London, Apr 12: An estimated 40 lakh new jobs are likely to be created in India in the next couple of years as a number of multinationals from the west are set to shift their back-office jobs to the it-dominated country which is poised to be the world's next trillion-dollar economy after China. What began as a trickle eight years ago with a decision by GE, the American giant, to shift thousands of back-office jobs from America to India, has become a flood.

Household names are seeking to cut costs and improve services by outsourcing back-office processes, call centres and it to India where unemployment is up to three times the level of the UK, the times daily reported today.
"After China, India is set to be the world's next trillion-dollar economy," according to a new research report from Morgan Stanley.

Business process outsourcing is expected to earn export revenue of 62 billion dollars by 2010 - an impressive sum.
The pace of change is expected to accelerate rapidly this year. According to Mckinsey, the management consultant, outsourcing of business processing is expected to grow by 60 per cent to 2.4 billion dollars in India this year. Bureau Report