Deloitte floats new Consulting firm in India

Date: 03-07-2007
Source: Financial Express

Deloitte, a global professional services firm, on Monday announced the launch of a new company, Deloitte & Touche Consulting India Pvt Ltd, to consolidate its consulting services in India. The move is a part of the company’s growth strategy to meet the needs and challenges of the growing Indian market.

The company also announced the appointment of four new partners, Roopen Roy, Joydeep Datta Gupta, Jaideep Ganguli and Arindam Guha, who will bring in their experience and expertise in strategy, operations and technology to scale up the company’s consultancy services in India.

Roopen Roy will lead the integrated Deloitte India Consulting business effective October 1, 2007 and will also join its global consulting executive as Indian leadership team. Roy was a senior partner in PricewaterhouseCoopers’ consulting practices in India and globally.

Says Manoj Singh, global managing partner, operations, “These appointments are part of our strategy to grow our non-attest services at an accelerated pace.”

Moreover, the company is targeting annual revenues of Rs 1,000 crore by 2010 in India from Rs 400 crore at present. It also plans to increase its headcount in the country to 12,000 by the end of this decade from 8,000 at present.

Deloitte earns revenue of $23 billion globally of which mergers and acquisition (M&A) contribute to about $3 billion. “We expect the M&A activity to grow at about 25-30% globally and at about 50% in India,” adds Singh.

Talking to FE, Vassi Naidoo, global managing partner, Talent, Deloitte said, “We will focus on providing service to larger deal size on the M&A front. Moreover, we will also be providing service to Indian companies looking to access capital market in London.”

“Consultancy services will be of prime focus as of today for the company. Basic services in strategy, operation, human resource, business process and engineering will be provided across the sector,” revealed Dileep Choksi, partner of Deloitte.