Nasdaq-listed Diamond Management & Technology Consultants is positioning itself to address a fast-globalising Indian corporate sector, aiming to blend its unique mix of technological knowledge and strategic advice in riding the country's economic boom.

The US-based company, earlier known as Diamond Cluster, believes high growth and global ambitions will drive Indian firms to look towards fundamentally orienting or re-inventing themselves in services where the difference between success and failure lies in building and running businesses around technology.

Is India ready for this yet?

“I think it will be, but I don't think it is yet,” Diamond's chairman Mel Bergstein said in an interview in New Delhi, where he addressed the Hindustan Times Leadership Summit. “We take a long term view and we have to be here.”

Diamond, founded in 1994, was born out of a need that founder Bergstein, a former Accenture, saw because bigger consultancies like McKinsey and Co and the Boston Consulting Group where preoccupied with advising clients on overall strategy, while players like Accenture were focused on technological services that involved controlling budgets and execution.

Diamond is positioned in the middle, and uses relatively small team to do high-value objective consulting work that gets an average revenue of $350,000 to $400,00 per consultant, well above Accenture's estimated $120,000 but somewhat below McKinsey's estimated take of $500,000, Bergstein said.

Diamond expects revenues of $170 million this year.

"We have small teams, high rates and very senior management focus. We have no product to sell," Bergstein said. "We call the company Diamond because of the team shape. Clients are not hiring a pyramid."

Among Diamond's cutting-edge specialisation areas are the business of taking financial institutions to rural areas to tap customers, and using capacity in telephone networks to help build "mobile virtual network operators" (MVNOs). MVNOs are strong brand players like Virgin Mobile who use their marketing and brand power to sell telecom services, but their back-ends are provided for and managed by telephone service firms.

Diamond has large global clients like Goldman Sachs and advises on complex issues like helping a bank get maximum consumer loyalty and brand value by using its ATMs, Internet, branches in an optimal way.

In India, industry officials say Diamond has already worked for Reliance Infocomm and Bharti Airtel in rolling out mobile phone services.