2020 was not a good year for many businesses, including consulting companies. As per the industry reports, the consulting sector saw a significant revenue loss across all markets and segments in 2020 after experiencing continuous growth between 2015 and 2019. Being a people-based, travel-heavy industry, the lockdowns and travel bans during the pandemic time affected the consulting industry significantly. However, the sector gained momentum when countries started lifting the restrictions.
Many experts in the industry believe the pandemic was a blessing in disguise for consulting firms. When the pandemic disrupted the business, it exposed the need for adaptiveness to thrive. Many companies had to look for consults to align their strategies to these continuous global trends to make a comeback. In fact, industry leaders realized that being proactive is better than being reactive.
In this dynamic world, consulting companies also need to be aware of potential changes and prepared to support their own businesses and their success and that of their clients too. Consulting companies in India are known for their quality of work and are most sought after globally. For instance, companies like TCS, Infosys, and Wipro have offices all over the world, and they give US and European consultancies a run for their money.
To understand the consulting business in India and give readers help our readers with firms that are performing exceptionally well in the market, we have come up with a special issue featuring ‘10 Must-Watch Consulting Companies in India.’ These companies have helped organizations globalize their business, develop institutional capacity, and tackle critical business challenges. On the cover, we feature Merchant Ventures Private Limited (MVPL), which was established in 2015 with an exclusive vision to serve Small and Medium Enterprises (SMEs) in four critical aspects of managing their business, i.e., finance, accounting, paralegal, management, and business processes.