Consulting is among the fastest-growing markets for most global consulting firms in India. It contributes to the rapid growth of the sectors, including e-commerce, telecommunications, hardware system, software designs, software implementation, intranet and internet, healthcare and medical industries, banking and finance, and many other sectors. The substantial growth in the Indian consulting industry is not only regarding size but also service offerings.
As per The Associated Chambers of Commerce and Industry of India (ASSOCHAM), the Indian consulting industry may grow at a compounded annual growth rate of 30% by 2021.
Why the Growth?
There are several reasons behind the considerable growth of domestic and international recruitment consultants in India. Major factors are:
- High accessibility
- Improved investment activities
- low-cost structure
- entry of many global players
- relaxation in FDI restrictions
- Strong international skills
- Flexible thinking
- Focused approach and overall business understanding
Moreover, consulting services in the country have robust capabilities in many areas, such as IT, management, telecommunication, civil engineering, Petrochemicals, power, logistics, Oil & Gas, retail, real estate, etc.
Many countries worldwide include the United Kingdom, the United States of America, Saudi Arabia, Japan, China and Gulf nations acknowledge the competency of Indian consulting firms. According to ASSOCHAM, the demand growth of Indian consultancy industries is even better than their counterparts in the ASEAN countries including Italy, Germany, and France. Indian recruitment firms are quick to adopt the best practices of warehousing, tools, knowledge management, and internet. This leads the country to witness even the faster growth in the future.
While prominent consulting organizations are expanding their reach, many small and mid-sized individual firms in response to another industry trend are also growing at a higher pace. Many firms that are not able to compete with the size of their clients outsource their project to another firm while maintaining responsibility for the overall project.
Challenges Faced by Indian Consultants
While the consulting industry in the country is growing leaps and bounds and why should you be hired for this internship, there’re some challenges faced by newcomers and start-ups, especially those dealing in serving global firms. The most critical problems are to compete with the global players in the market, adopt new organizational design, leverage the corporate knowledge efficiently and so on.
If you’re looking out for an international recruitment consultant in India, make you are choosing the right agency. A prestigious consulting firm’s selection process is based on a systematic and structured approach which is detailed, proactive and target oriented. The consultant you want to make a deal should understand your needs and go all the way to follow-up with you.