Resources for Health Insurance Portability and Accountability Act (HIPAA)

CIOs need to think about compliance holistically

www.cxotoday.com

Indian companies, especially in the pharma, biotech, IT and financial services domain, have drawn up aggressive overseas expansion plans and as they go abroad, compliance becomes a key issue. We believe that the market for Quality, Regulation and Compliance (QRC) business in India would see huge growth over the next couple of years.

We estimate that the QRC related spending by India's top 2000 firms to be around US $1 billion, a figure that has ballooned from about US $100 million in 2002-03.

On an aggregate basis, including spending by regulators like SEBI, the QRC spend in India is estimated to be around US $8 billion to US $10 billion, though in percentage terms, this is about 10% of what is incurred as QRC spending in the US.

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