I just recently moved to India after many years of consulting in US and Europe to start a consulting firm here.
The market according to my estimate is very promising. I calculate around worth US25B by 2009. This figure includes opportunities on offshore as well as domestic engagements. This calculation is based on a projected growth of IT services market at the rate of 35% from the present levels. Then assume 25% of that by 2009 will be from strategic consulting services.
Parts of the domestic consulting market is already booming because of M&A activity and public sector initiatives (infrastructure) . Offshore consulting is on the rise because domain knowledge and world reputation has risen significantly in recent years.
Rising salaries and the rupee strengthening in India is forcing the big IT service firms to turn to management consulting.
So far we have had good success in training young B-School grads for major consulting firms in India (we conduct consulting boot camps in ZENESYS)
Any further insights from others......?