Do emerging markets ever change?
The answer seems to be “yes” – after all, how can a country stay in “emerging” mode indefinitely?
It turns into a developed market with an advanced economy (Japan), or it slides back into third-world status due to economic and political failures (Argentina).
But one potential exception to that rule is India, where the finance industry, at least, hasn’t changed much since we first started covering it.
Back in 2009, for example, there were 2,000 – 3,000 front-office IB jobs in the entire country, a lot of people were “tricked” into working for KPOs rather than real banks, and most firms recruited students from the top IITs and IIMs…
…and six or seven years later, most of that is still happening.
Since the market hasn’t changed much, I figured it would be more useful to cover a different industry instead – we’ve featured investment banking (twice) and private equity, so this time around it’s Big 4 Transaction Services (TS) in India.
And our industry expert is a reader who currently works at one of the Big 4 firms in India, advising on transactions there:
Industry Overview and How India is Different from the U.S. and U.K.