Booz & Company to make a comeback in India

by Editor 9/24/2008 4:56:00 PM
Booz & Co., a leading global consultancy, has decided to return to the Indian market eight years after it had shut down business operations in the country to pursue opportunities in more developed markets.

Booz India CEO Suvojoy Sengupta, who has relocated to India with several other consultants, says:  

“Ten to 12 years ago, few companies understood what consultants could bring in. The market has evolved since then. Today, they understand what consultants can do in handling any kind of discontinuities.”

The perception of consultants has changed in the country over the last decade, Sengupta says, and most Indian companies have either used or considered using consultants by now.  

Booz global CEO Shumeet Banerji, who was part of the company’s India team in the mid-1990s, says:

“The Indian market has matured dramatically since I was last here. Indian companies now have confidence. They have a global agenda and they have access to efficient capital.”

Booz Allen was one of the first companies that entered the Indian market in the 1990s, along with the Boston Consulting Group and McKinsey. Their clients included Tata Steel, IDBI, LIC and Asian Paints. In 2000, however, company leaders decided to focus on the more developed markets, those in Europe and North America.

Booz & Co. principal Piyush Doshi explains: “The market then was in an early stage of evolution. It was fairly small. Since 2003, there has been a shift in momentum and growth in sectors like telecom, insurance, infrastructure and retail.”

Booz & Company, the management consultancy spun off from Booz Allen Hamilton in July 2008, will open an office in Mumbai tomorrow. The company plans to employ 100 staff in India in the next three years.

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