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PwC India to invest ₹1,600 cr, create over 10,000 jobs

Our Bureau Bengaluru | Updated on August 11, 2021

Will increase focus on existing tech-led alliances, explore avenues in emerging technologies

Global consultancy firm PwC India, on Wednesday, said in a statement that it will invest up to ₹1,600-crore and create over 10,000 additional jobs over the next five years.

Sanjeev Krishan, India Chairman, PwC, said the consultancy firm, as part of the commitment towards the country, a large proportion will come in the areas of digital, cloud, cyber, analytics and emerging technologies.

This is a part of PwC’s initiative called The New Equation, a new approach in how the firm sees opportunities to serve clients as they work to build trust and deliver sustained business outcomes to their stakeholders.

“India has strong economic fundamentals, a huge advantage in the form of its demographic dividend and an ecosystem to boost innovation. Our new strategy will enable us and our clients to further the country’s economic development, harness the potential of the domestic market and create more opportunities for society at large,” said Krishnan.

Ambitious goals

The consultancy firm will focus on four platforms - ESG, Deals, Risk and Regulatory and Transformation, and will increase the focus on existing tech-led alliances and explore avenues in areas of emerging technologies.

The consultancy firm also said it will increase campus hiring by over five times, work towards a minimum of 40 per cent gender diversity, continue to spend at least 1 per cent of its revenue in upskilling people and partners, set up a PwC Research Institute to assist clients in identification of emerging trends across sectors, and increase focus on entrepreneurial and private businesses, including unicorns and start ups

The New Equation is based on an analysis of trends and thousands of conversations with clients and stakeholders. This refreshed strategy speaks to the two most fundamental needs clients and organisations are grappling with today. First is the urgency to successfully respond to and change in the face of the major shifts shaping the world: technological disruption, the risks of climate change, fractured geopolitics, social tension, and the continuing effects of Covid-19.

Second is the need to build trust at a time when it is both more fragile and more complicated to earn. The two are interdependent, and PwC India with its continued investments in its people and capabilities is uniquely positioned to deliver trust and sustained outcomes to its clients, added the statement.

“The fractured and disrupted world around us calls for fresh thinking, a new approach, and revisited priorities. With our new strategy, we will relentlessly focus on helping our clients, people and all stakeholders create the virtuous circle between earning trust and delivering sustained outcomes necessary to succeed in this changed world,” said Krishnan.

Through the PwC India Foundation, employees will spend over 100,000 hours volunteering skills to support India’s humanitarian, environmental and educational challenges. We will continue to address the needs of communities, across the length and breadth of the country, in a way that is meaningful and creates lasting and sustainable long term impact.

PwC’s approach to building trust is designed to meet rising expectations of transparency and stakeholder engagement. It combines multidisciplinary expertise with an expansion of specialist capabilities including cyber security, data privacy, ESG and Artificial Intelligence. It recognises that reporting and compliance are just one link in a chain that includes organisational culture, executive mindset, aligned standards, certified professionals, stringent controls, tailored technologies, and appropriate governance, the statement said.

Published on August 11, 2021

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