Consulting Industry Case Study

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Consulting Industry In India: Prospects & Challenges Due to constantly increasing demand, the industry is estimated to grow at a compounded annual growth rate of 30 per cent to become a Rs 27,000 crores industry by 2020, as per the reports of The Associated Chambers of Commerce and Industry of India (Assocham). As of now, there are about 6000 consultancy firms in metropolitan cities including Delhi (25.7%) followed by, Mumbai (25.5%), Chennai (12.1%) and Kolkata (9.1%). Moreover, service sector contributes more than 50 percent to the nation’s GDP. Besides, there are around 2000 R&D institutions and laboratories supporting several domestic consultancy organizations directly or indirectly at a reasonable cost. This fast growth of this sector…show more content…
Moreover, their expertise in diverse areas and familiarity with the local conditions are a few other reasons that help them to score over the global players. However, the Indian consulting sector has some shortcomings, which has been hindering the export growth, such as limited local presence in a foreign country due to lack of intensified market expertise, low quality assurance, low brand equity, lack of strategic tie-ups, insufficient international experience of Indian Consultants working overseas, and low level of R&D. Despite these limitations, the consulting sector in India is responding creatively to the changing needs of the clients and seeking innovations to meet their future needs. The adoption of best practices data warehousing, knowledge management tools and internet ensures the faster growth of this industry in near future. Despite the expansion of the consulting organizations, the size of individual firms is growing in response to another industry trend. Consulting firms that are unable to compete on size are trying to fulfil the clients’ requirements by outsourcing their project to another firm while maintaining responsibility for the overall

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