With Indian corporates looking outwards for business opportunities, risk consulting is becoming more popular with India Inc. According to DTT regional practice leader (enterprise risk services) Ian Perry: "Instead of just looking at India, companies are looking overseas to source and sell products. We are helping them manage risks outside the organisation."

Elaborating on the risks that companies face while going in for global operations, Mr Perry said that various strategic risks need to be understood. This includes quality issues and the company's ability to deliver.

On the role of risk consultants, Mr Perry said that companies have to face a host of risk-related issues. But it is imperative to realise that some issues are more important which companies first need to address." Its about what to do and what not to do about risk," he pointed out.

Commenting on the risk-taking ability of Indian firms, Mr Perry said that he did not find them significantly different from their western counterparts.

However, he added that Asian companies were still at the cusp as regards what to do with risk. But during his deliberations with Indian companies, what came across was considerable awareness as regards operational risks.

Companies were intent to know about Indian best practices vis-a-vis world best practices, he added.

Mr Perry said that he did not feel that Indian companies were displaying a knee-jerk reaction to the market regulator (in this case, Sebi) as regards regulatory issues were concerned.Consulting companies provide a broader risk perspective to the organisation.

"We saw that and produced Enterprise Risk Services. It encompasses assurance and compliance services, e-business services, ERP services, internal audit services, outsourcing services and risk consulting services."

DTT has many of the largest clients in the world including General Motors and over a third of the Fortune 500 companies.