New Delhi, Oct. 1 -- A fresh crop of advisory firms has sprung up in India amid intensifying competition in the sector and the changing nature of work in consultancy services.

Squeezed between the established Big Four and management strategy consulting companies, these mid-tier consulting companies have chalked out a different strategy-offering specialized services to startups and private equity and venture capital firms that are more likely to tap the new cohort.

The founders of this new set of consulting companies cut their teeth in the established audit and advisory firms, but unlike their larger competitors, they are focussed on offering a select bouquet of services such as managing family offices, risk advisory, and planning initia...