India has become a major outsourcing hub due to its large English-speaking workforce and low labor costs. Major companies first began outsourcing simple back office work to India in the 1990s. The business process outsourcing industry in India has grown rapidly since then, reaching $62-64 billion in 2008-2009. Key factors driving outsourcing to India include its large pool of skilled labor, low costs that are around 60% lower than the United States, and its advantageous time zone. Major sectors seeing growth in outsourcing to India include financial services, insurance, technology, and healthcare.