Information technology (IT) giants like Cognizant Technology Solutions and PricewaterhouseCoopers (PwC) feel retail, logistics and manufacturing verticals will take up the largest chunk of their consulting business in the years to come. |
According to Atanu Mukherjee, chief architect of Cognizant, "We foresee several new verticals and technologies opening up. In the nascent stages, these sectors would register higher growth for our consulting business." |
At present, the banking and financial services make up for almost 40 per cent of Cognizant's revenues for its consulting business. |
Verticals like performance improvement for clients and mergers and acquisitions make up for around 65 per cent of PwC's consulting business. |
According to Arnab Basu, senior manager - performance improvement of PwC, "Advisory practice in India is growing at 35 per cent, while globally the sector is growing at about 25 per cent. In India, government risk compliance, market regulation and public sector privatisation make up for the largest of PwC's advisory practices." |
With new services and sectors opening up, Cognizant and PwC are also looking at doubling their employee strength and even opening new offices to tackle more clients and contracts. |
PwC plans to double its employee strength in India. It has about 4,000 employees right now in India. Kolkata alone has 2,000 employees. |
PwC's consulting business has about 800 employees right now which will also be doubled. |
Cognizant, at the same time, is setting up a new centre at Bantala over 6 acre. |
Cognizant's employee strength will be doubled by about 15 per cent. It has about 4,500 employees in Kolkata right now. |
"Another reason why we are on a hiring spree right now is because we foresee tremendous growth from South Asia in the next two years. Till recently, US used to make up for 75 per cent of our business, while about 20 per cent used to come from Europe. We automatically need more people to manage new verticals and clients," pointed out Mukherjee. |