• Sanjeev Jain, Founder Director, Megasoft Solutions India Pvt. Ltd. and Anil Makhija, Director (LEGAL), Megasoft Solutions India Pvt. Ltd speak to People and Management Editor-at-Large Alankar Srivastava on outsourcing, United States President Donald Trump’s protectionist measures, demonetisation and much more. Excerpts...

Sanjeev Jain - Take us through the journey of Megasoft Solutions.

Ans.: We started way back in 1996, when Knowledge Process Outsourcing (KPO) business was at its infancy. Starting from a few clients in the initial years, currently we cater to more than 200 MNC clients (Pan India and Overseas).

The outsourcing business is today worth $150 billion, with the United States being the leading market followed by Asia Pacific including China and India.

There is a big opportunity for companies like Megasoft, which is an established player in the market for over two decades.

Sanjeev Jain - How do you see the United States President Donald Trump’s protectionist measures, particularly his views on the H-1B visa?

Ans.: Donald Trump is good for the United States, and everyone has to fit in his framework of policies who intend to work with America. Indian outsourcing is very flexible, and we have to work around the policies of Trump. We will see a shifting of base to India and hiring of more and more foreigners, mainly Americans.

As far as H-1B visa is concerned, the United States has to honour World Trade Organisation (WTO) commitments.

There is nothing wrong in what Trump says; he is well within his right to run his country the way he wants.

Sanjeev Jain - Reliance Industries Limited (RIL) Chairman Mukesh Ambani said that US visa curbs can be a ‘blessing in disguise’. Comment.

Ans.: I support Mukesh Ambani’s views. The new set of policies would push Indian Industry to achieve new standards, and new heights soon.

Sanjeev Jain - How has been the Indian government’s approach to the outsourcing business?

Ans.: It has been extremely encouraging. Having understood the advantages of outsourcing such as specialised domain knowledge, expertise and adaptability to change, several Public Sector Undertakings (PSUs) have started outsourcing; Central Warehousing Corporation (CWC) is one such example which is one of the first PSU to opt for outsourcing model duly aided by Megasoft.

Seeing the major advantage of saving on Capital Expenditure, the Government realises that PSUs and corporations must focus on their niche activities and outsource the routine activities.

Sanjeev Jain - The industry faces high attrition rate. What is the right approach to tackle it?

Ans.: Retention, no doubt, is a big challenge. Everybody has a shelf life, and I believe that change is always for the good. The important thing is to be positive, realistic and effective.

Technological advancement is the counter to attrition. Clearly defined processes, training, attrition prediction and succession planning for key positions are important.

Sanjeev Jain - What is the effect of demonetisation on the outsourcing industry?

Ans.: I personally foresee a positive impact in the long run with the black money economy going down. KPOs deal in white money, so exponential growth is expected due to demonetisation when its advantages are at full bloom.

Sanjeev Jain - What are your expectations from the Indian government; in your opinion, which are the steps that are imperative to drive the industry forward?

Ans.: Indian government is very conscious and pro-active about IT Companies’ issues and concerns. Tax breaks on Capex, Investment allowance, and Tax holiday for companies will make the industry competitive with world prices.

Sanjeev Jain - Recently, a Bill was introduced in the US Congress to more than double the minimum salary of H-1B visa+ holders, which could significantly boost costs for IT companies, whose margins are already being squeezed. Please share your thought on this.

Ans.: This will bring parity between Indian and US workers. Now, the advantage of hiring Indian workers at lower cost will no longer exist.

We have to work within the framework provided by the government. Technological advancement and cost efficiency are the two mantras.

Sanjeev Jain – Where do you see Megasoft Solutions 5 years from now?

Ans.: One of the best! We will partner with companies and corporations and help them realise their dreams by doing our best. Domain knowledge in terms of Legal, Technology, and Accounting gives us a definite edge over our competitors.



 

Sanjeev Jain, Founder Director, Megasoft Solutions India Pvt. Ltd.

People and Management

Media Kit