Many of the world’s largest companies are now doing Business Processing Outsourcing (BPO), where entire parts of their business are moved to an offshore location. Accountancy and legal work are the two most commonly outsourced areas.

In India, the BPO industry is well known. It has been partly responsible for India’s high economic growth and the benefits BPO employees receive are similar to the benefits received by employees in the IT industry. According to the NASSCOM 2007 statistics, the BPO Industry in India has provided direct employment to around 553,000 individuals.

Sri Lanka’s BPO industry has gained impetus with a number of benefits as well as new entrants during the past year. ICTA is offering scholarships for 300 students in this regard. The scholarships entail development of basic skills needed for entry into this growing industry.

Commenting on the on the Sri Lankan BPO industry, Fayaz Hudah, Programme Manager ICTA commented, "In Sri Lanka, the BPO industry is gaining momentum. Most of India’s biggest BPO companies operate in Sri Lanka and some of Sri Lanka’s largest companies have also entered the BPO arena. One thing they all have in common is that they are seeking Sri Lankans who have the right skills to work with Global MNCs and niche market operations. Sri Lanka has a highly educated workforce that can be fed into this growing industry which can be developed into a labour force capable of competing on a level playing field with markets overseas. They require certain skills upgrades and these scholarships are awarded to encourage this ultimate objective."

The grants are funded under ICTA’s ICT Capacity Building Programme (ICBP). It is a US$ 5.2 million programme meant to develop the ICT industry in Sri Lanka.