NEW DELHI: Outsourcing, a euphemism for switching western jobs to third world sweatshops, is not just about cost-cutting these days. Or so claims a study published by global consulting firm PricewaterhouseCoopers.

The practice, beloved by accountants and institutional investors, doesn't just trim big bucks from a company's overheads, claims the report.

It also "provides access to appropriate talent and geographic expansion"; likewise a facility to shift a company's base "from traditional to collaborative business models".

One of the biggest beneficiaries of outsourcing (along with China) is the Indian economy. Unsurprising, then that PwC's man in the subcontinent, Ambarish Dasgupta, is enthused: "Outsourcing is still very much the game, but the rules have changed," he says.

He explains that "the lightning pace of growth in outsourcing is only matched by the transformation of the market as traditional models are gradually being replaced by multisourcing and joint ventures."

The provision of advice on outsourcing is, of course, a lucrative source of income for PwC.

Data sourced from The Times of India; additional content by WARC staff