Punit Renjen said global business leaders do see India’s potential as they rework their business strategies for the new normal created by the pandemic.(Ramesh Pathania/MINT)
Punit Renjen said global business leaders do see India’s potential as they rework their business strategies for the new normal created by the pandemic.(Ramesh Pathania/MINT)

‘Deloitte to double its workforce in India’: Punit Renjen, Deloitte CEO

Deloitte’s expansion of workforce is expected to boost not only services to domestic customers but also those exported from India. Renjen said the decision is in part due to the talent arbitrage that India offers.
By Mint Correspondent | Livemint, New Delhi
UPDATED ON DEC 11, 2020 04:14 AM IST

Professional services firm Deloitte will double its 55,000-strong workforce in India over two to three years to tap the talent pool India offers, Deloitte Global chief executive officer Punit Renjen said at the Hindustan Times Leadership Summit on Thursday.

Deloitte’s expansion of workforce is expected to boost not only services to domestic customers but also those exported from India. Renjen said the decision is in part due to the talent arbitrage that India offers.

“We have 55,000 individuals who serve the most prominent clients and government in India and the world from India. We have centres in Hyderabad, Gurgaon and Pune that serve the world. Our plan over the next two to three years is to double that workforce. It is partly because of the talent arbitrage opportunity,” he said.

Deloitte Global refers to Deloitte Touche Tohmatsu Ltd, its global network of member firms and their related entities though each of them are legally separate and independent entities. Deloitte operates in about 150 countries with more than 300,000 professionals.

Renjen said global business leaders do see India’s potential as they rework their business strategies for the new normal created by the pandemic. “This is the Indian century. Many are bullish about India,” he said, referring to the talent pool and demographic dividend India has. “Every business and chief executive officer I speak to are going to reassess and re-engineer their supply chains. It is an opportunity for India. India aspires to be a $5 trillion economy. We are certainly fully on board with that notion. I think it is an opportunity for India to get some of the supply chain to relocate to India,” said Renjen.

Though 2020 has been a miserable year for nations, the global community, society and individuals, the world is adapting to suit the new environment. The pandemic has disrupted business but there has been a silver lining — there is a better way to address the issues including climate change, he said.

Deloitte is evolving a hybrid model of online and offline working practices. “We have 800 offices globally in 150 countries. Will we need 800 offices? Probably not. Will 300,000 people work remotely? No. But we will work in a hybrid way. The pandemic has fundamentally changed the way we work,” he said.

SHARE THIS ARTICLE ON
Close
Treasury Secretary Janet Yellen and Microsoft Corp. co-founder Bill Gates were the latest to weigh into a debate over the digital coin. Gates cautioned about how investors can be swept up in manias, while Yellen said Bitcoin is an “extremely inefficient way of conducting transactions.”(REUTERS)
Treasury Secretary Janet Yellen and Microsoft Corp. co-founder Bill Gates were the latest to weigh into a debate over the digital coin. Gates cautioned about how investors can be swept up in manias, while Yellen said Bitcoin is an “extremely inefficient way of conducting transactions.”(REUTERS)

Bitcoin on your balance sheet? Here's what you need to know

Reuters, London/new York
PUBLISHED ON MAR 08, 2021 12:20 PM IST
Here are some of the key questions over cryptocurrency bookkeeping and tax.
Close
Sensex opens 250 points higher at 50,678; Nifty begins session above 15,000-level
Sensex opens 250 points higher at 50,678; Nifty begins session above 15,000-level

Sensex rebounds over 270 points in early trade; Nifty reclaims 15,000-level

PTI
UPDATED ON MAR 08, 2021 09:54 AM IST
On the Sensex chart, ONGC, NTPC, Axis Bank, M&M, HDFC Bank and SBI were major gainers – climbing as much as 4.3 per cent.
Close
Gold price saw a huge decline last week.(Reuters Photo)
Gold price saw a huge decline last week.(Reuters Photo)

Gold price recovers from 9-month low: Here's why

By hindustantimes.com | Edited by Amit Chaturvedi
UPDATED ON MAR 08, 2021 07:59 AM IST
Last week, the price of the precious metal suffered a huge fall. However, a stronger-than-expected US non-farm payrolls data helped it recover somewhat.
Close
According to the Rural Health Survey 2018-19, there is an 85.6% shortfall of surgeons, 75% deficit of obstetricians and gynaecologists, 87.2% of physicians, and 79.9% shortfall of paediatricians in the primary health sector in rural areas.
According to the Rural Health Survey 2018-19, there is an 85.6% shortfall of surgeons, 75% deficit of obstetricians and gynaecologists, 87.2% of physicians, and 79.9% shortfall of paediatricians in the primary health sector in rural areas.

How govt plans to push health spending to target of GDP’s 2%

By Zia Haq, Hindustan Times, New Delhi
UPDATED ON MAR 08, 2021 06:02 AM IST
  • Despite decades of strong economic growth, the country’s spending on health care is barely 1% of GDP, way below Brics peer nations, resulting in serious supply-side deficits of facilities and professionals.
Close
Aditya Birla Capital, whose current market cap is <span class='webrupee'>₹</span> 30,000 crore, derives a majority of its market value ( <span class='webrupee'>₹</span>13,000-14,000 crore) from the AMC business alone.(Abhijit Bhatlekar/ Mint)
Aditya Birla Capital, whose current market cap is 30,000 crore, derives a majority of its market value ( 13,000-14,000 crore) from the AMC business alone.(Abhijit Bhatlekar/ Mint)

Birla Sun Life plans to raise 5,000 crore via share sale

By Anirudh Laskar, Hindustan Times, Mumbai
UPDATED ON MAR 07, 2021 11:54 PM IST
  • Aditya Birla Sun Life Asset Management has started talks with potential merchant bankers for the IPO, which is likely to be launched in the June quarter, said the people cited above.
Close
To put the scale in context, market leader Hero MotoCorp produced 6.5 million two-wheelers annually.(Hemant Mishra/Mint file photo)
To put the scale in context, market leader Hero MotoCorp produced 6.5 million two-wheelers annually.(Hemant Mishra/Mint file photo)

Ola aspires to pull off a Tesla, but affordably

By Madhurima Nandy, Hindustan Times, Bengaluru
UPDATED ON MAR 07, 2021 11:42 PM IST
  • The Bengaluru-based firm plans to start production as early as in June. That’s audacious, given that the land—260 acres for the plant and 240 acres for two supplier parks—is still in excavation mode.
Close
The Arbitral Tribunal, in a ruling by former Chief Justice of India AM Ahmadi on March 6, ordered the document to be binding.(File photo)
The Arbitral Tribunal, in a ruling by former Chief Justice of India AM Ahmadi on March 6, ordered the document to be binding.(File photo)

Zostel claims victory in legal row with OYO

By Tarush Bhalla, Hindustan Times, Bengaluru
PUBLISHED ON MAR 07, 2021 11:37 PM IST
  • The term sheet executed between the two parties in 2015, promised ZO Rooms’ shareholders 7% of Oyo.
Close
The government, which owns 54% in BEML, invited expressions of interest for the stake sale in the defence equipment maker, along with the transfer of management control, on January 4.(Reuters File Photo)
The government, which owns 54% in BEML, invited expressions of interest for the stake sale in the defence equipment maker, along with the transfer of management control, on January 4.(Reuters File Photo)

Suitors make a beeline for 26% stake in BEML

By Malyaban Ghosh, Utpal Bhaskar
PUBLISHED ON MAR 07, 2021 11:32 PM IST
  • Bharat Forge Ltd and Megha Engineering and Infrastructure Ltd may also submit expressions of interest for the government’s stake in BEML, the people said on condition of anonymity.
Close
The survey has been conducted against the backdrop of the economy coming out of recession in Q3 with 0.4% growth, after remaining in contraction mode for two consecutive quarters.
The survey has been conducted against the backdrop of the economy coming out of recession in Q3 with 0.4% growth, after remaining in contraction mode for two consecutive quarters.

Biz confidence at India Inc soars to 10-year high

By Rajeev Jayaswal, Hindustan Times, New Delhi
PUBLISHED ON MAR 07, 2021 11:24 PM IST
  • The survey captures the mood of the industry for the two quarters ending June 30, 2021.
Close
Union Minister for Road Transport &amp; Highways and Micro, Small and Medium Enterprises Nitin Gadkari interacts with media. (PTI File Photo)
Union Minister for Road Transport & Highways and Micro, Small and Medium Enterprises Nitin Gadkari interacts with media. (PTI File Photo)

Junk your old car, get 5% rebate from automakers on new purchase: Gadkari

PTI, New Delhi
PUBLISHED ON MAR 07, 2021 10:29 PM IST
Nitin Gadkari said, automated fitness tests will be set up under public private partnership (PPP) mode while the government will assist private partners and state governments for scrapping centres.
Close
The accused stole over 5kg of gold and 9kg of silver ornaments worth <span class='webrupee'>₹</span>2.82 crore. (HT Photo)
The accused stole over 5kg of gold and 9kg of silver ornaments worth 2.82 crore. (HT Photo)

Gold prices down over 20% from highs. Should you invest?

By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON MAR 07, 2021 06:40 PM IST
Gold has been falling for the past few months and has lost more than 20% in value from the highs witnessed in August last year.
Close
Of the total investment made by Indian companies in foreign markets, USD 1.36 billion was in the form of loan; USD 297.37 million comprised as equity investment and the rest of USD 183.82 million was by way of issuance of guarantee, according to the RBI data on outward foreign direct investment (OFDI) - February 2021.(REUTERS)
Of the total investment made by Indian companies in foreign markets, USD 1.36 billion was in the form of loan; USD 297.37 million comprised as equity investment and the rest of USD 183.82 million was by way of issuance of guarantee, according to the RBI data on outward foreign direct investment (OFDI) - February 2021.(REUTERS)

RBI: India Inc's overseas direct investment falls by 31% to USD 1.85 billion

PTI, Mumbai
PUBLISHED ON MAR 07, 2021 06:27 PM IST
Domestic companies made investments of USD 2.66 billion in their overseas subsidiaries and joint-ventures in the year-ago month, February 2020.
Close
Budget deficits in the Arab Gulf, where economies are reliant on oil, widened after prices crashed.(Reuters)
Budget deficits in the Arab Gulf, where economies are reliant on oil, widened after prices crashed.(Reuters)

OPEC+ surprise sees oil soar past Gulf’s budget-balancing Levels

Posted by Harshit Sabarwal | Bloomberg
PUBLISHED ON MAR 07, 2021 06:27 PM IST
The shock move by OPEC+ triggered a rally in Brent prices, which rose to almost $70 a barrel. That’s higher than annual average levels needed for the cartel’s largest producers, including Saudi Arabia, to balance their budgets this year.
Close
Elon Musk’s tumble only underscores the hard-to-fathom velocity of his ascent.(REUTERS)
Elon Musk’s tumble only underscores the hard-to-fathom velocity of his ascent.(REUTERS)

Elon Musk’s historic wealth gains unravel with $27 billion loss

Bloomberg
PUBLISHED ON MAR 07, 2021 05:04 PM IST
Musk’s fortune hasn’t been solely subject to the forces buffeting the tech industry. His net worth has risen and slumped recently in tandem with the price of Bitcoin.
Close
WhatsApp helpline is now functional in all the 138 regional offices of EPFO.(HT File Photo)
WhatsApp helpline is now functional in all the 138 regional offices of EPFO.(HT File Photo)

How to check PF balance without Universal Account Number

By hindustantimes.com | Edited by Ayshee Bhaduri, Hindustan Times, New Delhi
PUBLISHED ON MAR 07, 2021 02:49 PM IST
  • For checking EPF balance without UAN number, users will need to log into their account through the EPF homepage at epfindia.gov.in.
Close
SHARE
Story Saved
OPEN APP