India's Consulting Market Segments

30% of the UK's consulting turnover comes from abroad. At Applio Ventures, we think that figure should be a lot higher - and India is a key market that we should be exporting our consulting services to.

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India's serviceable client market segments for consulting firms:

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Over 283 Enterprise-level Companies ($1B+ revenue)

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→ Number of companies listed on Fortune500 India list (2024), collectively generating $1.7T in revenues

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→ Major NIFTY 100 sector concentrations: banking/financials,  IT, oil & gas, telecoms, FMCG, pharma

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→ Consulting demand across: AI & digital transformation, operating model redesign, sustainability & ESG

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Over 5,000 Mid-market
Companies (<$1B revenue)

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→ Estimate of family-owned, PE-backed, and scale-up tech
companies in the mid-market bracket

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→ Strongest PE activity ($29B in 2024 deal volume) across: healthcare, consumer goods, EVs, manufacturing

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→ Consulting demand across: strategy, value creation, digital transformation and IPO / exit readiness

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Over 250 Public Sector Organisations

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→ ~58 ministries, 93 departments, 100+ statutory bodies

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→ £30M+/year in consulting spend estimated across government levels

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→ Consulting demand across: urban development, health delivery, transport & infrastructure modernisation

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You can find the full infographic of India's professional services serviceable market segments below.

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Here are the areas where UK management consultancies can deliver real value in the Indian market:

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Financial services account for 34.7% of the NIFTY 100 (vs FTSE 100: ~20%)

With 30+ major players across retail banking, NBFCs, and insurance, this is a big market for UK expertise in risk, regulatory, and transformation consulting

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Physical industries make up ~23% of the NIFTY 100 (including auto: 7.1%, construction, energy, and mining)

These deep-rooted physical value chains present opportunities for supply chain, procurement and ESG consulting - spanning both enterprise and mid-market segments

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Healthcare & pharma make up ~4% of NIFTY 100

Growing markets for pharma exports (£20B+) plus large-scale private-public hospital network expansion across Tier 2/3 cities present a need for full-value-chain experiences in life science and health operations consulting

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Private equity investment reached $29B+ in 2024 YTD, with most capital targeting mid-sized firms (vs UK: ~£22B).

This fuels steady demand for consulting across the PE lifecycle - from CDD/ODD to value creation

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FMCG and D2C brands are rapidly expanding across regional and national markets

These challenger companies, responding to new-age consumer demand require support with manufacturing, procurement, ESG and strategy

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For further analysis on export-country economic research, professional services market landscapes and UK services trade, visit our Resources page.