Credit rating agency ICRA on Thursday announced its plans to set up a business process outsourcing facility in Kolkata by this month end.

The BPO facility will cater to the analytical and research-based requirements of diverse users, ICRA said in a release.

The BPO operation would be conducted through ICRA's subsidiary ICRA Online.

"The BPO industry is poised for growth and the domestic market is expected to touch Rs 59,100 crore (Rs 591 billion) by 2006. We foresee 10 per cent of our revenues arising out of the BPO segment by 2005-06," ICRA managing director P K Choudhury said.

ICRA has roped in Joydeep Bhattacharya, the head of Indian operations of research body Zacks, to head the BPO venture.