India’s management consulting market needs homegrown global players

Abhisek Mukherjee, Managing Partner at YCP Auctus, shares his perspective on why India needs more homegrown management consultancies to compete with international giants, both domestically and on the global stage.

India has built global leaders in IT services, pharmaceuticals and artificial intelligence, but not yet in management consulting. India-bred management consulting firms still face challenges due to weaker brand recognition and legacy biases. This needs to change. Thinking in India is as important as making in India.

Management consulting is soft power. These firms shape decisions and public policy. They influence how reforms are structured and how large-scale initiatives are executed. Consulting firms have helped define industrial policy in Europe, healthcare reform in the UK, and digital transformation in Southeast Asia.

This makes management consulting a powerful form of soft power. The models and frameworks aren’t just tools, but worldviews. For a country that seeks to lead in the decades ahead, shaping these worldviews becomes a strategic imperative.

This is not about displacing international firms. It’s about widening the field and ensuring that Indian firms with the capability and context get a seat at the table. Firms like YCP Auctus, Praxis, Takshashila Consulting, Redseer Strategy Consultants, Zinnov, and Vector Consulting Group are built in India but work across the globe.

In the case of YCP Auctus (a member of Nextcontinent), more than 40% of revenue comes from international clients. Vector Consulting Group works extensively across Asia, driving supply chain and operational improvements. These consulting firms are globally integrated and culturally agile. India is not their boundary but their launchpad. Some of them have attracted long-term investment from Japanese partners, underscoring their global preparedness.

This is an evolution from support functions to strategic leadership. India began as the world’s back office, moved up to strategic GCCs, and today leads the world in artificial intelligence (AI). India-bred firms like Fractal Analytics, Quantiphi and LatentView are solving high-value analytics problems using Indian talent, platforms, and delivery models.

From local and regional to global

Management consulting is the next logical step. The underlying capabilities of structured problem-solving, functional expertise, sectoral depth and execution discipline are already established. The time has come for Indian firms to shape global strategy.

Many have scaled, with teams of over 200 consultants. They recruit from top institutes in the same slot as global majors. Having worked with governments, unicorns, and conglomerates, these firms bring contextual judgment and deep institutional memory.

India-based operating models enable these firms to deliver top-tier advisory at a fraction of global prices. For most clients, whether established conglomerates or emerging companies, this quality-to-cost ratio is a decisive advantage.

For Indian firms to become globally influential, they must build intellectual property. Global firms like McKinsey & Company gained ground not just through execution, but by shaping the dis course through platforms like The McKinsey Quarterly. India-bred firms must do the same. Thought capital in areas like digital public goods, infrastructure, skilling, or inclusive growth can become both a differentiator and a bridge to influence.

Equally important is fostering alumni networks, institutional memory, and repeat ecosystems to create trust and longevity.

Influencing and shaping agendas

Management consulting can amplify India’s influence across the Global South. The opportunity for Indian management consulting firms is no longer confined to traditional clients. Today economies across the broader Global South are seeking advisory partners who can balance vision with pragmatism, scale with sensitivity. Indian firms, having operated in similarly complex and dynamic environments, are well positioned to meet this need.

Whether it’s modernising logistics in East Africa, redesigning skilling ecosystems in Southeast Asia, or supporting state reforms in West Asia, Indian consultants bring more than just capability. They bring shared context. In doing so, they export Indian models of execution, collaboration, and innovation. That is soft power in action and an enabler of diplomacy.

What’s needed

To realise this potential, Indian firms need better access to Boards and procurement channels. Governments and private clients can play a critical role by creating a level-playing field where Indian firms are evaluated based on capability and fit, not just brand. Indian conglomerates, emerging companies, private equity funds, and public sector undertakings can serve as launchpads for Indian firms to build transformational proof points.

And perhaps NASSCOM can broaden its remit to include management consulting as a strategic capability for global export.

The next bold step

India has long proven its ability to deliver talent to the world. The next step is to deliver intellectual leadership. If we want to shape how the world thinks about business and development we must invest in our own institutions of strategic thought.