The players who are active in the Indian market can be broadly segmented into three categories: multi-tower global BPO organizations, focused global HR services/outsourcing organizations, and focused domestic players. Domestic players understand the pulse of the market because they have seen the opportunities and challenges here and are trying to address it in a very indigenous way. Global players have money muscle and they will try to address the domestic potential both, organically and inorganically. As some of the domestic players create good business models, they will be candidates for acquisition; in my view this space will see consolidation in the next few years.