Pwc To Focus On Ice Sector For Growth

Consulting firm PricewaterhouseCoopers (PwC) would focus on four sectors including information technology, communications and entertainment as part of future growth plans.

"We have narrowed down our focus to information technology, communication and entertainment as one area. The other three areas include manufacturing, financial services (including insurance and banking) and energy," PwC India chairman Amal Ganguli said.

According to Ganguli, the global major had been active in the area of corporate strategy, but a downswing in the stock markets and the economy has led to a slowdown in mergers and acquisitions, with companies increasingly focussing on restructuring.

"The M&A-based activities have slowed down considerably ever since the markets have slumped. As corporates are on a belt-tightening mode, the spate of restructuring exercise undertaken by them, on the other hand, has increased," he said.

Ganguli was speaking at the launch of its 'Ethicall' service, which offers to help large organisations detect unethical practices and protect them from the potential loss of revenues and reputation.

The service is targetted at preventing and detecting financial and other unethical practices within an organisation.

According to PwC India partner, Vali Nijhawan, the service will be fee-based and initiated over telephone lines and delivered through careful monitoring and reviewing mechanisms.

To start with, PwC will target companies with over 50 employees for improving corporate governance standards. The average fee would be about Rs 200 per annum, Nijhawan said. The service is aimed at those who want to better their efficiencies and present an accurate directors' report to the shareholders, he added.

PwC, at present, operates in the area of audit, taxation, corporate finance, corporate strategy, including M&A, restructuring and technology solutions.

The company, which is advising around 12 clients for their M&A and restructuring-related issues, also plans to add more staff to its existing strength of about 3,500 people, mainly in areas of risk management, corporate finance, consulting and information technology.