James Schiro, chairman and senior partner of Price Waterhouse LLP USA, said yesterday that the bulk of the investment will be in transfer of technology and management skills, training, development of infrastructure and forging strategic alliances to enhance the value of the services offered by the firm.
Schiro said the investments will improve the firms information technology system and modernise its audit practice. This will help support the increased client activity in the country, Schiro said.
Price Waterhouses total investment outlay for the country is by far the largest exposure being planned by any audit and consulting firm operating in the country and emphasise the increased importance India has assumed in the firms global scheme of things.
Earlier in the day, Schiro held a series of meetings with the senior partner in Price Waterhouse India, Amar Ganguli, to assess and discuss steps for expansion of the firms business in the country.
We are very excited by the pace of economic development here and believe that India is an important emerging market that will be an engine to power the future growth of the consulting and accounting business of our firm, Schiro said.
He said India was likely to become an important investment destination in the key areas of banking, insurance, energy, infrastructure and telecommunications.
Our global clients view India as an important part of the future of their business and we support them by working in teams with our India colleagues. Our objective is to help top-tier companies solve the complex problems they face when operating in markets around the world and contribute to their success.
Price Waterhouse is committed to a programme of growth in India. We will emphasise sharing of the best practices from around the world, recruiting and training of professionals who will assimilate this practice and maintain standards of client service which will be the same in India as in the US or UK, Schiro said.
Ganguli said: As India changes and grows, so will we. The market here is affording us a new opportunity to leverage Price Waterhouse worldwide expertise with our knowledge of the local business environment to help our clients become the next generation India MNCs. For this, we are investing in the development of our professional staff by improving skills in focused areas.
