Delloite

A British Chambers of Commerce survey last week showed the escalating conflict in the Middle East was a "major factor" behind anxiety in boardrooms - though potential tax hikes were a bigger worry

India is expected to clock a GDP growth in the range of 6.9-7.2 per cent in the current financial year on the back of improving economic fundamentals, Deloitte India said in an update to its quarterly outlook. As per the first advance estimates of national income released by the National Statistical Office (NSO), the Indian economy is estimated to grow by 7.3 per cent in the 2023-24 fiscal, against 7.2 per cent a year ago, mainly due to a good show by mining & quarrying, manufacturing and certain segments of services sectors. Deloitte India's recent economic outlook report said there is an underlying momentum that is building up in the Indian economy, as seen in the improving economic fundamentals. India's current account deficit (CAD) was at 1.9 per cent of GDP in 2022-23 and is expected to be further lower in 2023-24, it said. Further, foreign exchange reserves remain at a comfortable level of Rs 568 billion which is equivalent to over 10 months of import cover. At present ...

Digital public infrastructure-led approach for the downstream spacetech segment can unlock immense value and contribute to India emerging as a global leader in the sector, a global consultancy firm said in a report on Tuesday. The report titled Exploring opportunities for Indian downstream spacetech' authored by Deloitte, Nasscom and Indian Space Association (ISpA) said the downstream spacetech sector has the potential to deliver value-added and scalable solutions to domestic and global markets and made a strong pitch for collaboration by the private sector and the government. The report listed out three core satellite applications areas Remote Sensing/Earth Observation; Positioning, Navigation and Timing (PNT); and Satellite Communication (SATCOM) and identified more than 200 use cases. "Digital public goods and digital public infrastructure (DPI) led approach for this segment can unlock immense value. The approach can become value-accretive and bring the dream of ...

India needs to grow at 8-9 per cent for the next 20 years to become a developed nation by 2047 as envisioned by Prime Minister Narendra Modi, Deloitte South Asia Ceo Romal Shetty said. He said India can benefit from the 'China plus one' strategy as no other country can offer the scale and size of operations as is available here. Referring to the space sector, Shetty said India already has 200 startups and can attract investments of USD 100 billion by 2040. "We need to grow at 8-9 per cent till at least 2047 to become a developed economy.... moving away from middle income level... To grow at that pace is not easy. Very few countries in the world have been able to grow at a pace of 8-9 per cent year-on -year," Shetty told PTI. Modi in an interview to PTI recently said India will be in the top 3 economies in the near future. "By 2047, I am sure that our country will be among the developed countries. Our economy will be even more inclusive and innovative," he had said. India is curre

The government's initiative ONDC is providing a huge platform for growth of four key sectors, including financial services, agriculture, manufacturing, and e-commerce retail, a Deloitte report said on Thursday. The Open Network for Digital Commerce (ONDC) is an initiative of the commerce and industry ministry to create a facilitative model to help small retailers take advantage of digital commerce. It is not an application, platform, intermediary or software but a set of specifications designed to foster open, unbundled, and interoperable open networks. The network aims at helping MSME players in the retail sectors to take advantage of the fast growing e-commerce space in the country. The report said that the ONDC presents an opportunity for financial institutions to engage with MSMEs segment that is mainly dependent on government schemes and non-baking financial companies (NBFCs) for credit as they are not deemed creditworthy by mainstream financial institutions. The size of lendi

Deloitte said on Thursday it was severing ties with Byju's, one of India's most successful startups, over its "long-delayed" financial statements for the year ended March 2022

Asserts that FY22, the year in which the edtech firm incurred a Rs 4,588 cr loss, was the company's best so far and that 2022-23 is set to be even stronger

Some prime slots are at best held by Indian arms of foreign firms with roots in Europe; govt itself favours the big four for mega advisory roles like disinvestment or asset monetisation

Companies are opting for digital screening of prospective recruits to overcome the difficulty of physical checks during the pandemic, write Sai Ishwar and Bibhu Ranjan Mishra

In more troubles for the auditors of the crippled IL&FS--Deloitte and BSR, the corporate affairs ministry Tuesday moved the NCLT seeking to freeze their bank accounts along with those of 21 others who are impleaded in the main petition in the one of the largest fraud cases. This comes even as the NCLT is yet to pronounce its verdict on the ministry plea seeking to ban these auditors for their omissions and commissions in the case for five years. The ministry counsel said he wants their accounts frozen as an interim measure till the tribunal delivers on its demand to ban these auditors for five years. Seeking to restrain their activities by freezing their accounts, ministry counsel Sanjay Shorey said the tribunal can allow these individuals to withdraw a certain amount say Rs 1 -2 lakh every month based on their requirement like it had done in case of IL&FS former directors. He explained that the move is based on the fact that the ministry doesn't have the powers ..

It will also seek to create new mechanism to achieve complete coverage of inspection of all the intermediaries in efficient, electronic and automated way