While India has gone ahead than other countries, Reade said the rising costs of outsourcing to India has forced U.S. clients to look elsewhere.

He mentioned several factors that U.S. companies look for in a particular country where it plans to outsource, namely: cost, attrition, English fluency, quality, difference in time zones, telecommunications infrastructure, political and currency stability, security and piracy (level) and 'relationships.'

'All international trade is based on personal relationships,' Reade said.