Deloitte Survey

India likely to clock 7% growth in FY25 despite headwinds: Deloitte

India continues to be a bright spot in an otherwise gloomy global outlook and the country could clock a 7 per cent growth in the current fiscal despite the headwinds, Deloitte South Asia CEO Romal Shetty has said. Shetty, who is the youngest chief executive of a Big Four accounting and consultancy firm in India, said inflation is reasonably under control, there has been a pick-up in rural demand and vehicle sales are improving. "We believe that we would be in the 7-7.1 per cent range in terms of the growth (this fiscal year). You have got the headwinds, the tailwinds... But the fact is, still India is in a better position, in spite of whatever is happening globally but we can't say we're decoupled from the world," he said, adding that the geopolitical crisis in the Middle East and Ukraine and the slowdown in the western world will impact GDP growth. According to Deloitte projections, growth is likely to be 6.7 per cent in the next fiscal year (2025-26). The Indian economy grew 8.2 p

Mobility players drive 18% of total car sales in FY24, says Deloitte

Mobility sector's growth path set to accelerate to 25% by FY30: Deloitte

Most of top-level executives have positive GST perception: Survey

An increasing number of C-suite executives have a positive perception of GST with many highlighting further reforms like rationalising tax rates and effective dispute resolution process as focus areas to usher in GST 2.0, a Deloitte survey said on Wednesday. The Deloitte GST@7 survey, engaging C-suite and C-1 level executives across diverse industries through online platforms, highlights areas which have resulted in growing confidence in GST, specifically on the positive role of GST automation/ technology and consultative environment, in policy making. Reflecting growing confidence in GST, the survey found that about 84 per cent of respondents reported a positive perception of GST in 2024, up from 72 per cent in 2023 and 59 per cent in 2022. Automation of tax compliance, including e-invoicing, continues to be voted as a top performance area. Also, enhanced and continued stakeholder consultation, leading to the issuance of clarificatory circulars/instructions was considered as a ...

Deloitte India pegs FY25 GDP growth at 6.6%, raises FY24 prediction

The consultancy, however, added that inflation is expected to remain above the Reserve Bank of India's target level of 4 per cent over the forecast period due to strong economic activity

Average CEO compensation in India up 40% as compared to pre-Covid: Survey

In the last four years, the average compensation of promoter CEOs had jumped more than that of the professional ones: Deloitte India survey

Reorganisation to simplify market strategy, services: Deloitte India

Changes in Deloitte India's structure to align with changes in other countries

India likely to grow at 10% for 10-20 years: Deloitte's Romal Shetty

He urged investors to grab the opportunity India's rapid growth offers

Nearly 45% CXOs see FY25 GDP growth hitting 6-6.5%: Deloitte survey

Meanwhile, 37 per cent business leaders expect the growth to remain below 6 per cent, as they cite rising inflation rates, supply chain challenges, and global headwinds as major challenges

94% Indian CFOs optimistic about nation's economic future: Survey

As many as 94 per cent of Indian chief financial officers expressed confidence in the nation's economic future, displaying the highest optimism across the APAC region, according to the latest Deloitte Asia Pacific (APAC) CFO Survey 2023. According to the report, more than 30 per cent of Asian CFOs have confidence in the nation's economic future, with 71 per cent of Japanese CFOs being more neutral as compared to their Australian (51 per cent) and Chinese (49 per cent) counterparts. Indian CFOs' confidence underscores the resilience and proactive strategies that Indian financial leaders adopt during global economic uncertainties, Deloitte said in a statement. The report titled 'The next set of imperatives for CFOs in the Asia-Pacific region', demonstrates the business imperatives facing organisations of 276 leading CFOs in the region. It highlights CFOs' responses to the near-term business landscape marked by economic fluctuations, slowing growth, surging inflation, and elevated ...

GDP to grow at 6.5-6.8% in FY24; festive, govt spends key drivers: Deloitte

Deloitte India on Wednesday said it expects GDP growth in the current fiscal to be in the range of 6.5-6.8 per cent primarily due to upcoming festive spending as well as higher government expenditure before the national elections mid-next year. In its India economic outlook report, released earlier this month, Deloitte said India will need at least 6.5 per cent growth every fiscal to become the world's third largest economy by 2027, with its Gross Domestic Product (GDP) crossing USD 5 trillion. The country needs 8-9 per cent economic growth to become a developed country by 2047, it added. The Indian economy grew 7.8 per cent in the June quarter, higher than the 7.2 per cent in the year-ago period. "In light of the Q1 GDP growth, we have revised our growth estimate for this year to reflect it. We expect GDP to grow in the range of 6.5-6.8 per cent primarily due to festive spending in the coming months followed by higher government spending before the upcoming national elections ...

Cyber insurance gains momentum in India, set to witness growth: Deloitte

The cyber insurance market in India is expected to grow by 27-30 per cent in the coming years, a Deloitte report said forecasting cyber insurance gaining momentum. The report indicates that the current Indian cyber insurance market is valued at USD 5060 million, maintaining a steady 2730 per cent compound annual growth rate (CAGR) in the past three years. "This growth is expected to continue for the next 35 years, driven by an increased awareness of the need for cyber insurance," the report 'Cyber Insurance in India' said. It identifies industries heavily involved in digitisation, such as IT, pharma, and manufacturing, as well as those integrated with broader economic sectors like supply chain, retail, critical industries, and finance, to be the prime targets of cybercriminals. "These sectors are typically early adopters of cyber insurance," it said. The report included a survey of several Chief Information Security Officers (CISO), with 70 per cent of respondents expressing ...

Indian consumers to spend more on luxury this festival season: Study

Increased spending on back of improved finances, says Deloitte study

Adani Ports versus Deloitte: Auditors' role comes under sharp focus

38 auditors resigned in 2022-23, compared with 46 the previous year

Manufacturing companies opt for flexible work rules in post-coronavirus era

Deloitte's India Benefits Report 2023 findings reported that one-third of about 80 manufacturing firms have changed their policies to enable hybrid working arrangements post Covid-19

Market size of India's online retail sector likely to touch $325 bn by 2030

The country's online retail market size may touch USD 325 billion by 2030 against USD 70 billion in 2022, mainly due to rapid growth of e-commerce in tier-2 and tier-3 cities, according to a Deloitte India report released on Tuesday. It also said that online retail penetration is projected to grow at an extraordinary rate, and it would outpace offline retail by 2.5 times in the next decade. As India ascends to become the world's third-largest consumer market, Deloitte Touche Tohmatsu India LLP's (Deloitte India's) 'Future of Retail' report "foresees the online retail sector, which stood at USD 70 billion in 2022, to surge to USD 325 billion by 2030". The report attributes these projections to the rapid growth of e-commerce in tier-2 and tier-3 cities, which have surpassed tier-1 markets in terms of total orders. In 2022, these cities accounted for over 60 per cent of all orders, with tier-3 cities experiencing a remarkable 65 per cent growth in order volume and tier-2 cities ...

Mature start-ups need fully functional boards: Auditing major Deloitte

Deloitte has recommended that a mature start-up should forecast CSR spends depending on profitability, and a CSR policy should be made available on the company website

India Inc feels time ripe for next phase of GST reform: Deloitte Survey

A Deloitte survey revealed that Indian industries believe it's time to uncover the next phase of GST reforms to enhance the ease of doing business.

Just 25% consumer, realty firms aware of ESG norms: Deloitte India survey

Deloitte India, in its survey report, has highlighted that despite Sebi implementing sustainability regulations, several mandated disclosures lack clear guidance on responses

60% private insurers register significant rise in fraud: Deloitte survey

About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said. The survey, conducted in the second quarter of FY2023, was based on interviews with key C-suite stakeholders/senior management responsible for compliance across leading private insurers in India. Technology-led innovation in the insurance sector has brought agility, speed, superior customer .

Climate change one of key concerns for CXOs: Deloitte sustainability survey

Compared to the global average, Indian CxOs are likely to report feeling more stakeholder pressure to act from board members - 78 per cent, the government 72 per cent and shareholders 71 per cent