Consultants play a crucial role in technological, industrial, economic, social and cultural developments at national and international levels, more so in the emerging trends towards, globalization, restructuring of economies, new world trade rules, restructuring and relocation of industries, and markets, and fast technological developments including those in ICT. India is now perceived to be the fourth largest economy in the world and a favourable destination for foreign direct investments, though technology and productivity are reported to be its weak areas. India has established itself as a recognizable entity in several areas such as computer software, business process outsourcing, IT enabled services and so on. The service sector is also significantly contributing to the total GDP and economic development in the country. The consultancy services sector has a large potential to grow and can significantly contribute to the export earnings, besides leading to more effective returns markets. Although some of the consultancy companies in India have already started taking measures to make their presence felt increasingly abroad, the potential is much more, specially in knowledge intensive areas and in sectors where strong production capabilities have been built up or where the market exist. Consultancy is essentially a knowledge based profession. The honourable Prime Minister of India has recently, on 2 January, 2005, announced the setting up of a National Knowledge Commission. The objectives of which include enabling industry and government to apply knowledge effectively. The objectives of which include enabling industry and government to apply knowledge effectively. The industry can use knowledge to enhance competitiveness and government can use knowledge based services to empower citizens. This initiative should go a long way in development and promotion of consultancy services in India. The Government of India has taken several other initiatives to encourage services sector, which include setting up of an Export of services, similar to those available to manufacturing sector and more liberalized financial assistance. The changing characteristics and requirements of consultancy business are rapidly involving multi-disciplinary approaches and expertise in contrast to the earlier discipline oriented practices. The WTO and other international trade instruments are further fuelling the need for objective oriented competitive consultancy services. This book however covers primarily technical and management consulting services.
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