Deloitte to up headcount

Financial services major Deloitte will almost double its headcount in India from 6,500 to 12,000 by 2010. This is part of the $50 million investment it has earmarked for expansion in the country.

"Within four years, the Indian firm will be the sixth largest in our global operations, on par with China. We want the company to be the centre of excellence in India for mergers and acquisitions, strategy consulting and international tax," said William Parrett, global CEO. The company will also source "technology people" from here for its global operations.

The $20 billion multinational company delivers services in audit, tax, consulting and financial advisory services. In India, where it has member firms in 13 cities, Deloitte claims to have half of the market share for audit services.

The company is looking at an annual growth of 35 per cent over four years in India, including a 50 per cent rise in business from M&A services.

"India and China will be Deloitte's super-growth markets in the Asia Pacific region," Parrett said. "By 2010, the two countries will account for almost 65 per cent of the revenues generated from the region," added Manoj Singh, CEO, Asia Pacific.

At present, the company earns about 17 per cent of its revenues from the Asia Pacific region. "Our objective is to increase the region's share to 30 per cent by 2010 and 40 per cent in the long-term," said Parrett.

Apart from the quantitative increase in its operations in India, Deloitte "will focus more on quality growth. We want to protect the brand and increase its reputation," noted Parrett.

The Global CEO is slated to address a gathering of Indian business executives at the Confederation of Indian Industries in Delhi tomorrow.

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organisation of member firms around the world providing professional services and advice in nearly 150 countries.