The Future of Consultancy in India – Praveena Anand, CEO, Malola Mind Mentors
I am bullish about Consultancy growth in India – both in medium term and long term.
The word “Consultancy” has always been synonymous with the likes of the Big 4 and very few companies used their expertise.
The world getting flatter, global opportunities growing in leaps and at the same time the economic impact of something happening in California affecting someone in Kanyakumari will enhance the role of Consultancies to give the right advise to its clients.
I see consultancies which offer specific consulting services would be the way rather than one roof offering everything.
That means consultants with depth in a vertical and/or a concept would be in demand. The growth of Consulting business in India, I feel, will pave way for M&A’s at the SME segments too. As such the definition of SME has been extended to those upto 100 crores and a M&A of two entities which are each 75 crores would quietly change the landscape and consultants would be playing a huge role in this area.
The competition amongst consultancies will bring in a challenge for authenticating the veracity of the advises provided by such consultancies. I see a need for consultancies to bring about clear differentiators in their specialization and effectiveness. In that aspect when I set up Malola it was clear that we will be a business psychology company providing measurable results.
The dynamics of doing business is changing and will change rapidly. Focused Consultancies offering niche services with clear differentiators have a huge future ahead in the Indian market.
The CEO Insights