Consultancy company Booz charts India entry
International consulting firm, Booz & Company is expecting India to contribute around 7% to its global revenues in 4-5 years.
By Dibyajyoti Chatterjee, ET Bureau |
MUMBAI: International consulting firm, Booz & Company is expecting India to contribute around 7% to its global revenues in 4-5 years. This is Booz���s second innings in a market that it exited in 2000. The firm was called Booz Allen Hamilton in its earlier avatar.
Booz & Co���s chairman Joe Saddi is looking at India on a long-term basis. ���India is a market with enormous potential and it was missing from our global footprint. It is a more integrated economy today and being in the country was, therefore, an easy decision to make,��� he said.
Booz plans to focus on financial services, energy, telecom and FMCG space in India. The company will have a headcount of 80-100 people over the next 3-4 years, compared to the existing 20. Booz will be up against the likes of McKinsey, who have been in India for a long time.
While admitting the difficulties lying ahead, Mr Saddi admitted that getting a share of the Indian market will be a long-haul game. ���Like in the good times, firms will need guidance to grow and restructure. There are several companies who have relatively clean balance sheets and will need guidance on how to acquire companies,��� he added.
The US and Europe account for over 50% of Booz���s revenues. Going ahead, the company will have to expand its presence in emerging markets, including the BRIC economies, to about 35% of its business in 4-5 years.
Booz & Co���s chairman Joe Saddi is looking at India on a long-term basis. ���India is a market with enormous potential and it was missing from our global footprint. It is a more integrated economy today and being in the country was, therefore, an easy decision to make,��� he said.
Booz plans to focus on financial services, energy, telecom and FMCG space in India. The company will have a headcount of 80-100 people over the next 3-4 years, compared to the existing 20. Booz will be up against the likes of McKinsey, who have been in India for a long time.
While admitting the difficulties lying ahead, Mr Saddi admitted that getting a share of the Indian market will be a long-haul game. ���Like in the good times, firms will need guidance to grow and restructure. There are several companies who have relatively clean balance sheets and will need guidance on how to acquire companies,��� he added.
The US and Europe account for over 50% of Booz���s revenues. Going ahead, the company will have to expand its presence in emerging markets, including the BRIC economies, to about 35% of its business in 4-5 years.
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���In the initial years, India will contribute a marginal part of our total business,��� said Booz India managing director, Suvojoy Sengupta. Booz is banking heavily on the energy sector in India. ���There are a sizeable number of private players and lot of investment is coming into the sector,��� said Saddi.Start a SIP with as low as ₹500 with ET Money App!
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