A recent study by industry publication Global Services (and investment advisory firm Tholons) showed what countries (by city) rank best in offshore call center services. 

Based on scale and quality of workforce, financial infrastructure, risk environment and quality of life, these are the top 15 ranked cities in Offshore countries:

1. Chennai, India
2. Hyderabad, India
3. Pune, India
4. Ceba, Philippines
5. Kolkata, India
6. Ho Chi Minh City, Vietnam
7. Colombo, Sri Lanka
8. Shanghai, China
9. Chandigarh, India
10. Beijing, China
11. Cairo, Egypt
12. Hanoi, Vietnam
13. Shenzhen,China
14. Buenos Aries, Brazil
15. Sao Paulo, Brazil

So, India still remains the #1 technology outsourcing destination, but concerns of a rising rupee and soaring wages may slow their competitive edge.