Deloitte

Gross GST growth in FY26 least since Covid-hit 2020-21, net up 7.1%

Net GST collections rose 8.2 per cent year-on-year to ₹1.78 trillion in March, supported by strong import growth, steady compliance, and rising domestic consumption trends

Disclose high-value property gifts, taxable or exempt, in tax return

With high-value immovable property gifts now under SFT reporting, scrutiny will rise, making accurate disclosure of such transactions in income tax returns increasingly important

Deloitte South Asia COO dismisses AI job loss fears, pushes for upskilling

Dismissing widespread fears that Artificial Intelligence (AI) will lead to massive job displacements, Deloitte South Asia Chief Operating Officer (COO) Nitin Kini said the consulting giant's ongoing drive to hire 50,000 professionals across India is heavily focused on upskilling employees to solve "higher-order" business problems. In an interview with PTI, Kini outlined Deloitte's aggressive expansion and investment strategy in the country, revealing upcoming plans to launch a Quantum Centre of Excellence (COE). Addressing concerns that the firm's massive 50,000 hiring target would be affected by AI automating manual tasks, Kini noted that Deloitte does not view AI as a tool to "disintermediate" layers of the workforce, but rather to unlock efficiencies. "I do not think job losses are the way. It is about upskilling and making sure that we can solve higher-order value problems with emerging tech," Kini said. The firm has already trained nearly 30,000 of its people on AI, with anoth

Cyber threats moving beyond data theft, now risk human lives: Deloitte

With cyber attacks increasingly targeting critical infrastructure such as healthcare and power grids, the global threat landscape has moved beyond mere data theft to pose direct risks to human lives, a senior cybersecurity expert has said. Gaurav Shukla, Partner and Leader - Cyber at Deloitte South Asia, noted that the convergence of Information Technology (IT) and Operational Technology (OT) has expanded the attack surface, making sectors like aviation, transport, and public utilities highly vulnerable. "For the past two years, we observed that cyber threats were not limited only to the IT systems. They were pervading beyond IT systems, and the perpetrators were targeting more of the critical infrastructure'A lot of digital transformation, which has taken place in the last few years or so, has expanded the attack surface, and whenever the attack surface increases, it provides more opportunities for the attackers to come and cause disruption. "If you are driving a connected car on a

Median CEO pay in India stands at ₹10.5 cr for FY26: Deloitte report

The median compensation for non-promoter or professional CEOs rose 5 per cent year-on-year to Rs 10.5 crore in FY26, according to a Deloitte report. According to the survey, further noted that the median CEO compensation of Rs 10.5 crore marks the slowest growth since COVID-19, alongside evolving structures around incentives, stock-linked pay and the rising prominence of roles such as the Chief Digital Officer. "CXO compensation decisions in India have shown great maturity. Given the ongoing underperformance of Indian equity markets over the past 12-18 months, it is natural that pay increases were lower last year. "Market volatility and downside risks have only increased recently due to the ongoing geopolitical risks. We do not expect any knee-jerk reactions from Boards and Remuneration Committees, and they are likely to change course depending on how domestic and external events unfold," said Anandorup Ghose, Partner, Deloitte India. Among CXOs, CFOs witnessed the highest ...

India's semicon market to reach $300 billion by 2035: Deloitte report

India's semiconductor market is projected to nearly triple to USD 120 billion by 2030 and reach USD 300 billion by 2035, driven by the exponential adoption of artificial intelligence (AI), automotive growth, and data centre expansion, according to a report by Deloitte. India, which currently imports over 90 per cent of its semiconductor needs, is poised for a structural shift as local production is expected to meet more than 60 per cent of domestic demand by the end of 2035, the report titled 'Technology, Media, and Telecommunications Predictions 2026' said. "India's semiconductor market is estimated at USD 4550 billion in FY202425 and has been growing at a CAGR of 20 per cent over the past three years. The market is predicted to reach USD 120 billion by 2030 and USD 300 billion by 2035, driven by AI, automotives, data centres, and electronics manufacturing. "By 2035, India is expected to host 45 silicon fabs, 810 compound fabs, 12 display fabs and 2025 OSAT facilities, supported by

India can emerge as key APAC data hub, must leverage renewables: Deloitte

India has the potential to emerge as a key data centre hub in the Asia Pacific region, provided it can resolve complex power and grid challenges and align renewable integration with rapid digital growth, according to a Deloitte report. While India accounts for nearly 20 per cent of global data consumption, it hosts less than 5 per cent of the world's data centres, underscoring significant headroom for expansion, said Debasish Mishra, Chief Growth Officer, Deloitte South Asia, dwelling on details of the report brought out at India AI Impact Summit. India, he said, has a "rare structural opportunity" to emerge as one of the world's leading data centre hubs. Structural advantages such as lower construction and land costs, competitive power tariffs and a large AI-skilled workforce position the country favourably. Policy support is also strengthening, with Budget 2026-27 proposing a tax holiday until 2047 for foreign companies offering cloud services globally from India, along with ...

India may attract $200 bn in data centre investment by 2030: Deloitte

Deloitte says India could see transformative data centre growth supported by policy and renewables, but warns that power supply, grid stability and planning gaps may constrain expansion

'Protect CAs, break Big Four dominance': Congress MP in Rajya Sabha

Congress leader Vivek K Tankha on Thursday in the Rajya Sabha demanded legal protection for chartered accountants and called for measures to break the dominance of four multinational audit firms in India, saying domestic CA firms need government support to compete. Raising the issue during Zero Hour in the Rajya Sabha, the Madhya Pradesh MP said Deloitte, PwC (PricewaterhouseCoopers), E&Y (Ernst & Young), and KPMG have mandates worth more than Rs 10,000 crore each, while nearly one lakh Indian CA firms have businesses that never cross Rs 10 crore. "I am voicing the concern of nearly five lakh chartered accountants who live in this country and work, and also more than four lakh who live abroad. They are the gatekeepers of our businesses. They are the crisis managers of our operationalised government policies," Tankha said. Highlighting the critical role CAs played in implementing policies like demonetisation and GST, he said: "The ministers may announce, but it is the CAs who .

FY27 Budget should support MSME exports, fund critical minerals: Deloitte

The FY27 Budget should look at measures like supporting MSMEs through export credit and concessional financing, as well as funding exploration of critical minerals to enhance trade resilience and reduce external vulnerabilities, Deloitte India has said. In its Budget expectation, Deloitte said that MSMEs account for 46 per cent of India's exports and are the second largest employer after agriculture. Easing financial and compliance pressures will help these enterprises navigate global volatility, sustain production and remain competitive in international markets. "Strengthening MSMEs will safeguard jobs and drive inclusive economic growth, boost rural incomes and support India's ambition to become a global manufacturing hub," it said. Deloitte suggested a comprehensive training to improve the last-mile competitiveness of MSMEs and reduce compliance burden through simplified digital processes. It also suggested that targeted export incentives or enhanced duty drawback be provided t

India's GDP to grow at 7.5-7.8% in FY26, 6.6-6.9% in FY27: Deloitte

India is likely to clock a GDP growth of 7.5-7.8 per cent in the current fiscal, supported by festive demand and robust services activity, and moderate to 6.6-6.9 per cent in FY27 on a high base and persistent global uncertainties, Deloitte India said on Wednesday. For India, 2025 will be remembered as the year of "resilience" in domestic demand, decisive reforms in fiscal, monetary and labour policies, and recalibrations in trade policies. Real GDP grew 8 per cent in the first half (April-September) of the ongoing 2025-26 fiscal despite global headwinds such as trade disruptions, policy shifts in advanced economies, and volatile capital flows. Deloitte India expects full year GDP growth at 7.5-7.8 per cent for FY2025-26, supported by festive demand and robust services activity. Furthermore, growth may moderate to 6.6-6.9 per cent in FY2026-27, reflecting a high base and persistent global uncertainties, it said in a statement. "India's resilience is no accident. It stems from ...

Deloitte suggests import duty rationalisation in Budget to boost exports

Rationalising the import duty structure and increasing allocations in the forthcoming Budget would help boost domestic manufacturing and the country's exports, Deloitte India suggested on Tuesday. It also said reforms to the Special Economic Zone (SEZ) regime such as allowing domestic supply on a duty-forgone basis, easing sub-contracting norms and exempting value addition from customs duty along with a limited customs amnesty scheme would improve competitiveness and reducing litigation. The Budget for 2026-27 is expected to be presented on February 1. The consulting firm said that to give a sustained boost to India's exports, the Union Budget should build on the government's ongoing efforts to strengthen domestic manufacturing and enhance export competitiveness. "A key measure would be to further rationalize the customs duty structure - lowering duties on parts and components in sectors where India has achieved optimal manufacturing capacity, while increasing duties on finished .

Deloitte India launches AI-based tax research platform Tax Pragya

Deloitte has launched Tax Pragya, an AI-based tax research and summarisation platform trained on 1.2 million cases and Deloitte content to support income tax, GST and transfer pricing work

Deloitte to launch AI platform 'Tax Pragya' for faster client insights

Deloitte will this week launch an AI-powered platform 'Tax Pragya' to make tax research and insights accessible to its clients faster, a company official said on Sunday. Deloitte India Partner Sumit Singhania said Tax Pragya, which is set to be launched on December 9, has been built with direct and indirect tax-related data on over a million court cases and Deloitte's knowledge solution papers so that access to the insights is quicker and accurate. Tax analysts currently have to spend hours doing research on various court judgments before giving their feedback to clients. Tax Pragya will convert that time to just a few minutes and provide solutions from Deloitte's privately curated database, and not open source data. "Tax Pragya is an AI-powered tax, research and insight platform. It is enriched with two decades of Deloitte tax knowledge, perspective and jurisprudence. The goal is to move from a knowledge-intensive platform to an insightful platform. It's an agentic solution where w

Another Deloitte report accused of AI-made citations, this time in Canada

Fresh allegations of AI-made citations in a Canadian report deepen questions over Deloitte's evidence checks, weeks after similar issues surfaced in Australia

Consulting lessons from Deloitte’s cross-border advisory expert

In this Manager’s Mantra episode Seiji Ota, Partner, Deloitte, talks about M&As, tackling different management styles of companies forming a joint venture, opportunities and challenges in consulting

India's economy expected to grow at 6.7-6.9% in FY26 amid reforms: Deloitte

Deloitte India on Thursday projected India's economy to grow 6.7-6.9 per cent in the current fiscal amid buoyant demand and policy reforms. Indian economy grew 7.8 per cent in the April-June quarter of current fiscal. Deloitte India's 'India Economic Outlook' report forecasts a GDP growth between 6.7 and 6.9 per cent, averaging 6.8 per cent this fiscal year, up by 0.3 percentage points from Deloitte's previous forecast. This performance signals not just resilience but a renewed sense of India emerging stronger than most nations. Similar growth rates are expected in the subsequent year, but the range of variation remains broader due to uncertainties associated with trade and investment. The GDP growth forecast is in lines with the RBI which projected FY26 economic growth at 6.8 per cent. Growth is likely to be supported by buoyant domestic demand, accommodative monetary policy, and structural reforms, such as GST 2.0. Low inflation will contribute to spending as purchasing power ..

AI promises productivity, but it seems to be delivering mostly 'workslop'

News that Deloitte Australia will partially refund the government for a report sprinkled with apparent AI-generated errors has caused a local furor and spurred international headlines

Deloitte's AI fiasco: Why chatbots hallucinate and who else got caught

As Deloitte returns part of its fee for a flawed AI-assisted government report in Australia, the case spotlights how generative AI fabricates facts and how it's not the first time this has happened

Skipping annual health exams may cost Deloitte senior leaders up to ₹1 lakh

Deloitte has introduced a tough health mandate for senior executives and partners who must undergo annual health check-ups or face penalties up to ₹1 lakh