A Outsourcing
India is a country full of diversity. The country’s 28 states have an equal distribution of various core competencies. Each state has its own individual prowess- which is directly attributable to various factors like its geographical proximity, availability of natural resources, quality of manpower etc.
In this article, I would like to stress on the dexterity of the state of Gujarat as one of the best players in the domain of Finance & Accounts outsourcing. Gujarat is a state which has always been a strong contender in this segment. The state’s strengths lie not only in the quality of its educational system, but also the inbred mentality and attitude of its people. The state of Gujarat is most famously known for the birth of its most famous entrepreneur; Dhirubhai Ambani who went on to create one of India’s biggest Public Limited Companies- Reliance.
Gujaratis have since long been regarded as the strongest pivot of the country’s financial system. The people of the state have an ingrained mentality of valuing money and making the most of potential business opportunities when compared to their counterparts in the rest of the country. Their embedded focus of being perceptive and sharply insightful in all matters related to money has often seen them succeed where others have failed. It is this approach which has also seen them cut costs and save an inordinate amount of money in various areas which potentially is the difference between profitability vis-à-vis the survival of a business venture.
In addition to this congenital outlook of the people, the state has a top-grade educational system. Moreover a significant amount of students prefer to take up the Commerce stream and build further upon their ingrained capabilities. A recent statistical analysis of the Chartered Accountancy results brought up a ratio, which though skewed was not a surprise. The analysis proclaimed that the ratio of success for aspirants from the state of Gujarat was significantly higher when compared with the aspirants from various other states. This ratio, together with the inherent business acumen of the people proves that Gujaratis do excel over their counterparts in matters related to money, funding, finances and even accountancy.
Zeroing on further, I believe that the city of Ahmadabad in Gujarat is one of the strongest contenders in the field of F&A outsourcing due to a variety of reasons. But before getting on to the reasons which I believe are true, here are some facts about Ahmadabad as cited by independent authorities.
In 2010, Forbes magazine rated Ahmadabad as the fastest-growing city in India,
In December 2011 a leading market research firm IMRB declared Ahmadabad as the best mega-city to live in
In the List of cities by GDP (2008) PWC Ranks Ahmadabad 5th amongst all the cities of the world.
In addition to the above critically acclaimed awards, Ahmadabad boasts of world class infrastructure facilities. Also incorporation of various measures by the Gujarat Government aimed at giving the state of Gujarat a significant edge compared to other states have gone a long way in amplifying the resounding success the state has already seen. The Government did this by the creation of two outsourcing Parks near Ahmadabad. They first created Infocity; a veritable hub dedicated to ‘voice-based outsourcing’ and later went on to incorporate GIFT City; a Special Economic Zone which gives huge tax breaks to companies engaged in F&A outsourcing. These measures along with the aforesaid infrastructure facilities, coupled with the high quality of human resources as well as their exceptional capabilities in the F&A domain give this city a definite markup when compared to other states of the country.
All in all, Ahmadabad is buzzing with more and more opportunities being created due to incremental business being outsourced to the various KPO’s in this city daily. I would have no qualms in saying that 5 years down the line, Ahmadabad will be the one of the biggest centres of F&A outsourcing in India- if not the entire world.
(Fact Source: Wikipedia)
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