August 2021 EXTRACT

The India Consulting

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M a r k e t Tr e n d s P r o g r a m m e
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Q P O N M L K J I H G F E D C B A A B C D E F G H I J K L M N O

The India Consulting Market in 2021 28

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W h a t ’s i n c l u d e d i n t h i s r e p o r t
O ur rep or t s of fer a wealth of market sizing , grow th , and forecast data alongside engaging , in-depth analysis of the
trends that mat ter. Using our highly flexible, multidimensional model we provide firms with robust , trusted data to
make informed decisions about strategic investment s and plan for the future.

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C B A A B C
F E D D E F
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G e ogra p hy m o del
Region in this rep or t
Regions in oth er rep or t s

A lbania C ana da G ermany Kenya N or th Ma ce donia S a u di A rabia Tanzania S e c tor m o del

A lgeria Chile G hana Ku wait N or way S erbia T hailan d
A ngola China G re e ce L eban on O man Singap ore Tunisia S e c tor s S ub -se c tor s
Cybersecurity consulting
A rgentina Colombia H ong Kong Libya Pakis tan S lovakia Turkey Risks & financial management
1 En erg y & re s o urce 1 A En erg y
Aus tralia Côte d’ Ivoire H ungar y L uxemb o urg Pap ua N ew G uin ea S lovenia UA E 2 Finan cial ser vice s 1 B Primar y re s o urce s
Aus tria Croatia In dia Malaysia Per u S o uth Afric a Ugan da 3 H ealth c are
HR, change & people strategy
1 C Utilitie s
Bahrain Cy p r us In don e sia M exico Philip pin e s S o uth Korea Ukrain e 4 Man uf a c turingOperations 2 A Banking
B elar us C ze ch Rep ublic Iran M oro cco Polan d S pain Unite d K ingdom 5 Pharma & bioteStrategy
ch 2 B C apital market s
B elgium D enmark Ira q M ozambiqu e Por tugal S ri L anka Unite d State s 6 P ublic se c tor 2 C Insuran ce
B osnia E g y pt Irelan d M yanmar Qatar S u dan Ven ezu ela 7 Retail Technology & innovation
2 D Inve s tm ent an d wealth
B razil Ethiopia Isra el N eth erlan ds Romania Swe den V ietnam 8 S er vice s managem ent
B ulgaria Finlan d Italy N ew Zealan d Russia Swit zerlan d Z ambia 9 Te chn olog y, m e dia & tele coms 2 E Private e quit y
C am ero on Fran ce Japan Nigeria R wan da Taiwan
3 A H ealth c are
4 A Aerospa ce
4 B Autom otive
4 C Cons tr u c tion
4 D Consum er ele c tronic s
4 E Consum er pa ckage d go o ds
4 F In dus trial p ro du c t s
5 A Pharma
6 A D efen ce
6 B Edu c ation
6 C N ot-for-p rof it
6 D P ublic se c tor
7 A Retail
8 A B usin e ss ser vice s
8 B L eisure
8 C L ogis tic s
8 D Real e s tate
8 E Transp or tation
9 A High -te ch
6 7 8 9 9 B M e dia
5 10
9 C Tele coms
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2 13
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Q P O N M L K J I H G F E D C B A A B C D E F G H I J K L M N O P Q
Th e reven u e - ea rnin g m o del
28 15 1 Consulting
16 2 Managed service 3
27
3 Other (contingent fees,
26 17 software licensing,
2
25 18 associate networks)
24 19
23 22 21 20

Lin e of b u sin e ss m o del

Market segm ent s
Cy b er se curit y consulting
Risk & f inan cial managem ent 1
H R , change & p e op le s trateg y
O p erations
Strateg y
Te chn olog y & inn ovation

Lin e of b u sin e ss C a pabilitie s

1 Cyb ers e curit y 1 A Cy b er s e c urit y a d vice 7 D IT training 11 G Market analysis & s trateg y 14 A P urp ose -le d s trateg y & change
2 Risk 1 B Cy b er s e c urit y in cident re sp ons e 7 E Programm e managem ent 11 H Polic y form ulation 14 B Re s o urce - ef f icien c y imp lem entation
3 Forensic 1 C Pen etration te s ting & wargaming 7 F Ven dor sele c tion 11 I Pricing 14 C Re s o urce - ef f icien c y s trateg y
4 Finan cial managem ent 11 J Strategic s o urcing /of f sh oring ser vice s 14 D S o cial impa c t & tr us t
2 A Te chn olog y & se curit y risk ser vice s 8 A A dvan ce d analy tic s
5 D e sign & U X 14 E S us tainable work force
2 B O p erational risk 8 B Data visualisation , b usin e ss 1 2 A Corp orate , o ccupier ser vice s & f a cilitie s
6 Inn ovation 14 F S us tainable sup ply chain
2 C Programm e risk intelligen ce & semantic layer managem ent
7 Te chn olog y 14 G Clean te chn olog y
2 D Re sp on ding to reg ulation 12 B Integrated real estate developer ser vices
8 Data & analy tic s 9 A Cus tom er fe e dba ck 14 H G re en IT
2 E Risk managem ent 1 2 C Real e s tate deal /transa c tion ser vice s
9 Re search 9 B Cus tom er segm entation
3 A e Dis cover y 1 2 D Real e s tate s trateg y 1 5 A B en ef it s , comp ensation & p ensions ,
10 D eals 9 C Emp loye e fe e dba ck
11 Strateg y 3 B Forensic a cco unting 9 D Environm ental & s o cial impa c t re search 13 A B en chmarking exclu ding a c tuarial & inve s tm ent a dvice
1 2 Real e s tate 4 A B u dgeting /f inan cial p lanning p ro ce ss 9 E Ma cro/micro e con omic re search 13 B B usin e ss contin uit y & re cover y 1 5 B Change managem ent
13 O p erations 4 B D ebt a dvis or y 9 F Market re search 13 C Cos t cut ting 1 5 C Diver sit y & in clusion
14 S us tainabilit y 4 C Finan ce f un c tion 13 D Cus tom er ser vice 1 5 D Emp loye e engagem ent
10 A C apital allo c ation s trateg y 1 5 E G overnan ce & b oard ef fe c tiven e ss
1 5 H R & change 4 D Finan cial a dvis or y 13 E D ev O p s
10 B Comm ercial du e diligen ce & valuation 1 5 F H R s trateg y & ef fe c tiven e ss
16 A rchite c ture 4 E Finan cial re s tr u c turing & ins olven c y 13 F Dis trib ution s trateg y
10 C Finan cial du e diligen ce 1 5 G L ea der ship
17 Au dit & assuran ce 13 G L ean & Six Sigma
5 A Corp orate identit y 10 D M & A transa c tion s trateg y 1 5 H O rganisational de sign & culture
18 B usin e ss p ro ce ss o ut s o urcing 13 H O p erational review
5 B Cus tom er jo urn ey & U X b en chmarking 10 E O p erational du e diligen ce 1 5 I O rganisational training & develop m ent
19 Civil engin e ering 13 I O ut s o urcing a dvice
5 C G rap hic & UI de sign 10 F Por t folio & inve s tm ent s trateg y 1 5 J O utp la cem ent
2 0 L egal 13 J Pos t- M & A integration
5 D U X & ser vice de sign 10 G P ublic-p rivate par tn er ship s 1 5 K Pension f un d evaluation & a dvice
21 Litigation 13 K Pro ce ss de sign , re - engin e ering
6 A I deation 10 H Te chn olog y du e diligen ce 1 5 L Per forman ce managem ent
2 2 Marketing & creative & a utomation
23 N et work engin e ering 6 B Inn ovation managem ent 11 A B usin e ss & f inan cial m o delling 13 L Pro curem ent /p urchasing 1 5 M Stakeh older managem ent
24 Pro du c t engin e ering & R& D 6 C Inn ovation s trateg y 11 B C ategor y managem ent 13 M Prop er t y & e s tate managem ent 1 5 N Talent managem ent
2 5 Re cr uitm ent 6 D Strategie s for grow th f rom inn ovation 11 C Chann el managem ent 13 N S ale s & dis trib ution p lanning 1 5 O Team ef fe c tiven e ss & collab oration
26 S of t ware engin e ering 7 A Clo u d a dvice 11 D Corp orate re cover y & turnaro un d 13 O S ale s force ef fe c tiven e ss
27 Sys tem integration 7 B ERP consulting 11 E Corp orate re s tr u c turing 13 P S up p ly chain managem ent
28 Ta x 7 C IT s trateg y, p lanning & review 11 F Corp orate s trateg y 13 Q Target op erating m o del

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The India Consulting Market in 2021

Contents

1
Market over view
E xplores the key trends that were front of mind for consulting firms in this market in 2020 .

The India consulting market in numbers 4

The India consulting market in 2020 6
Market segments 9
Sectors 9

2 3
Insights from consultants The India consulting market in 2021
The views of consulting leaders in India . O ur forecast s for grow th through the end of 2021 .

Interviews with consulting leaders 10 Forecast for 2021 28

4
About this repor t
O ur rep or t draws on three main sources:
- O ur Global Data Model covering the professional ser vices market
- O ur inter views with senior management consultant s from a range of consulting firms
- O ur in-depth desk research on the market

A detailed view of our methodolog y and more information about S ource can be found below:

Methodology 30
Definitions of sectors and market segments 32
Contributors 34
About the author 35
Programme schedule for 2021 36
About us 37
Our custom work 38

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 Content s

1
The India Consulting Market in 2021

The India consulting market in 2020

Leading up to 2020, India’s consultants were on a good run, with
double-digit grow th the norm and a bountiful array of projec ts from all
corners of the market. Unfor tunately for India’s consultants, that good
run of form came to a ver y abrupt end as the market more than met its
match in the form of COVID -19. When the pandemic hit at the tail-end
of 2020 ’s first quar ter, consultants saw demand plummet as companies
of all stripes shuttered projec ts amid widespread uncer taint y and a
desire to protec t their finances. And while things did star t to pick up
later in the year, with signs of a gradual recover y from the autumn,
overall, 2020 was ver y challenging for India’s consultants, with
revenues falling 7% .

While the year initially star ted well for India’s consultants, the arrival
of the pandemic forced companies to shif t gears rapidly from an agenda
focused on grow th to one centred squarely on sur vival. Many of the
large transformations star ted in 2019 were put on hold, or cancelled
outright, as clients cut back on spending and focused their ef for ts,
at least in the shor t term, on simply ensuring they ’d be around once
the pandemic came to an end. And with many companies in India ill-
equipped for remote work, much of the consulting work generated in
the spring revolved around putting systems, resources, and processes
in place—as quickly and cheaply as possible—to facilitate the shif t to
working from home.

Once it became clear that COVID -19 was around for the long-haul,
India’s clients—like those in many other markets—once again star ted
to change gear from sur viving to thriving , though that transition
took somewhat longer here. While some of this is down to a more
conser vative approach to company finances, a lack of familiarit y
with remote working across much of the private and public sec tors
W hen the pan demic also had an impac t, with many companies taking longer to find their
hit at the tail-en d of vir tual working rhy thm. So, while demand in much of Nor th America,
2020 ’s firs t quar ter, Europe, and elsewhere in A sia-Pacific star ted to pick up in early-

consultant s saw to-mid summer, in India, firms saw a somewhat slower return, with

deman d plummet conversations star ting over the summer but oppor tunities t ypically not
turning into projec ts until later in the autumn.
as companies
of all s trip es In terms of the ser vices that were in demand last year, consultants in
shut tered projec t s the c ybersecurit y space fared par ticularly well. Consulting revenues
amid widesprea d jumped 22% last year, buoyed by the government’s push for greater

uncer taint y an d a investment in c ybersecurit y af ter t wo high-profile attacks in 2019—

one on the Indian Space Research Organisation and the other targeting
desire to protec t
the Kudankulam Nuclear Power Plant. Investment in c ybersecurit y
their finances
advice climbed nearly 22% while demand for penetration testing &

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The India Consulting Market in 2021

wargaming was even stronger, growing more than 23% as clients across all sec tors sought
expertise to probe their operations and identity weaknesses in their existing protections.

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2
The India Consulting Market in 2021

Insights from consultants

Interviews with consulting leaders

At Source, we have always believed that the only way to truly
understand a consulting market is to have real conversations with the
consultants who are on the ground working in that market, ser ving
their clients day in and day out. Below, you’ll find condensed versions
of our most recent discussions with India’s consultants, as they
reflec t on 2020, tell us how the previously unimaginable events of
2020 are reshaping the market, and in the case of a few brave souls,
venture a guess as to what comes nex t.

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The India Consulting Market in 2021

Shanker Gopalkrishnan, President, Madras Consultanc y

Group
How did the market per form over the past year, impac ted the prices that consultancies can charge. Fees
and what were the drivers? have gone south , and we are now in a p osition where
fees are subjec t to negotiation on ever y assignment .
2020 was an ex tremely dif ficult year for consulting in
India , with demand and investment taking a substantial
hit across sec tors. The government sec tor is a ver y
large consulting market in India , catered to by the What impac t has this year's surge of cases
large global consultancies and a few Indian IT majors. in India had on consulting demand and the
However, with most state government s being sent into prospec t s of recover y in 2021?
lockdown , no new projec t s got of f the ground. O ther
projec t s in infrastruc ture development , institution Co nsultin g reven u e s p robably fell by aro un d 1 5 to 2 0
building , and development were also put on hold or p ercent over th e pas t year, an d th e s e co n d wave has
were cancelled outright , and this had a huge impac t on ma de a co mp lete re cover y in 2 021 ver y unlikely. T h e
the consulting firms in the past year. e co n o my is s till re elin g un der it s impa c t an d it will b e
a dif f ic ult climb ba ck . I d o n' t think that th e e co n omy
In the private sec tor, we saw investment s come down will f ully re cover until 2 02 2 , assumin g th ere is n o
sharply or put on hold. Most of us initially believed third wave .
that COVID -19 would only last for three or four weeks
and largely be gone by the summer. When that didn' t
quite happ en and the pandemic spread, fac tories had to
remain closed and cashflows were severely impac ted. Did growing protec tionism and the Indian
Consequently, the management had a clear mandate to government's retaliator y tarif fs on US goods
look at ways to keep up with wages and infrastruc ture impac t consulting demand?
cost s, pay their taxes, and cut out all other exp enditure.
The big gest challenge facing the Indian government
This impac ted all consultancies regardless of their size.
is the revival of domestic demand, and that had been
It meant that consultant s were unable to travel to client
one of fac tors in the G DP grow th slowing , even before
sites and we were unable to conduc t market research ,
the pandemic hit in early 2020 . In some instances, the
as all of fices and fac tories were closed. This resulted
government has taken measures, in selec t produc t s, to
in consulting firms op erating at around 25% of their
stop countries from dumping goods in India . There were
normal capacit y. S ome of this work returned in the third
no major restric tions on imp or t s and there has been no
and four th quar ters of 2020, but demand is still yet to
dramatic change in the struc ture of duties and taxes to
return to previous levels.
prevent businesses from imp or ting . The fallout from
India's economy contrac ted by 7. 5% overall, but that trade tensions bet ween major p owers may cause a tilt
doesn' t tell you the whole stor y. A griculture expanded, towards India , that could lead to the development of a
for example, but other sec tors fell much more due to solid exp or t market .
changes in consumption behaviour. Beer consumption ,
for example, fell by around 3 0 p ercent in F Y 21 ,
residential construc tion fell by about 18 p ercent and so
on . All of this fed into a downturn in consulting demand What impac t, if any, have regulator y changes,
over the past year. This was esp ecially dif ficult for and protest s in response to regulator y changes—
small- and medium-sized consultancies as they ser ve such those seen in the farming industr y—had on
companies in all sec tors of the economy. consulting demand?
Demand returned in some areas in the lat ter par t of Regulator y changes did not have much of an impac t on
2020 . Firms working in areas such as automation , demand as the agricultural sec tor is not a big buyer
manufac turing processes, and op erational of consulting ser vices. There has been some impac t
improvement s saw things pick up in line with client s' on food processing , and they are big ger buyers of
urgent need to reduce cost s with shrinking top -lines consulting , but the agricultural reforms are more of a
and increase in raw material prices. Consultant s are p olitical issue that is still being played out . However,
also being tasked with looking at employees as par t p erp etual t weaks to tax rules have made compliances a
of the cost reduc tion agenda . This includes p ossible major headache for small firms.
reduc tion in employee count as well as improving
employee ef ficienc y to increase the value generated
p er employee. However, the pressure on revenues also

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 Content s

With a number of companies looking to shif t

operations from China to India, are you seeing
this impac t consulting demand in India?
We are hearing stories in the news about companies
relocating to India , but that has not yet translated
to much on the ground. Companies that are shif ting
away from China have a number of options out side of
India , such as S outheast A sian countries, which do not
have the complex taxation struc tures or regulator y
measures that India has. China is still a major producer
of commodities such as steel and aluminium , and so it
is not easy for companies to leave China in droves. That
said, ongoing talks bet ween China and the US could
have an impac t on that , but it is still early days. For
India to leverage that fall-out , it would need a dynamic
economic programme backed up with corresp onding
investment s in infrastruc ture and modern high-tech
manufac turing facilities. The G overnment needs to
focus on the fac t that we need to make produc t s and
equipment in India at a globally comp etitive cost and
to international standards. In my reading , we need to
loosen up the regulator y environment and prepare the
infrastruc ture ground much more, to become a globally
at trac tive destination for manufac turing investment s.

Have you seen any changes in the competitive

market for consulting over the last year?
I wouldn' t say that I have seen much change, as far as
Indian consultancies are concerned, the consulting
market does remain fragmented and lacks the unitar y
associations that exist in the UK or Canada . This
prevent s the Indian consulting firms from finding a
common plat form that would allow consultancies to
develop in the way same as TC S , Wipro, and Infosys
have in the IT market . They were all technolog y
companies that were able to branch into consulting , but
we still do not have a mature ecosystem of pure-play
Indian consulting firms.

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4
The India Consulting Market in 2021

About this report

Methodology
Sources
MegaModel: our Global Data Model not seek or be able to compete in this par t of the
market.
The quantitative market data in this repor t comes
from our unique model of the global professional All of the data in the model is calibrated through
ser vices market. ex tensive inter views with, and sur veys of,
professional ser vices firms and their clients,
Rather than making high-level assumptions, this
allowing us to discuss broader trends in the
model has been built from the bottom up, sizing
market alongside detailed dimensions such as
the market capabilit y by capabilit y—assessing
headcount. These inter views and sur veys are
how much work a firm earns delivering each
supplemented with desk research, which allows
professional capabilit y within each sec tor and
us to assess the impac t of wider macroeconomic
countr y. This results in a robust view of the size
trends on professional ser vices. This, combined
of the supply-side market, which can then be
with our detailed modelling , results in a long-term
broken down to view the size of the market by
view of the market that is able to suppor t both
countr y, sec tor, line of business, capabilities, and
historic and forecast data.
market segments.
All figures given in this repor t are in euros. For
This year’s model has been expanded, with a new
reference, Source is using the following exchange
capabilit y taxonomy and a much broader range
rates in its repor ts this year:
of professional ser vices firms included—all of
which reflec ts convergence and other changes US dollar to British p ound US$1 = £0 .78
we see in the industr y. For the purposes of this
US dollar to euro US$1 = € 0 . 87
repor t we’ve focused on t ypes of firm and market
segments that broadly equate to traditional
definitions of consulting. A s a result of these
changes to our methodolog y, there are changes
to our market sizing data, which take into account
that conventional consulting firms now compete
in many non-consulting markets—in essence that
their addressable market is larger. Historic data
has been restated to match our new definitions,
but the inclusion of new t ypes of firm and
additional ser vices may also have an impac t on
grow th rates.

Alongside this market segmentation, we also

limit our market sizing and analysis to what we at
Source call “big consulting”—work done by mid-
and large-sized firms (those with more than 50
people). Please note that we don’t track the long ,
thin tail of work done by contrac tors and ver y
small firms, as most readers of this repor t would

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 Content s

Inter views with senior consultant s

In addition to our quantitative research, we

inter viewed nine ver y senior consultants in India,
representing most of the leading consulting
firms in the geography and many smaller local
specialists to understand more about how the
consulting market is per forming and the major
trends, changes, and challenges consultants
and their clients face. Throughout the year,
Source analysts remain plug ged in to the global
consulting market through our bespoke research
and consulting projec ts, adding fur ther depth to
our understanding of the consulting industr y.

In-depth desk research

We also conduc ted a thorough PES T analysis in

India that drills down into finer macroeconomic
details on a holistic and sec tor-by-sec tor basis
and allows us to fit our research into a wider
macroeconomic pic ture.

Definitions of sec tors and market segment s

Our definition of management consulting

includes a broad range of business advisor y
ser vices, but excludes:

- tax advisor y
- audit
- the implementation of IT systems
- the deliver y of outsourced/of fshored ser vices
- HR compensation/benefits administration and
technolog y

Where mergers and acquisitions work is

concerned, consulting on deals is included (under
strateg y), but corporate finance fees on deals
themselves are generally not included, although it
is not always straight for ward to separate the t wo.

For more information about how we classif y

consulting ser vices and sec tors, please see
“Definitions of sec tors and market segments”.

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The India Consulting Market in 2021

Definitions of sec tors and market segment s

Sectors
Energ y & resources Pharma & biotech
Energ y Includes research into and the produc tion of
Includes the exploration and produc tion drugs, biological produc t s, medicinal chemicals,
of energ y, including oil, gas, coal, and and life sciences.
renewables.
Utilities Healthcare
Includes the deliver y of elec tricit y, gas, Includes private and publicly-funded healthcare,
water, sanitation , and other related hospitals, laboratories, and medical equipment .
ser vices.
Primar y resources Public sec tor
Includes agriculture, chemicals and Government
chemical produc t s, commodities, forestr y, Includes federal/national, state/regional, local
fishing , metals, mining , and plastic s. government , emergenc y ser vices, justice, social
ser vices, public transp or t , and conser vation .
Financial ser vices Education
Includes public and private schools, universities,
Banking
and libraries.
Includes retail banking , commercial
banking , and lending . Defence
Includes national securit y and consulting around
Insurance
defence issues.
Includes general insurance (e.g . , motor,
home, p et s, health—any thing on an annual Not for profit
contrac t), life insurance, p ension produc t s, Includes non-commercial research
and retirement planning . organisations, religious, p olitical and
professional membership organisations, trust s,
Private equit y
labour unions, and business associations.
Includes both consulting work for private
equit y firms and consulting work with
private equit y p or t folio businesses. Retail
Includes the selling of clothes, food, consumer
Capital market s
goods, and automobiles.
Includes investment banking , trading of
stocks and financial produc t s, corp orate
finance, and broking . Ser vices
Investment and wealth management Logistic s
Includes private banking , high net-wor th Includes warehousing , storage, packing and
banking , investment management , trust crating , and distribution including cargo, freight ,
funds, the management of p ension funds, and haulage.
and asset management . Business ser vices
Includes ser vices relating to law, accountanc y,
IT maintenance, securit y systems, adver tising ,
Manufac turing
employment agencies, and vehicle leasing .
Aerospace
Leisure
Includes space research and technolog y,
Includes museums, ar t galleries, theatre, golf
the manufac ture of aircraf t , aircraf t par t s,
courses, hotels, hospitalit y, travel agencies,
rocket s and other space equipment , and
restaurant s, and bars.
tanks and ammunition .
Real estate
Automotive
Includes estate agencies and op erators of
Includes the manufac ture of motor vehicles,
residential and commercial buildings.
industrial vehicles, and vehicle supplies and
par t s. Transpor tation
Includes private and p eople-related
Construc tion
transp or tation , including airlines, airp or t
Includes sur veying , architec tural, and
management , train op erators, rail infrastruc ture
engineering ser vices, heav y construc tion ,
management , water transp or tation , courier
house building , and the building of
ser vices, and private bus ser vices.
infrastruc ture.
Consumer packaged goods
Includes the manufac ture of clothes,
Technolog y, media & telecoms
foods, alcohol, tobacco, furniture, home Telecoms
furnishings, cleaning produc t s, small arms, Includes telephone, mobile, digital, and other
children’s toys, and sp or t s equipment . communication ser vices.
Consumer and industrial elec tronic s High-tech
Includes elec trical comp onent s, household Includes IT-related devices, computer and computer-
and industrial appliances, commercial and related devices, audio and video equipment ,
professional equipment . broadcasting and communication equipment .
Industrial produc t s Media
Includes industrial machiner y, steel and Includes radio, television , and digital broadcasting
metal produc t s, and plastic produc t s. stations and ser vices as well as printing and
publishing of newspap ers, p eriodicals, and books.

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 Content s

Market segment s
We’ve taken the lines of business and capabilities from our taxonomy that broadly align with traditional
definitions of consulting and divided them into market segments that include the following. Please note
that for some lines of business, for example, forensic s, we’ve taken a subset of the relevant capabilities
and excluded others.

Technolog y & innovation HR , change & people strateg y

I d eation , Inn ovation managem ent , Inn ovatio n Benefit s, comp ensation & p ensions,
s trateg y, Strategie s fo r grow th f ro m excluding ac tuarial & investment advice,
inn ovatio n , Clo u d a d vice , ERP co nsultin g , Change management , Diversit y & inclusion ,
IT s trateg y, p lannin g & review, IT trainin g , Employee engagement , G overnance & board
Programm e managem ent , Ven dor s ele c tio n , ef fec tiveness, HR strateg y & ef fec tiveness,
Clean te chn olog y, G re en IT, Co rp o rate Leadership, Organisational design & culture,
identit y, G rap hic & UI de sign , U X & s er vice Organisational training & development ,
de sign , Cus to m er jo urn ey & U X b en chmarkin g , O utplacement , Pension fund evaluation &
Dat a visualisatio n , b usin e ss intelligen ce & advice, Per formance management , Stakeholder
s emantic layer. management , Talent management , Team
ef fec tiveness & collaboration , Resource-
ef ficienc y strateg y, Purp ose-led strateg y &
Strateg y
change, Resource-ef ficienc y implementation ,
Capital allocation strateg y, Commercial due
S ocial impac t & trust .
diligence & valuation , Financial due diligence,
M& A transac tion strateg y, Op erational due
diligence, Por t folio & investment strateg y, Operations
Public-private par tnerships, Technolog y due Benchmarking , Business continuit y & recover y,
diligence, Business & financial modelling , Cost cut ting , Customer ser vice, Dev Ops,
Categor y management , Channel management , Distribution strateg y, Lean & Six Sigma ,
Corp orate recover y & turnaround, Corp orate Op erational review, O ut sourcing advice,
restruc turing , Corp orate strateg y, Market Post-M& A integration , Process design , re-
analysis & strateg y, Polic y formulation , Pricing , engineering & automation , Procurement /
Strategic sourcing /of fshoring ser vices, Real purchasing , Prop er t y & estate management ,
estate strateg y, Environmental & social impac t Sales & distribution planning , Sales force
research , Macro/microeconomic research , ef fec tiveness, Supply chain management ,
Market research , Customer feedback, Target op erating model, Sustainable supply
Customer segmentation , Employee feedback , chain , Corp orate, occupier ser vices & facilities
Advanced analy tic s, Sustainable investment . management , Integrated real estate develop er
ser vices, Real estate deal/transac tion ser vices.
Cybersecurit y consulting
Cybersecurit y advice, Cybersecurit y incident Risk & financial management
resp onse, Penetration testing & wargaming , Op erational risk , Programme risk , Resp onding
Technolog y & securit y risk ser vices. to regulation , Risk management , Budgeting /
financial planning process, Debt advisor y,
Finance func tion , Financial advisor y, Financial
restruc turing & insolvenc y, eDiscover y,
Forensic accounting .

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 Content s

The India Consulting Market in 2021

Contributors

We are ex tremely grateful to all the people we spoke to for making this repor t possible. Below is a list
of individuals who have contributed (excluding those consultants who wished to remain anonymous).

Name Job title Organisation

Sanjeev A gar wal Managing Direc tor Protiviti

Arnab Basu Par tner, Advisor y Leader India P wC

Sandeep Bhatia VP, India Countr y Lead Capgemini Invent

Shanker Gopalkrishnan President Madras Consultanc y Group

Kamesh Krishnamoor thy Head – India Industr y Consulting Cognizant

Rohan Sachdev Consulting Leader E Y India

Deepak Sharma Par tner & Co-Founder Kanvic

Dr. Syama Sunkara Managing Par tner – India, Middle East and Tata Consulting Ser vices
Africa, Consulting & Ser vices Integration

Akhilesh Tuteja Head of Digital Consulting , India KPMG

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 Content s

The India Consulting Market in 2021

About the author

A shok Patel
A shok is a writer and editor at Source in our Market Trends team. He is an experienced
writer, editor, and analyst, providing insights into the latest trends and developments
across the professional ser vices market. He has been quoted by a variet y of trade
publications and has previous experience in Source’s Client Perception Programme. Prior
to joining Source, A shok was an editor and consultant in the commodities market, as well
as working in the UK automotive industr y.

A shok Patel
ashok .patel@sourceglobalresearch .com

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 Content s

The India Consulting Market in 2021

Programme schedule for 2021

Reports M a r ke t Tr e n d s Client Perception E m e r g i n g Tr e n d s

2021 Programme Studies Programme

UK
January
Forecasts for 2021 US
US
GCC Germany
Q1 February
UK Financial Services

Nordics
Healthcare & Pharma
Canada
March GCC Buying and Selling
France

Nordics
Energy & Resources
April
France Technology, Media
& Telecoms
DACH
Australia China
Q2 May Digital, Transformed?
Southern Europe Japan

June

China
July Benelux
South America
South East Asia
India Perceptions of Risk Firms Consulting’s New
Q3 August
Japan Perceptions of Tax Firms Talent Crisis
Eastern Europe & Russia
Africa
Perceptions of Audit
September Energy & Resources
Firms
Financial Services

Building a Trusted
October The Global Tax Advisory Market
Brand
The Global Risk & Cybersecurity
Services Market
Q4 November Healthcare & Pharma
Technology, Media & Telecoms
Consumer Products & Retail
December Planning for Growth in 2022

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