FDI to help India become $5 trillion economy: Deloitte CEO
ECONOMY & POLICY

FDI to help India become $5 trillion economy: Deloitte CEO

According to the CEO of Deloitte, Punit Renjen, Foreign Direct Investment (FDI) is important for India to become a $5 trillion economy.

More than two-fifths of the 1,200 businesses, countries like the US, UK, Singapore and Japan are planning for first-time investments in India.

According to a survey, India remains one of the most attractive FDI destinations.

Renjen told the media that despite the covid-19 pandemic last year, business leaders are preparing for first-time investments in India.

He further said that as per the survey, a valuable skilled workforce and prospects for economic growth are some important attractors for FDI.

He noted that though there is a significant crossover, access through the domestic market of India is crucial in addition to India's export hub.

He said that attractions from the domestic market are crucial for FDI. Many business leaders rated India higher based on economic growth and skilled workforce, which attracts investors.

The government policies are helping FDI in India, with a positive investment in infrastructure, Renjen said.

Around 16% of the business leaders in Japan, 9% in Singapore were not fully aware of the customer digitization, clearance and production, he said.

Under his leadership, this month Deloitte became the first professional services company and crossed 50 million. Despite the pandemic, the company's growth was 5.5%.

The company had informed PM Narendra Modi that it would hire 75,000 more people from India in three years. Currently, the workforce of the company is 3,45,000, out of which 65,000 are Indians.

Around 15% of the company's employees live and work in India, which will increase to 25% in three years, widening its reach to tier-two and tier-three cities, he said.

Image Source


Also read: India received $64 billion in Foreign Direct Investment in 2020: UN

According to the CEO of Deloitte, Punit Renjen, Foreign Direct Investment (FDI) is important for India to become a $5 trillion economy. More than two-fifths of the 1,200 businesses, countries like the US, UK, Singapore and Japan are planning for first-time investments in India. According to a survey, India remains one of the most attractive FDI destinations. Renjen told the media that despite the covid-19 pandemic last year, business leaders are preparing for first-time investments in India. He further said that as per the survey, a valuable skilled workforce and prospects for economic growth are some important attractors for FDI. He noted that though there is a significant crossover, access through the domestic market of India is crucial in addition to India's export hub. He said that attractions from the domestic market are crucial for FDI. Many business leaders rated India higher based on economic growth and skilled workforce, which attracts investors. The government policies are helping FDI in India, with a positive investment in infrastructure, Renjen said. Around 16% of the business leaders in Japan, 9% in Singapore were not fully aware of the customer digitization, clearance and production, he said. Under his leadership, this month Deloitte became the first professional services company and crossed 50 million. Despite the pandemic, the company's growth was 5.5%. The company had informed PM Narendra Modi that it would hire 75,000 more people from India in three years. Currently, the workforce of the company is 3,45,000, out of which 65,000 are Indians. Around 15% of the company's employees live and work in India, which will increase to 25% in three years, widening its reach to tier-two and tier-three cities, he said. Image Source Also read: India received $64 billion in Foreign Direct Investment in 2020: UN

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code