Consultancy management business scenario in IndiaMunish Goyal
This document provides an overview of the consultancy management business scenario in India. It discusses how consulting began as a profession focused on industrial engineering and efficiency. Major consulting firms like McKinsey, Boston Consulting Group, and Bain established operations in India starting in the 1990s to serve growing demand from clients in sectors like information technology. The market size for consulting in India has grown significantly. The document also examines latest trends in the industry, important future service types, and factors that can help firms differentiate themselves.
India's service sector has grown to over 50% of GDP, with consulting growing at 30% annually to Rs. 23,000 crore by 2013. Currently at Rs. 19,000 crore, Indian consulting firms have capabilities in areas like engineering, telecom, power and software. The largest concentration of consultancy organizations is in Delhi, Mumbai, Chennai and Kolkata. Consulting provides advice to help firms improve but differentiation is difficult due to homogeneity.
This document provides an overview of consultancy services. It discusses the types of consulting firms, who consultants are and their roles, where they work, their characteristics, the consulting process, service delivery models, commonly found consultants, qualifications needed, examples of consultancies, criteria for selecting consultancies, and the significance of consultancy services. Key consulting firms like McKinsey & Company are also examined.
The document discusses both the positive and negative effects of chemicals. Positively, chemicals like preservatives help preserve food, medicines treat illnesses, fertilizers promote plant growth, and pesticides kill pests. However, some chemicals can cause allergies or food intolerance. While preservatives preserve food, they can harm the body. Fertilizers and pesticides also hurt the environment as runoff can pollute drinking water and make people or plants sick.
This document is the October 2016 issue of Textile Value Chain magazine. It includes summaries of various textile industry events in Asia and India. The cover story discusses the need for India to increase competitiveness in the Asian textile industry. Other articles analyze fabric technologies, market reports on cotton and yarns, and interviews with industry experts. The magazine also advertises several textile industry companies and upcoming trade shows.
The Council for Leather Exports (CLE) was established in 1984 to promote exports of the Indian leather industry. CLE aims to project India's image as a reliable supplier of high quality leather goods. It works to encourage international standards compliance, attract foreign investment, disseminate market information, and offer technical/design assistance to exporters. CLE also participates in international trade shows. Its objectives are to assist exporters in expanding globally and facilitate relationships between Indian and overseas buyers/investors. CLE serves as a link between the government, industry, and works to address issues facing exporters. It has helped growth in India's share of the global leather market to its current high export levels.
The engineering sector is the largest segment of the Indian industrial sector, employing over 4 million workers. It includes heavy engineering segments like metal products, machinery, automotive components, and transport equipment. Heavy engineering forms the majority and accounts for over 80% of total engineering production. India has a well-developed industrial base capable of manufacturing heavy and light engineering goods. While heavy engineering requires more capital for high-value, technologically advanced products, light engineering requires relatively lower capital for medium to low-tech products. Major players in the industry include BHEL, HAL, L&T, and Crompton Greaves. Engineering exports from India have grown steadily over time, reaching $60.1 billion in 2010-2011.
This document provides an overview of Special Economic Zones (SEZs) in India. It notes that SEZs are designated duty-free and tax-free enclaves established in 2001 to promote international business. As of 2008, there were over 200 notified SEZs in India contributing over 66,000 crores in exports and employing over 200,000 people. The document outlines the benefits of SEZs, including tax holidays, duty-free imports/exports, single window clearances, and incentives for the IT/ITES industry. It concludes by providing contact information for Swanand International, a consultancy for SEZ development.
Consultancy management business scenario in IndiaMunish Goyal
This document provides an overview of the consultancy management business scenario in India. It discusses how consulting began as a profession focused on industrial engineering and efficiency. Major consulting firms like McKinsey, Boston Consulting Group, and Bain established operations in India starting in the 1990s to serve growing demand from clients in sectors like information technology. The market size for consulting in India has grown significantly. The document also examines latest trends in the industry, important future service types, and factors that can help firms differentiate themselves.
India's service sector has grown to over 50% of GDP, with consulting growing at 30% annually to Rs. 23,000 crore by 2013. Currently at Rs. 19,000 crore, Indian consulting firms have capabilities in areas like engineering, telecom, power and software. The largest concentration of consultancy organizations is in Delhi, Mumbai, Chennai and Kolkata. Consulting provides advice to help firms improve but differentiation is difficult due to homogeneity.
This document provides an overview of consultancy services. It discusses the types of consulting firms, who consultants are and their roles, where they work, their characteristics, the consulting process, service delivery models, commonly found consultants, qualifications needed, examples of consultancies, criteria for selecting consultancies, and the significance of consultancy services. Key consulting firms like McKinsey & Company are also examined.
The document discusses both the positive and negative effects of chemicals. Positively, chemicals like preservatives help preserve food, medicines treat illnesses, fertilizers promote plant growth, and pesticides kill pests. However, some chemicals can cause allergies or food intolerance. While preservatives preserve food, they can harm the body. Fertilizers and pesticides also hurt the environment as runoff can pollute drinking water and make people or plants sick.
This document is the October 2016 issue of Textile Value Chain magazine. It includes summaries of various textile industry events in Asia and India. The cover story discusses the need for India to increase competitiveness in the Asian textile industry. Other articles analyze fabric technologies, market reports on cotton and yarns, and interviews with industry experts. The magazine also advertises several textile industry companies and upcoming trade shows.
The Council for Leather Exports (CLE) was established in 1984 to promote exports of the Indian leather industry. CLE aims to project India's image as a reliable supplier of high quality leather goods. It works to encourage international standards compliance, attract foreign investment, disseminate market information, and offer technical/design assistance to exporters. CLE also participates in international trade shows. Its objectives are to assist exporters in expanding globally and facilitate relationships between Indian and overseas buyers/investors. CLE serves as a link between the government, industry, and works to address issues facing exporters. It has helped growth in India's share of the global leather market to its current high export levels.
The engineering sector is the largest segment of the Indian industrial sector, employing over 4 million workers. It includes heavy engineering segments like metal products, machinery, automotive components, and transport equipment. Heavy engineering forms the majority and accounts for over 80% of total engineering production. India has a well-developed industrial base capable of manufacturing heavy and light engineering goods. While heavy engineering requires more capital for high-value, technologically advanced products, light engineering requires relatively lower capital for medium to low-tech products. Major players in the industry include BHEL, HAL, L&T, and Crompton Greaves. Engineering exports from India have grown steadily over time, reaching $60.1 billion in 2010-2011.
This document provides an overview of Special Economic Zones (SEZs) in India. It notes that SEZs are designated duty-free and tax-free enclaves established in 2001 to promote international business. As of 2008, there were over 200 notified SEZs in India contributing over 66,000 crores in exports and employing over 200,000 people. The document outlines the benefits of SEZs, including tax holidays, duty-free imports/exports, single window clearances, and incentives for the IT/ITES industry. It concludes by providing contact information for Swanand International, a consultancy for SEZ development.
It's All Coming Together: Getting Your Business Ready for HCS 2012 Compliance
Cover story:
GHS
Understanding the Globally Harmonized System for Classification and Labeling of Chemicals
New Classifications
Who is responsible for classifying chemicals?
Secondary Containers
Hazard communication goes beyond the original packaging
Q&A
We answer questions on GHS topics
Solutions
Products and resources to help you maintain compliance with GHS
This document provides information on the October-December 2013 issue of the Textile Value Chain magazine. It includes the table of contents which lists articles on various topics related to the textile industry, including reinventing the textile industry, natural dyes, branding, technical textiles, exhibitions, policies, and more. It also includes advertisements from textile industry companies. The document aims to inform readers about the latest issues and developments in the textile sector through this publication.
1. Export Potential Index
1.1. Export Performance Index
1.1.1. Revealed Comparative Advantage Indicator
1.1.2. Growth of Revealed Comparative Advantage Indicator
1.2. The World Demand Index
1.2.1. Share of World Exports Indicator
1.2.2. Growth of Share of World Exports Indicator
2. Market Attractiveness Index
2.1. Market Demand Index
2.1.1. Market Size (import value)
2.1.2. Trade Balance
2.1.3. Market Growth (import growth)
2.1.4. Change in Trade Balance
2.1.5. Market Prospects (GDP growth forecast)
2.2. Market Access Index
2.2.1. Distance Advantage
2.2.2. Total Exports from the Country to the Market
2.2.3. Relative Preferential Tariff Margin
DOI: 10.13140/RG.2.2.12503.47527
The document summarizes key aspects of the Direct Tax Code (DTC) 2010 introduced in India. Some key points:
1. The DTC 2010 aims to replace the existing Income Tax Act 1961 and simplify direct tax laws using simple language. It consolidates various direct tax laws into a single code.
2. Major changes include a single slab for all individuals (0-30% tax), corporate tax rate reduced to 30%, wealth tax rate cut to 0.25%, capital gains tax treated separately.
3. The DTC proposes the EET model for taxing investments and aims to promote long-term investments. Key dates for tax filing also changed to 30th June and 31st August.
MPEDA was established in 1972 by the Government of India to promote and develop the export of marine products from India. It functions under the Department of Commerce and acts as a coordinating agency between central and state governments involved in fisheries. MPEDA's roles include registering fisheries infrastructure, collecting and sharing trade information, promoting Indian seafood overseas, developing fisheries and aquaculture, ensuring quality control, and protecting/developing seafood exports. Its goals are to realize India's full export potential of seafood products in a sustainable manner.
India's balance of payments witnessed improvements in 2009-10 as the global economic recovery was visible. Exports and imports both increased during the third quarter, with the trade deficit lower than the previous year. The current account deficit was marginally higher for April-December 2009 compared to the same period in 2008, due to a fall in invisibles surplus despite a lower trade deficit. Capital flows remained strong, led by FDI, portfolio investments, and trade credits. Foreign exchange reserves increased by $27.1 billion for the year, reaching $279.1 billion in March 2010. The turnaround in exports and continued capital inflows inflows buoyed India's external sector.
India's balance of payments records all transactions between India and the rest of the world. The current account records exports/imports of goods and services and transfer payments, and typically shows a deficit for India. The capital account records flows like foreign investment and loans, and typically shows a surplus. Together with errors and omissions, India's overall balance of payments was a surplus from 2006-2007 but turned to a deficit in 2008-2009 before recovering in 2009-2010. Causes of India's balance of payments deficits include huge development programs increasing imports, population growth straining resources, external borrowing, and domestic inflation.
Different services offered by management consultancy firmsnajibsayegh1
Gulf Resources is one of the leading Management Consultancy Firms in Dubai and specialize in helping business from different industries in establishing a successful venture anywhere in the UAE.
The State Trading Corporation of India LtdMayur Khatri
The State Trading Corporation of India (STC) is a government trading company established in 1956 to aid private trade and industry with exports and imports. It has over 850 employees located across India and handles a variety of goods including rice, wheat, edible oils, and coal. STC provides financial assistance and expertise to help small businesses export goods and find international markets. It also undertakes various corporate social responsibility initiatives in areas like education, healthcare, and infrastructure development.
The document discusses Agri Export Zones (AEZ) in India. AEZs are specific geographic regions designated to set up agriculture processing industries for export. They are identified by state governments and aim to boost agricultural exports. Currently there are over 60 AEZs across 20 states comprising 40 commodities. AEZs provide services like pre/post-harvest treatment, processing, packaging and storage to facilitate exports. They are expected to strengthen supply chains, add value to crops, improve prices and employment, and promote trade development. The document lists some existing and proposed AEZs focused on crops like litchis, pineapples, mangoes, vegetables, flowers and grapes.
The document discusses various approaches to export promotion in India, including knowledge transfer, subsidization of export activities, reducing governmental red tape, export financing, tax benefits, and establishing export promotion zones and institutes. It outlines several programs and policies to promote exports from MSMEs and provides details on the Export Credit Guarantee Corporation of India and the types of export credit insurance it offers to help Indian exporters mitigate political and commercial risks.
APEC was established in 1989 with 12 founding members and has grown to include 21 member economies. Its mission is to support sustainable economic growth in the Asia-Pacific region and build a harmonious community. APEC's goals include achieving free and open trade and investment through the Bogor Goals of 2010 for developed and 2020 for developing members. Key activities include liberalizing trade and investment, facilitating business, and strategic economic partnerships. APEC members represent over half of global GDP and international trade.
The global consulting industry was worth approximately $415 billion in 2013 and is expected to continue growing. Consulting firms that emphasize cost savings and efficiencies will be well positioned to benefit from increased demand. Growth in global trade and emerging markets is fueling consulting needs in areas like management, HR, technology, and more. Firms with international offices and multicultural staff will have advantages in these expanding opportunities.
Indian exports have grown significantly post-1991 economic reforms. The top sectors for Indian exports are food and agricultural products, textiles, gems and jewelry, engineering goods, chemicals and pharmaceuticals. The government aims to double India's exports by 2020 through various trade policies and sectoral support initiatives. Indian exports are distributed across regions with Europe being the largest importer of goods like minerals, electronics and steel, while North America imports basmati rice and coffee. Exports to Africa include commodities such as crude oil, diamonds, cotton and fish products.
- Mindbench is a specialist recruitment company founded in 2003 that recruits "high achievers" on a permanent and project basis for management consultancies, accounting firms, and other industries.
- They have a talent pool of over 5,000 registered consultants and have completed over 300 assignments in the UK, Europe, USA and beyond, focusing on areas like strategy, M&A, IT, and business process improvement.
- The European consulting market has grown significantly from 1996-2007 and continues to see positive growth, though an economic downturn may produce new types of cost-cutting and efficiency projects for consultancies.
Special economic zones are geographical regions that have more liberal economic laws than a country's typical laws. They are intended to be engines of economic growth. India's SEZ policy aims to enhance foreign investment, promote exports, and create opportunities for domestic businesses. As of 2007, India had over 200 functional SEZs. West Bengal passed a SEZ law in 2003 to accelerate economic reforms. SEZs in West Bengal have grown industries like jewelry production and provided employment opportunities, but they also face issues like criticisms of land acquisition practices.
India's seafood exports have the potential to reach over $3.5 billion by 2009 by focusing on value addition, expanding aquaculture, technological upgrades, and tapping unexplored resources. India's seafood exports grew from $1.6 billion in 2005-06 and are projected to reach $2.2 billion in 2007-08, with the potential for faster growth due to increasing demand from trading blocs like the EU, Middle East, China, Canada, and Russia. Key products for export include shrimp, frozen fish, cuttlefish, squid, and dried items, with opportunities for new products like tuna fish, mud crabs, sea bass, and ornamental fish.
The report *State of D2C in India: A Logistics Update* talks about the evolving dynamics of the d2C landscape with a particular focus on how brands navigate the complexities of logistics. Third Party Logistics enablers emerge indispensable partners in facilitating the growth journey of D2C brands, offering cost-effective solutions tailored to their specific needs. As D2C brands continue to expand, they encounter heightened operational complexities with logistics standing out as a significant challenge. Logistics not only represents a substantial cost component for the brands but also directly influences the customer experience. Establishing efficient logistics operations while keeping costs low is therefore a crucial objective for brands. The report highlights how 3PLs are meeting the rising demands of D2C brands, supporting their expansion both online and offline, and paving the way for sustainable, scalable growth in this fast-paced market.
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...YourLegal Accounting
Effective financial management is important for expansion and scalability in the ever-changing US business environment. White Label Bookkeeping services is an innovative solution that is becoming more and more popular among businesses. These services provide a special method for managing financial duties effectively, freeing up companies to concentrate on their main operations and growth plans. We’ll look at how White Label Bookkeeping can help US firms expand and develop in this blog.
It's All Coming Together: Getting Your Business Ready for HCS 2012 Compliance
Cover story:
GHS
Understanding the Globally Harmonized System for Classification and Labeling of Chemicals
New Classifications
Who is responsible for classifying chemicals?
Secondary Containers
Hazard communication goes beyond the original packaging
Q&A
We answer questions on GHS topics
Solutions
Products and resources to help you maintain compliance with GHS
This document provides information on the October-December 2013 issue of the Textile Value Chain magazine. It includes the table of contents which lists articles on various topics related to the textile industry, including reinventing the textile industry, natural dyes, branding, technical textiles, exhibitions, policies, and more. It also includes advertisements from textile industry companies. The document aims to inform readers about the latest issues and developments in the textile sector through this publication.
1. Export Potential Index
1.1. Export Performance Index
1.1.1. Revealed Comparative Advantage Indicator
1.1.2. Growth of Revealed Comparative Advantage Indicator
1.2. The World Demand Index
1.2.1. Share of World Exports Indicator
1.2.2. Growth of Share of World Exports Indicator
2. Market Attractiveness Index
2.1. Market Demand Index
2.1.1. Market Size (import value)
2.1.2. Trade Balance
2.1.3. Market Growth (import growth)
2.1.4. Change in Trade Balance
2.1.5. Market Prospects (GDP growth forecast)
2.2. Market Access Index
2.2.1. Distance Advantage
2.2.2. Total Exports from the Country to the Market
2.2.3. Relative Preferential Tariff Margin
DOI: 10.13140/RG.2.2.12503.47527
The document summarizes key aspects of the Direct Tax Code (DTC) 2010 introduced in India. Some key points:
1. The DTC 2010 aims to replace the existing Income Tax Act 1961 and simplify direct tax laws using simple language. It consolidates various direct tax laws into a single code.
2. Major changes include a single slab for all individuals (0-30% tax), corporate tax rate reduced to 30%, wealth tax rate cut to 0.25%, capital gains tax treated separately.
3. The DTC proposes the EET model for taxing investments and aims to promote long-term investments. Key dates for tax filing also changed to 30th June and 31st August.
MPEDA was established in 1972 by the Government of India to promote and develop the export of marine products from India. It functions under the Department of Commerce and acts as a coordinating agency between central and state governments involved in fisheries. MPEDA's roles include registering fisheries infrastructure, collecting and sharing trade information, promoting Indian seafood overseas, developing fisheries and aquaculture, ensuring quality control, and protecting/developing seafood exports. Its goals are to realize India's full export potential of seafood products in a sustainable manner.
India's balance of payments witnessed improvements in 2009-10 as the global economic recovery was visible. Exports and imports both increased during the third quarter, with the trade deficit lower than the previous year. The current account deficit was marginally higher for April-December 2009 compared to the same period in 2008, due to a fall in invisibles surplus despite a lower trade deficit. Capital flows remained strong, led by FDI, portfolio investments, and trade credits. Foreign exchange reserves increased by $27.1 billion for the year, reaching $279.1 billion in March 2010. The turnaround in exports and continued capital inflows inflows buoyed India's external sector.
India's balance of payments records all transactions between India and the rest of the world. The current account records exports/imports of goods and services and transfer payments, and typically shows a deficit for India. The capital account records flows like foreign investment and loans, and typically shows a surplus. Together with errors and omissions, India's overall balance of payments was a surplus from 2006-2007 but turned to a deficit in 2008-2009 before recovering in 2009-2010. Causes of India's balance of payments deficits include huge development programs increasing imports, population growth straining resources, external borrowing, and domestic inflation.
Different services offered by management consultancy firmsnajibsayegh1
Gulf Resources is one of the leading Management Consultancy Firms in Dubai and specialize in helping business from different industries in establishing a successful venture anywhere in the UAE.
The State Trading Corporation of India LtdMayur Khatri
The State Trading Corporation of India (STC) is a government trading company established in 1956 to aid private trade and industry with exports and imports. It has over 850 employees located across India and handles a variety of goods including rice, wheat, edible oils, and coal. STC provides financial assistance and expertise to help small businesses export goods and find international markets. It also undertakes various corporate social responsibility initiatives in areas like education, healthcare, and infrastructure development.
The document discusses Agri Export Zones (AEZ) in India. AEZs are specific geographic regions designated to set up agriculture processing industries for export. They are identified by state governments and aim to boost agricultural exports. Currently there are over 60 AEZs across 20 states comprising 40 commodities. AEZs provide services like pre/post-harvest treatment, processing, packaging and storage to facilitate exports. They are expected to strengthen supply chains, add value to crops, improve prices and employment, and promote trade development. The document lists some existing and proposed AEZs focused on crops like litchis, pineapples, mangoes, vegetables, flowers and grapes.
The document discusses various approaches to export promotion in India, including knowledge transfer, subsidization of export activities, reducing governmental red tape, export financing, tax benefits, and establishing export promotion zones and institutes. It outlines several programs and policies to promote exports from MSMEs and provides details on the Export Credit Guarantee Corporation of India and the types of export credit insurance it offers to help Indian exporters mitigate political and commercial risks.
APEC was established in 1989 with 12 founding members and has grown to include 21 member economies. Its mission is to support sustainable economic growth in the Asia-Pacific region and build a harmonious community. APEC's goals include achieving free and open trade and investment through the Bogor Goals of 2010 for developed and 2020 for developing members. Key activities include liberalizing trade and investment, facilitating business, and strategic economic partnerships. APEC members represent over half of global GDP and international trade.
The global consulting industry was worth approximately $415 billion in 2013 and is expected to continue growing. Consulting firms that emphasize cost savings and efficiencies will be well positioned to benefit from increased demand. Growth in global trade and emerging markets is fueling consulting needs in areas like management, HR, technology, and more. Firms with international offices and multicultural staff will have advantages in these expanding opportunities.
Indian exports have grown significantly post-1991 economic reforms. The top sectors for Indian exports are food and agricultural products, textiles, gems and jewelry, engineering goods, chemicals and pharmaceuticals. The government aims to double India's exports by 2020 through various trade policies and sectoral support initiatives. Indian exports are distributed across regions with Europe being the largest importer of goods like minerals, electronics and steel, while North America imports basmati rice and coffee. Exports to Africa include commodities such as crude oil, diamonds, cotton and fish products.
- Mindbench is a specialist recruitment company founded in 2003 that recruits "high achievers" on a permanent and project basis for management consultancies, accounting firms, and other industries.
- They have a talent pool of over 5,000 registered consultants and have completed over 300 assignments in the UK, Europe, USA and beyond, focusing on areas like strategy, M&A, IT, and business process improvement.
- The European consulting market has grown significantly from 1996-2007 and continues to see positive growth, though an economic downturn may produce new types of cost-cutting and efficiency projects for consultancies.
Special economic zones are geographical regions that have more liberal economic laws than a country's typical laws. They are intended to be engines of economic growth. India's SEZ policy aims to enhance foreign investment, promote exports, and create opportunities for domestic businesses. As of 2007, India had over 200 functional SEZs. West Bengal passed a SEZ law in 2003 to accelerate economic reforms. SEZs in West Bengal have grown industries like jewelry production and provided employment opportunities, but they also face issues like criticisms of land acquisition practices.
India's seafood exports have the potential to reach over $3.5 billion by 2009 by focusing on value addition, expanding aquaculture, technological upgrades, and tapping unexplored resources. India's seafood exports grew from $1.6 billion in 2005-06 and are projected to reach $2.2 billion in 2007-08, with the potential for faster growth due to increasing demand from trading blocs like the EU, Middle East, China, Canada, and Russia. Key products for export include shrimp, frozen fish, cuttlefish, squid, and dried items, with opportunities for new products like tuna fish, mud crabs, sea bass, and ornamental fish.
The report *State of D2C in India: A Logistics Update* talks about the evolving dynamics of the d2C landscape with a particular focus on how brands navigate the complexities of logistics. Third Party Logistics enablers emerge indispensable partners in facilitating the growth journey of D2C brands, offering cost-effective solutions tailored to their specific needs. As D2C brands continue to expand, they encounter heightened operational complexities with logistics standing out as a significant challenge. Logistics not only represents a substantial cost component for the brands but also directly influences the customer experience. Establishing efficient logistics operations while keeping costs low is therefore a crucial objective for brands. The report highlights how 3PLs are meeting the rising demands of D2C brands, supporting their expansion both online and offline, and paving the way for sustainable, scalable growth in this fast-paced market.
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...YourLegal Accounting
Effective financial management is important for expansion and scalability in the ever-changing US business environment. White Label Bookkeeping services is an innovative solution that is becoming more and more popular among businesses. These services provide a special method for managing financial duties effectively, freeing up companies to concentrate on their main operations and growth plans. We’ll look at how White Label Bookkeeping can help US firms expand and develop in this blog.
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
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Discover the Beauty and Functionality of The Expert Remodeling Serviceobriengroupinc04
Unlock your kitchen's true potential with expert remodeling services from O'Brien Group Inc. Transform your space into a functional, modern, and luxurious haven with their experienced professionals. From layout reconfiguration to high-end upgrades, they deliver stunning results tailored to your style and needs. Visit obriengroupinc.com to elevate your kitchen's beauty and functionality today.
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Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
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The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
The Steadfast and Reliable Bull: Taurus Zodiac Sign
Consultancy in india
1. Q. Discuss the Future Challenges for Indian Consultants/Consulting firms
from the Domestic and Global Perception.
Introduction
1. After Independence, the Indian Government had focused on investment in
core industrial sector and infrastructure. The investment in these sectors attracted
various construction and engineering companies to explore the business
opportunities and contribute their expertise in these sectors. Domain experts were
required who could provide their core skill and competence in designing and building
the core industry, dams, roads, buildings etc. Over the years, as the Indian industry
started maturing, the Indian consulting industry also started expanding, not only in
terms of size, but also in terms of the service offerings. Over the period, specialist
consulting advice was being sought by clients in India and this opened the
opportunity for a number of specialist organizations to draw on their specialist
knowledge base and resources to meet the demand for specialist consulting
services.
Demand & Growth
2. The business world is desperate for consulting help. With excess staff being
cut down, most organisations lack the technical, strategic and project management
skills to handle the benumbing rate of technological and market change. Despite
boom in the number of consulting firms, the size of individual firms is growing in
response to another industry trend: one-stop shopping. The consulting industry is
trying its best to accommodate the demand.
3. Big consulting firms are inhaling new employees, gulping up smaller firms and
merging with peers. Consultancy providers who can't compete on size still try to offer
one-stop shopping by outsourcing a chunk of a client's project to another firm while
maintaining responsibility for the overall project.
4. India has been globally recognized for its fast paced development. The
service sector has been growing at a fast pace and now contributes more than 50%
to the GDP. Thus in the scenario, fuelled by increased demand for consultancy
services by domestic and foreign firms, the sector in India is projected to grow at an
annual rate of 30 per cent to become Rs 27,000 crore industry. The consulting
industry in India currently stands at Rs 19,000 crore. Rising opportunities due to a
booming economy and growing demand for consultancy services are key factor for
growth. There would be over 2.2 lakh people working in this field over the next three
years in the 8500-9000 consultancy firms across the country. The Largest
concentration of consultancy organisations are in the four metropolitan cities: 1.
Delhi (25.7%) has the highest number of consultancy organisation among four
2. Y KRISHNA MOHAN
ID: 2012HZ58051
2 / 4
metropolitan cities followed by, 2. Mumbai (25.5%), 3. Chennai (12.1%) and 4.
Calcutta (9.1%).
Coping to the Demand
5. In a down economy, highly successful companies will invest more in
customers, not less. Companies will compete for customer share, not market share.
Companies will realize customer satisfaction doesn't translate to loyalty and will
stitch their customer channels together.
6. Over the decades, the consulting industry has responded creatively to the
changing needs of clients, leading to the growth of a thriving industry. The insights of
history provide guidance as consultants seek the innovations to meet the future
needs of clients. Knowledge management tools, best practices databases and the
Internet make it possible for consultants to draw upon the knowledge of every
consultant in the organisation. Finally, companies will shift to a long-term focus. Only
one thing is for sure – the only thing that is constant in the consulting industry – like
any other industry – is change!
Status of Indian Consulting organisations
7. The major strengths of Indian consulting organisations include professional
competence, low cost structure, diverse capabilities, high adaptability and quick
learning capability of Indian consultants are the reasons why Indian consultants
score over their global peers. The US, UK, Japan, China, Saudi Arabia and Gulf
nations acknowledge India's consultancy firms. Indian consultancy capabilities are
strong in areas like civil engineering, telecom, power, metallurgy, chemical and
computer software.
8. The major weaknesses of Indian consulting organizations, which has hindered
the export growth of consulting sector in the country, are low quality assurance, low
local presence overseas, low equity base, lack of market intelligence, low level of
R&D
Perception & Challenges
9. It is generally opined within the consultancy service providers community, the
domestic market in India is a bit different from the international market. Keeping in
mind the differences of the domestic market with respect to the international market;
five major challenges consultants usually face in India, are :-
(a) Expectations. The first thing that the client and the consultant try
to define is “scope” of the assignment i.e. what would be the deliverables at
the end of the engagement. But “scope creep” i.e. uncontrolled changes or
continuous growth in a project's scope, a major phenomena in India, comes to
haunt the consultants and clients as the scope is inadequately defined either
due to the underlying complexity of the problem, improper pitch made by the
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consulting firms or because of the client simply focusing on the end results
without fully appreciating the problem at hand. Similarly the imagery of
business class travels and luxury hotels that one commonly associates with
consulting may not be the rule in “price-sensitive” India.
(b) Data. Getting accurate and adequate data is a major issue in
India. If we go by the inputs, market assessment, feasibility or sizing
assignments are very few and far between in developed economies whereas
India is replete with such projects. One should not be surprise by the fact that
Indian-based KPOs and analytics firms do an excellent job crunching
numbers for their foreign clients but struggle while coming up with such
insights for Indian clients and most of the blame lies with quality of data. The
need for 3-4 types of ID proofs in India is another proof that data is not
“proven” yet. So you may have a hard time drawing meaningful insights out of
them.
(c) Experience. Consultants are not scientists who invent new
offerings rather they rely on innovation or improvisation and a major source
for these insights is “collective wisdom” be it in the form of knowledge of the
various team members or experiences gained through previous engagements
in similar industries or by handling similar issues. With major consulting firms
having less than two decades of presence in India and the country witnessing
major changes in the intervening period, one may still be some distance away
from being “too-old” to “know it all” as far as Indian landscape is concerned.
Similarly for the clients, one of the major reasons for their apprehensions or
expectations is their limited experience of engaging with the consultants.
(d) Diversity. It is hard to imagine a country as vast and diverse as
India. A sector may be organised and consolidated down south but it may still
be unexplored in the east. So, with time you may get an idea about a
particular market in India but to come up with findings that apply to the entire
country, you may have to assess them separately and independently. This
would require covering the geography either as an individual or tapping into
local resources if available. Different languages, cultures, disaggregated
population, varying income levels etc. will give you a run for your money.
(e) Openness. As a consultant, one has to conduct numerous interviews
at the client end, be a part of focused group discussions, touch-base with
competitors and other stakeholders in order to draw useful insights. But blame
it on the pesky telemarketers or the consultants‟ image, it‟s not easy to
convince the external stakeholders to spare a few minutes for you unless of
course if you have a feminine voice. One of the major roadblocks is the
inability of the prospective interviewees to differentiate industry standards or
information from strategic and confidential information. But things may change
if you have close contact that connects you with the right person. It could also
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boil down to consultant‟s capability i.e. whether he is able to engage with the
interviewee or it could be because of the Indian culture of family owned
businesses where they mainly rely on close relatives for critical tasks.
10. In addition to the above major challenges, a few other challenges that effect
the scope of consultancy in India are - lack of proper project management; inability to
sell clients and their employees on recommended systems and procedures so they
are fully adopted; - over-promising results and finally the lack of communication with
the client.
Conclusion
11. In the preceding paragraphs, the different perspectives of consulting in India,
along with explanations for such perspectives, have been presented. In addition to
the above perspectives a number of other factors – called state factors and Industry
culture also play an important role affecting the perception. The state factors - states
having different labour laws, property laws and people of different cultural and
educational backgrounds determine - how industries do business, the kind of
regulations and taxes they are likely to face, and the quality of infrastructure to which
they have access, the nature and level of bureaucratic hurdles, infrastructural
challenges, archaic economy held back by traditional „obstacles to modernisation‟
such as caste etc...; The Industry culture – varying Indian corporate culture from
being old-fashioned to different degrees of modernisation, varying availability of
highly skilled labour force, varying infrastructure standards, varying degree and type
of technological development; all these included further contribute to the varying
manifestations of domestic and international perceptions.
Y Krishna Mohan
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