India has the potential to generate 30 million jobs on incremental basis in outsourcing business by 2020, Boston Consulting Group vice-president and director K James Abraham said in Kolkata on Tuesday.

"Right now less than one-third of Fortune companies were going for outsourcing and even less than one-twentyfourth of that was coming to India... So there is a huge potential for job creation from outsourcing in the country," Abraham told reporters while quoting a study conducted by the Planning Commission and the CEOs of leading companies.

However, Abraham cautioned that to achieve the target of 30 million jobs, India would have to reform its education system so that It has a pool of large number of engineers and other professionals

Reforms, he said were required to increase the number of seats not only at Indian Institutes of Technology and Indian Institutes of Management, but also at the regional engineering colleges.