New Delhi, Sept. 27 -- Consulting firm Alvarez & Marsal's (A&M's) India business is exploding: revenue is set to jump from $35 million in 2024 to $120 million this year, with a $350 million target by 2030, a 10x growth in six years. Managing directors have tripled to 66, and headcount is up from 300 to 1,600.

Luis de Lucio, managing director and head of growth markets at consulting firm A&M, tells Mint that the business is driven more by private-equity and corporate advisory work than by restructuring, the firm's traditional core.

What's driving A&M's push into India right now?

We grew to a point in the US and Europe where we now have the financial muscle to make intelligent strategic bets elsewhere without leveraging the firm. We're n...