Top 10 Consulting Firms in India
The business consulting industry in India has performed extraordinarily well over the last ten years and made its way into one of the most important sectors of the Indian economic revolution. The emergence of consulting firms in India indicates how the country continues to change its business demands, not only on classical industrial issues, but also on state-of-the-art digitalization demands. Such organizations are strategic-partners both to the domestic business and the multinational corporations wanting to venture into the chaotic market of India. Having an experience in different industries and the different functional areas, these firms have taken a lead in influencing corporate strategy, operational excellence and enabling sustainable growth in a wide range of fields across the Indian subcontinent.
What is a Consulting Company?
A consulting firm is the professional services firm offering professional advice and specialized knowledge to businesses, governments, and institutions within the operational context of offering advice to businesses through solving complex problems and achieving particular goals and objectives. These companies have their well-experienced professionals with in-depth industry knowledge, analysis skills and strategic contemplation skills to offer personalized solutions. The consultancy firms are normally spread in various service lines that include offering of strategy, enhancement of operations, implementation of technology, transformation of organization, and management of risks.
Understanding the Indian Consulting Landscape
Evolution of the Indian consulting ecosystem The consulting landscape in India has changed significantly and is in line with the transformation of the Indian economy which is no longer a manufacturing based economy but has metamorphosed into an economy that is driven by knowledge and which attracts international investment and expertise.
- Market Maturity: The consulting market in India is quite mature in terms of the ability to deliver its services with mature methodologies, track records and complete solutions.
- Global Integration: In India, international consulting firms utilize domestic talent and integrate it with the global standards and come up with hybrid modes of delivery that offer a combination of cost-effectiveness and good standards.
- Digital Focus: Technology has come to sit at the center of consulting practice, and there exist firms that are experts in technologies such as artificial intelligence, block chain, cloud computing.
- Diversity of the Sector: The consulting market can cover the conventional domains such as manufacturing and banking and enter new fields like fintech, healthtech, edtech.
- Talent Pool: The country has a large educational system and is able to supply very skilled personnel to the consulting industry who will lead to the development of the consulting industry by thinking analytically.
Factors to Consider When Choosing a Consulting Company in India
To choose the appropriate consulting partner, there should be a thorough assessment of various factors that can best suit your organization because of the specific needs, strategic goals, and organizational culture to achieve best results.
- Expertise Relevance: Evaluate the expertise of the firm, knowledge in the industry, functionality and the record of producing positive results to comparable issues in your industry.
- Cultural Alignment: Identify the knowledge of your organizational culture, values, style of communicating with people and way of operating by the consulting team to enhance smooth collaboration and transfer of knowledge.
- Resource Scalability: View the capacity of the firm to scale up and down resources according to the needs of projects, deadline requirements, and budget and also maintain the quality standards at par.
- Innovation Capacity: Ever changing trends demand every business have a future ready solution which is why it is important to research the consulting company to know its investment in research and development, emerging technologies, methodological advancement, and thought leadership to realize that it has a future ready solution to the business.
- Cost Structure: Proper determination of the cost structure in terms of pricing model, value offering, ROI potential, total cost of engagement probability including its hidden costs warranted for informed financial decisions.
List of Top Consulting Companies in India
1. Accenture India Private Limited
Accenture operates in 6+ major Indian metropolises that provide services to over 200 Fortune 500 firms in India. It has also one of the largest backbones of the work force in the technology consulting of about 330,000+ working professionals in India. As one of the top consulting firms in India, Accenture has 95 percent active clients and has applied 500+ digital transformation in the same dimension on an annual level.
Their Cloud First strategy has made 75 percent of the client workloads to be moved to the clouds. It has been investing a billion dollars every year in research and developments and has over 40 innovation centers located globally of which 4 are in India. Accenture has recorded its increase in revenues in India at an average of 12-15 percent every year where 60 percent of its absolute revenue comes through technology consulting.
Key Services:
- Technology Consulting
- Digital Transformation
- Cloud Solutions
- Industry X.0
- Business Process Services
- Data Analytics
Founded: 1989
Founder: Joulie Sweet
Address: 17TH FLOOR,EXPRESS TOWERS, NARIMAN POINT, MUMBAI-21
Website: www.accenture.com
2. McKinsey and Company India LLP
McKinsey has 8 offices in India and it has opened into more than 70+ of the best 100 companies market cap in India. As one of the top consulting firms in India, the company possesses more than 2,000+ Indian-based consultants and 85 percent of them possess postgraduate degrees in top quality institutions. McKinsey has counselled over 500 billion dollars worth of transactions in India within the past 10 years.
The above practice of digital transformation that they are seeing has grown 300 percent since 2018 and as of now it is 40 percent of Indian revenue. The firm is able to sustain the ratio of Client satisfaction at 95 percent and has published 200+ research reports about Indian markets. The alumni community of McKinsey includes 25+ working CEOs of the largest Indian corporations, and this is an ultimate talk about the impact on talent nurturing.
Key Services:
- Strategic Planning
- Corporate Finance
- Digital Analytics
- Operations Transformation
- Organization Design
- ESG Consulting
Founded: 1926 (India operations: 1992)
Founder: James O. McKinsey
Address: 6th Floor, 1 SOBHA No: 50, St. Marks Road, Bengaluru 560001 India
Website: www.mckinsey.com
3. Tata Consultancy Services Limited
TCS has more than 614,000+ professionals across the world where 85 percent work in India and are distributed in 150+ delivery centers. With 55 countries and over 1,900+ clients, the firm has a ninety-nine point five percent on-time delivery record. With a research budget of over 700 million dollars annually, TCS has confirmed more than 5,600 patents.
As one of the top consulting firms in India, the share of their revenue under the digital transformation is 55 percent of the total revenue that has shown an increase of 18 percent a year. The company has 400,000+ employees who train through TCS Learning Platform annually. The company is amongst the most valuable in India since it possesses a market value of more than 150 billion. They own 2.8 billion of consulting business, over 200+ enterprise customers, and exclusive domain expertise in 12 Industry verticals.
Key Services:
- IT Consulting
- Digital Transformation
- Enterprise Solutions
- Analytics Insights
- Industry Solutions
- Cloud Migration
Founded: 1968
Founder: Tata Group
Address: 1, Mandi Parishad Rd, Vijaipur Colony, Vibhuti Khand, Gomti Nagar, Lucknow, Uttar Pradesh 226010
Website: www.tcs.com
4. The Boston Consulting Group India Private Limited
It operates 6 offices in India and retains 1,500+ professionals and 90 percent of senior partners. As one of the top consulting firms in India, the firm has also attended to more than 2,000+ strategic programs in India, and the mean project value is 2.5 million dollars. The digitalization practice of BCG comprises 45 percent of the Indian revenue, increasing by 25 percent annually.
They authored 150+ thoughts about Indian markets, mentioning them 5,000+ times as a source in business writings. To get the talent, the company has signed contracts with 15+ Indian business schools. Through propositions of strategies, BCG has helped its clients create value worth more than 100 billion dollars. Since 2020, they have increased their sustainability practice by 200 percent and have addressed ESG issues with 80+ clients.
Key Services:
- Corporate Strategy
- Growth Strategy
- Digital Transformation
- Operations Excellence
- Change Management
- Sustainability Consulting
Founded: 1963 (India operations: 1995)
Founder: Bruce Henderson
Address: DLF Cyber City, DLF Cyberpark, 7th and 8th Floor, Phase II, Udyog Vihar, Sector 20, Gurugram, Haryana 122008
Website: www.bcg.com
5. Bain and Company India Private Limited
Bain has 3 offices in India in which there are over 800 consultants, and satisfaction on employee levels stands at 92%. As one of the top consulting firms in India, the company has completed 1,500+ project work in India with the recommendation of 95 percent of the clients. The firm has transaction expertise across India, having advised on more than 50+ billion deals over the past 5 years as part of its private equity practice in the country.
Their strategy on Net Promoter Score has already been adopted by more than 300+ Indian firms. The average ROI stands at 400%, and half of the revenue is indicated by digital transformation projects that seek to provide value to clients. Over 10,000+ executives have been developed in capability building programs at Bain. KPIs through results-oriented strategy within the firm offer measurable outcomes in which 85 percent of the projects achieve the intended KPIs within 18 months following the implementation of the same.
Key Services:
- Strategy Consulting
- Private Equity
- Performance Improvement
- Customer Strategy
- Digital Solutions
- Mergers Acquisitions
Founded: 1973 (India operations: 2006)
Founder: Bill Bain
Address: Building 10, Tower C, 20th floor, City, DLF Cyber City, DLF Phase 2, Sector 24, Gurugram, Haryana 122002
Website: www.bain.com
6. Ernst and Young India Private Limited
EY India provides its services to 2,500+ clients, of which 85 percent are listed in the National Stock Exchange, and has 75,000+ professionals working in 14 offices. As one of the top consulting firms in India, the company incurs more than 200 billion dollars annually in transaction advisory business. EY’s tax practice is a key player in India, where it carries out 40 percent of the largest corporate tax transactions.
Their technology consulting service segment has grown at 35 percent per year and accounts for 30 percent of Indian revenue. More than 500 research studies about Indian requirements and tendencies were admitted by EY. The firm covers over 90 percent of the Indian banks and financial institutions through its risk advisory practice. EY invests more than 50 million dollars annually in technology infrastructure, talent development, and retention—with an 88 percent client retention rate across all service lines.
Key Services:
- Business Advisory
- Risk Advisory
- Financial Advisory
- Tax Advisory
- Technology Consulting
- Sustainability Services
Founded: 1989 (in India)
Founders: Arthur Young and Alwin Ernst
Address: 22nd Floor, B Wing, Privilon, Ambli BRT Road, Behind Iskcon Temple, Off SG Highway Ahmedabad 380 059
Website: www.ey.com
7. PricewaterhouseCoopers LLP
Having 19 offices and a workforce of 55000+ professionals catering a list of 3000+ clients in 150+ cities, PwC India is increasingly gaining the momentum in the Indian market. It also regulates most of the IPO transactions taking place in India (60 percent); and it engages in transactions worth $15+ billion annually. In India, the consulting practice of PwC has an outward revenue of 1.2 billion and this increases by 20 percent on a year-to-year basis.
They have been providing the solutions of technology in more than 500 companies with a success rate of 95 percent. The number of activities that the cybersecurity practice of this firm contributed has doubled in 3 years and the value of assets it has been able to protect is over 500+ billion. In the disruptive technologies and digital skills, PwC is investing more than 100 million dollars annually. They are the thinking authorities, they have 300+ publications about the Indian business environment and they are downloaded over 1 million times across the globe.
Key Services:
- Management Consulting
- Technology Consulting
- Risk Assurance
- Transaction Services
- Cybersecurity Consulting
- Digital Strategy
Founded: 1998 (in current form)
Founders: Samuel Lowell Price, Edwin Waterhouse, William Cooper
Address: Shapath-V, 17th Floor Opposite Karnavati Club, Ahmedabad, Gujarat, India
Website: www.pwc.com
8. Deloitte Consulting India Private Limited
Deloitte India possesses an 85,000+ work force in 25 offices, 2,000+ number of clients and 90 percent customer retention. The company completed over 3 thousand digital transformation initiatives on average of 12 months project duration.
The human capital service of Deloitte has a history of serving 70 per cent of the fortune 100 that operates in India. It has over 300+ Billion dollars of Indian businesses covered by their risk advisory unit. The company invests not less than 200 million dollars per annum on innovation laboratories and research on emerging technology. Through learning platforms as well as certification programs, Deloitte trains over 100 000 professionals throughout the period. There are over 800 million dollars in consulting fees generated in India alone and technology advisory accounts 40 per cent and increases by 25 per cent annually in India.
Key Services:
- Strategy Operations
- Human Capital
- Technology Advisory
- Risk Advisory
- Financial Advisory
- Digital Transformation
Founded: 1845 (Global), 2004 (India operations)
Founder: William Welch Deloitte
Address: Prestige Trade Tower, Level 19, 46, Palace Road, High Grounds Bengaluru, Karnataka 560001
Website: www2.deloitte.com
9. KPMG (Klynveld Peat Marwick Goerdeler)
Having 35,000+ professionals in its 22 offices and counting, KPMG India has been serving 1800+ clients, with 75 per cent of BSE-500 companies. The company has advice to make deals of 25+ billion every year, and their success rate is 98 per cent. Since 2020, the ESG advisory sector at KPMG has expanded by 250 percent, and they have 400+ customers concerning sustainability initiatives.
They have created 200+ writing of thought leadership in Indian markets and regulations. The firm excels in installation of technologies in over 92 of the 800+ project works. KPMG devotes over 75 million annually to digitally transformational capabilities and talent. They own a risk consulting service that is well established in the pharmaceutical firms (80 percent) and automotive firms (60 percent) in India.
Key Services:
- Management Consulting
- Risk Consulting
- Deal Advisory
- ESG Advisory
- Financial Services
- Technology Implementation
Founded: 1987 (India operations)
Founder: Klynveld Kraayenhof & Co.
Address: KRM Tower, Ground, 1st, 2nd, & 3rd Floor, No.1, Harrington Road, Chetpet, Chennai 600031
Website: www.kpmg.com
10. RedSeer Consulting
RedSeer is proud of 400+ consultants who work with business in the digital ecosystem, and welcomes 200+ customers, occupying 90 percent of Indian unicorns. The company has released over 150 reports on Indian online markets and they have already found mentions in over 1000+ media publications.
On e-commerce, fintech as well as digital platforms, RedSeer monitors more than 50 important performance measures. They have recommended prices of the investment advice amounting to 10+Billion dollars of different Indian start ups and in the digital business. The firm has more than 100 million data points in 20 industry verticals with a database that is more than 100 million consumer Insight.
Key Services:
- Market Entry
- Due Diligence
- Growth Strategy
- Consumer Insights
- Digital Strategy
- Investment Advisory
Founded: 2009
Founder: Anil Kumar
Address: Prestige Obelisk, Kasturba Rd, Ambedkar Veedhi, Sampangi Rama Nagar, Bengaluru, Karnataka 560001
Website: www.redseer.com
Key Sectors Served by Consulting Firms in India
The consulting industry in India is diversified with a market in a wide range of sectors, as India is a complex business land with businesses in the conventional as well as differentiating market having their requirements.
- Financial Services: Digital transformation, regulatory compliance, risk management, and customer experience in the consulting areas are used by the banks, insurance, and fintech companies.
- Technology: consulting firms in India are contracted by IT services providers, software development firms, companies focusing on telecommunication and emerging technology firms to assist in strategic planning, optimization of operations.
- Healthcare: Healthcare companies, such as pharmaceutical manufactures, medical device companies, hospitals, and companies providing healthcare technology, are interested in getting consulting help with regulatory affairs and access to the market.
- Manufacturing: The old manufacturing industries such as automotive, textile, chemicals, and consumer goods are using consulting services in optimization of supply chains.
- Government: The government and other public sector organizations hire the services of consulting firms to come up with policies, implement programs, and take part in digital governance programs.
Future Outlook of Consulting in India
The Indian consulting business is set to bank more and evolve due to the technological change, economic change and business demand in various business sectors and markets.
- Digital Integration: India consulting firms will focus more on the use of artificial intelligence, machine learning, automation and data analytics in service delivery in order to make the solutions more effective.
- Sustainability Focus: Businesses will be more focused on having sustainable practices and therefore consulting in areas of environmental, social, and governance will be the primary service.
- Sector Specialization: It will make firms more specialized over new sectors of energy sources such as renewable energy, electric vehicles, biotechnology, and space technology.
- Global expansion: The Indian consulting firms will be globalising their operations, forming international alliances, and having clients who are based abroad serving global clients as they exploit the talent base in India.
- Innovation Leadership: The industry will be innovative in terms of investments in research and development, thought leadership and proprietary methodology.
Conclusion
The consulting firms in India landscape is a thriving and fast-changing environment, which remains one of the major players in assisting the business transformation of India. Such organizations have been very flexible and able to respond to various client needs with wide standards on service delivery and innovations. Whether it is conventional strategy consulting or more advanced digital transformation services, these companies have proven themselves to be reliable partners of companies wishing to gain financial growth and competitive edge in the long-term perspective.
The future of the consulting industry in India is bright as there are opportunities that are generated because of the advancement in technology, changes in regulations, and changing market dynamics. Indian firms are becoming more complex as well so the skills and strategic intelligence that consulting firms offer will always be needed in helping companies succeed in organization as well as leading and dominating the market in the Indian energetic economy.
Frequently Asked Questions
How much do the consulting firms in India charge on average?
Firms charge a wide range of fees depending on their reputation, nature of the project, and term of engagement that is usually between 50,000 and 5,00,000 Indian rupees per month on mid-level projects.
What is the average time duration a consultation assignment takes up in India?
The average length of most consulting projects is 3-12 months, based on scope, complexity, some strategy projects are shorter and implementation projects take more time.
Are the consulting organizations in India involved in small and medium enterprises?
Yes, there is a range of consulting companies specializing in serving SMEs, and there are companies specialized in serving small firms with individual solutions, they are called boutique companies.
What are the qualifications that I need to look out for when I am employing consultants in India?
Identify appropriate industry experience, track records, excellent analytical capabilities, cultural compatibility and membership by credible competency organizations or authorities.
What are measures of success of a consulting engagement?
The measures of success are to be associated with the realization of set specific goals, effects in business that can be measured, inducting knowledge, and long-term stability of developed solutions.
