From Infosys to HCL Tech, Indian IT giants play catch-up in consultancy

Indian software service giants have been slow to move up the value stream so far but they need to increase the pace to stay relevant

The analyst community tracking the Indian IT services industry took special note of Accenture’s first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion.

The management commentary was also more bullish on the consulting business. On an analyst call, Julie Sweet, CEO, Accenture, said that consulting will see strong double-digit growth, “even probably stronger than what we saw”.

What does this mean for the