McKinsey seeks permission to expand ITeS biz in India

NEW DELHI: McKinsey Knowledge Centre, a McKinsey Holdings Inc arm, has sought government���s permission to set up a foreignowned Indian holding-cum-operating company to expand its IT-enabled services (ITeS) business. The proposed venture will also make downstream investments.

McKinsey Knowledge Centre is registered with software technology parks of India as 100% export oriented unit (EoU). The company wants to expand its business in the entire gamut of ITeS such as data processing, customisation of electronic data, back office operations and acting as support centre to provide research analysis and information.

According to the FDI policy laid out through Press Note 9 of 1999, companies with foreign investment have to obtain prior approval from FIPB for investment in other companies. Clearance from the board is necessary even if the company in which stake is being picked up is from a sector where 100% FDI is allowed through the automatic route.

McKinsey Knowledge Centre, India (McKC) is the largest and most diverse knowledge hub of McKinsey. The centre houses more than 400 professionals organised into three distinct service lines ��� generalist research, practice research, and analytic. These groups work with consulting teams to provide research and analyses support and to generate distinctive knowledge.

The generalist research supports consulting teams across the globe on a wide spectrum of topics covering various industries, functions, and geographies. And, the practice group supports consulting teams across the globe on a wide spectrum of topics covering various industries, functions, and geographies.