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HSBC, ICRA plan BPO units in Kolkata

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CIOL Bureau
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KOLKATA: Hong Kong and Shanghai Banking Corporation (HSBC) and credit rating agency ICRA are mulling forays into the business process outsourcing (BPO) sector. Both companies have showed a keen interest in setting up BPO operations in Kolkata because of the city’s low costs and still lower attrition rates.



While negotiations between HSBC and the West Bengal government have gone some distance, the ICRA management has written to the state IT department inquiring about BPO business possibilities.



"There have been two rounds of fruitful discussions with HSBC, but a formal deal might take some time," said an IT ministry official.



HSBC, which has quite a significant presence in the sector in India, wants to set up captive BPO units to handle its transactions and customer inquiries. Both companies are inquiring about the incentives that the government has to offer to investors in the BPO sector.



Several leading firms have based their BPO operations in the city that is also notching up an impressive figure in software exports. West Bengal’s software exports stood at Rs 1,300 crore during 2002-03, rising from Rs 750 crore in 2001-2002.



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