India, Aug. 14 -- India has built global leaders in IT services, pharmaceuticals and AI, but not yet in management consulting. India-bred management consulting firms still face challenges due to weaker brand recognition and legacy biases. This needs to change. Thinking in India is as important as making in India.

Management consulting is soft power. These firms shape decisions and public policy. They influence how reforms are structured and how large-scale initiatives are executed. Consulting firms have helped define industrial policy in Europe, health care reform in the UK, and digital transformation in Southeast Asia.

This makes management consulting a powerful form of soft power. The models and frameworks aren't just tools, but world...