The Institute has undertaken national as well as international consultancy/advisory assignments. It has offered its services to many countries including Indonesia, Bangladesh, Bhutan, Egypt, Mauritius, Oman. Consultancy expertise covers a wide area including risk management, credit rating, financial engineering, commodity derivatives.

IICM undertakes consultancy and advisory assignments with a view to offering expertise to both new entrants and established participants in financial services industry. IICM has also offered advisory services to a number of organizations in the Indian financial sector. The advisory assignments carried out by IICM include:

An illustrative list of assignments completed in the past:

• Providing expertise to BankWorld Inc, Washington, DC as local capital market expert to assess United States Agency for International Development (USAID) assistance to Securities and Exchange Board of India (SEBI) and SEBI's future technical assistance needs (2004)
• KESDEE, Bangalore
• “Road-map for transition of the mutual form of exchanges into demutualised ones”, an assignment for the Forward Markets Commission, Ministry of Consumer Affairs, Food and Public Distribution (Government of India) (2004)
• 'Performance Incentive System' for UTI (2003)
• Preparation of courseware for Association of Merchant Bankers in India (2002)
• 'Credit Rating System' a project for UTI (2001)
• 'Risk Management System' for UTI-IAS (2001)
• Academic and research support to the Panel for National Award for Excellence in Corporate Governance for the years (1999, 2000 & 2001).
  Monograph outlining the methodology may be seen on Monograph.pdf
• 'Preparation of Training Material for Indian Venture Capital Industry' submitted to the India Venture Capital Association, a World Bank sponsored project (1998)
• 'Directory of Mutual Funds in India', prepared for AMFI (1997)
• 'National Housing Bank Project', submitted to Abt. Associates Inc., USA (1994)
• 'Increasing Fundamental Awareness', sponsored by 'Institutional Reform and the Informal Sector (IRIS)', University of Maryland at College of Park, USA for Policy Makers, CEO's & other Capital Market participants of Nepal (1994)
• 'A Procedure for Selection of Dealers of OTCEI' prepared for OTCEI (1993)
• 'Economic Reforms in Nepal ', a USAID funded project entitled
• 'Economic Liberalisation Project' (1993) providing technical support & training to Government, Banks & other Capital Market participants of Nepal
• 'Indonesian Securities Markets Development A Study', sponsored by Asian Development Bank, (ADB) (1992)
• 'Capital Markets Development in Developing Countries', sponsored by United Nations Development Programme (UNDP) for Bangladesh (1991)