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Consulting market grows by 4% in India

Aug 09
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Consulting market grows by 4% in India

India's consulting market experienced a healthy period of growth last year, expanding by four per cent to reach just over $1.5 billion (£965 million).

The figures come from a new report by Source Information Services, highlighting that the economic slowdown around the world has actually become an important driver of demand in India's consulting market, with clients seeking help to increase revenue and improve the efficiency of their business.

BJ Richards, a senior analyst at Source and author of the report, said that India is following a similar pattern to the Middle East where conservative, provincial local businesses are being transformed by a "new generation of sophisticated, highly educated young professionals" who are stepping up to the plate and steering their ships into international waters where they are competing with other firms for custom.

"Furthermore, they understand what consulting can do for them, and they're eager to engage. These new clients are not only providing critical new revenue but offering a refreshing change from the typical Indian consulting buyer."

According to the report, small and family-owned businesses are turning to consulting services more and more as their ambitious owners look to take them on to a global stage.

Digitisation is another important factor in India, with opportunities being presented to help companies make the most of mobile platforms, such as smartphones and tablets, with more Indians now accessing the internet via these devices that traditional desktop computers.

Cloud computing is also presenting a big opportunity in India alongside infrastructure services. These technologies and their security capabilities were viewed with some suspicion in the past but have now won companies around.

However, one area for concern, which the report threw up, was that consulting firms in India are struggling with the high cost of talent as the country's young professionals continue to put a high price on their labour and expertise.

Search Mindbench.com for the latest management consultancy jobs and consulting recruitment opportunities or contact us on +44(0)207 089 9017.

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