CDC Submits Report on Consultancy export potential to Vietnam

Consultancy Development Centre (CDC), an autonomous institution of Department of Scientific and Industrial Research, Ministry of Science and Technology has carried out a study for export potential of Engineering and Management Consultancy Services for Ministry of Commerce and Industry.

The basic objectives of the study were to explore the potential of export of Engineering and Management Consultancy services from India as well as to build database of Consultants, Consultancy organizations and Associations to strengthen the strategic alliances with local consulting partners. The report has discussed at length a whole spectrum of issues ranging from priority sector, consulting market size, perception about Indian consultants, competitiveness of Indian consultants viz-a-viz international consulting firms, gaps. An action plan has also been given for action by various stakeholders viz. consultants, industry associations, consulting nodal organization, government etc.

The findings have revealed that Vietnam is a booming economy growing at rate of about 8% GDP and offers a lot of consulting opportunities in infrastructure sector viz. construction, urban development, water management, energy, telecommunication besides offering short to long term consulting opportunities in sectors such as education, IT and IT enabled services, environment, transport, manufacturing etc. The study also reveals that there is an immediate match between the consulting skill sets available with Indian consultants and opportunities available in the Vietnam in these sectors. Moreover the consulting industry in Vietnam is not very well developed, thereby a large gap exists between local consulting capabilities and demand which can be leveraged by Indian Consultants by virtue of their strong consulting capabilities and cost competitiveness.

The study is expected to benefit various stakeholders, consulting firms, individual consultants, experts, government and academia through collaboration with local consultants and opportunities for competing for assignments in Vietnam. This would enhance India’s knowledge presence in Vietnam besides enhancing business opportunities to all the stakeholders.

Source : Press Information Bureau
Date : February 13, 2008