KPMG sets up new unit in India

Accounting firm KPMG has set up a new business unit in India. The global major plans to make the country a major offshore hub. The move is part of its strategy to double its global revenues from $16 billion to over $30 billion by 2010. KPMG UK and KPMG India have set up a 50:50 joint venture with an initial strength of 150 professionals to provide advisory services to KPMG's global clients.

"This is KPMG's first experiment with global delivery model with a separate resource structure in place. India has been identified as a talent source for catering to global clients and with the revenue targets for 2010 in place, the global delivery model is likely to be ramped up significantly," Pradeep Udhas, CEO, KRCPL and executive director with KPMG in India, said.

KPMG Resource Centre Private Ltd (KRCPL), which has begun operating out of KPMG India's offices in Bangalore, Chennai, Mumbai and Delhi, is likely to ramp up its operations to 300 professionals within one year.

"We would set up resource centres in Pune and Hyderabad also. As the strength of this entity grows, it will provide a mechanism for many of KPMG's global clients to work with experienced Indian advisors as part of an integrated global delivery model for KPMG International," Udhas said.

The centre at present provides information risk management services to global clients. "A t a later stage, the centre will also start providing services in business advisory, strategy and sourcing. This step will position the Indian venture as a critical partner for providing high-value execution skills in a globally competitive business environment," Ian Gomes, country MD - India, KPMG, said.