McKinsey CEO Bob Sternfels Hails India's Growth Potential, Says 'It's India's Century'
McKinsey plans a "disproportionate commitment" to India for which its global board will be coming to the country in December, said Sternfels to the Economic Times.
McKinsey & Co CEO Bob Sternfels has said that India will become a hub of future talent as it will have world's 20% of the working population by 2047. While making the statement in an interview to the Economic Times, Sternfels said it will not just be India's decade, but India's century, with all key components in place.
"Many people have said that it's India’s decade. I actually think it's India’s century when we look at some of the raw ingredients here. India is the future talent factory for the world. By 2047, India would have 20% of the world’s working population. And with supply chains being reimagined, it has massive potential for India across all aspects of manufacturing.," Sternfels said while speaking to the Economic Times.
He also hailed India's digitalisation growth and said " India has leapfrogged on the digital scale. All those are the raw materials to do something special for not only the Indian economy but potentially for the world."
McKinsey plans a "disproportionate commitment" to India for which its global board will be coming to the country in December, said Sternfels to the Economic Times.
The company has 5,000 people in India, a number it wants to double to 10,000.
"I’m bringing our global board here in December because we are going to make a disproportionate commitment to India. We are about 5,000 people in India now—both in India practice and global centres—and it’s my aspiration to get to 10,000. We are about 40% women today, and I want that to be 50%. We turn 100 in 2026, so my question is, what can we be in 2026 in India,' said Sternfels in the interview.
On being asked how McKinsey performed in India during the Covid-19 Pandemic Sternfels said to the Economic Times, "Our growth in India has consistently been in double digits and is underpinned by these great client references. Our people processes are global and when we look at the performance of our Indian partners globally. They are disproportionately successful."
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