This InfoWorld article cites a recent Gartner report that predicts that India will lose market share "from its current 80 percent to about 55 percent by 2007."

Who's going to be nipping at India's heels? Countries to watch include Ghana, South Africa, Mauritius, Fiji, Malaysia, the Philippines, Australia, New Zealand, and China.

Here's what I found most fascinating about the article. Apparently Indian outsourcing firms are now outsourcing their outsourced work to other markets. Here's the quote (FYI: BPO stands for Business Process Outsourcing, the business buzzword de jour):

The growth of the BPO business in other offshore locations is also likely to be fueled by Indian companies setting up operations in other countries. The BPO initiative in Sri Lanka, for example, is led by two Indian companies setting up operations there

Globalization truly is a double-edged sword.