Indian Freelancer Market
Thers used to be no Indian freelancer market in IT to any great extent.
It was all permanent jobs.
Indeed, when I suggested to an Indian software guy I knew that maybe I could open up an ITContractor.com/India he told me that it wasn‘t worth my while as there were so few contractors there.
Now, it is all so different.
Online Freelance Websites
This has mainly come about through online freelance sites like Freelancer.com and elance where customers can post a project and software companies and freelancers worldwide can bid for the work.
Indeed Freelance.com says that 38% of its users are Indians.
They say that 1.2m of the 3m users of Freelancer.com are from India.
According to Matt Barrie, CEO of Freelancer.com, “India is by far the biggest freelancing nation in the world.”
It is a similar story at oDesk where 20% to 30% of the payments go to India.
New Hidden Economy
Said Barrie, “This is the new hidden economy, beyond borders, where people work and go everyday”.
It seems that this trend is set to continue with more and more companies outsourcing work via sites like Freelancer.com.
It was difficult for UK IT Companies to compete with offshore companies.
Also, UK IT Contractors found that positions that they used to fill were being filled by Intra-Company Transfers.
Now a greater percentage of the work is being tendered for online to Indian Freelancers who will do it for as little as $5 an hour.
UK IT Contractors rates may have been falling recently but they can‘t compete with that.
The Indian freelancer market is booming.