Deloitte expects India to house a third of global workforce
Deloitte has unveiled ambitious growth plans in India. The Big Four firm aims to add 50,000 staff to its headcount over the next four years, which would then see the Indian organisation represent around one third of the global workforce.
“Our aim is to become the undisputed leader in professional services, distinguished by our quality, brand, well-being, and scale,” said Romal Shetty, the CEO of Deloitte for South Asia.
The newly appointed CEO has unveiled an ambitious strategy for the company, setting a target to exceed Rs 20,000 crores in revenue within the next years. In the same period, Deloitte wants to lift its headcount to around 150,000 – in comparison, the company currently employs 415,000 staff in 100+ countries worldwide.
Deloitte’s decision to increase its presence in India is motivated by several factors. First, the country’s professional services industry remains buoyant, lifted by the massive wind of change sweeping through India’s corporate and government sectors.
According Romal Shetty, India continues to witness a renaissance in the number of foreign companies that are setting up / expanding operations in the country. Such corporates turn to large professional services firms for their tax, audit, dealmaking and consulting needs.
According to recent research from Kearney, India ranks as one of the most attractive destinations for both foreign direct investment and the setup of global business services.
The growth plan further aims to cement Deloitte’s position as the largest of the Big Four in India. Currently, Deloitte and EY have around 100,000 staff in the country, while rivals PwC and KPMG have 50,000 and 40,000 respectively.
The Indian expansion roadmap is part of a wider growth strategy across Asia. Deloitte’s Asia Pacific business currently draws revenues of around $10 billion, one sixth of the company’s $60 billion global income. In the coming years, Deloitte’s global CEO Punit Renjen aims to lift Asia Pacific’s share of the total.
Multiple fresh initiatives are spiralling out of that ambition. Deloitte for example just launched a new Southeast Asia Regional Capability Centre (RCC) in Malaysia. The centre aims to create additional 1,000 job openings for staff. “With more than 600 professionals currently employed, the centre has plans to scale up to more than 1,000 professionals within the year, and more in subsequent years,” said Deloitte Malaysia CEO, Yee Wing Peng at the opening ceremony.
