Deloitte

Deloitte on Thursday projected economic growth at 6.5-6.7 per cent for the current fiscal, as tax incentives provided in the Budget are expected to push domestic demand amid an uncertain global trade environment. Deloitte estimated India's GDP growth at 6.3-6.5 per cent for FY25 and said that the economic outlook for FY26 hinges on a delicate balance between evolving trade relations and government efforts to boost domestic consumer demand. "Growth this fiscal will be contingent on two opposing forces," said Deloitte's India Economy Outlook. The first factor would be the positive impact of tax incentives aimed at growing consumer spending (as announced in the Union Budget 2025). The second and opposing force would be the potential negative impact of uncertainty in global trade networks on the Indian economy. "The interplay of tax stimulus and trade uncertainties could keep growth between 6.5 per cent and 6.7 per cent for the current fiscal year," it added. The government in the FY2

VerSe Innovation said Deloitte identified weaknesses in internal controls but confirmed the issues did not affect its opinion on the company's consolidated financial statements

US Defense Secretary Pete Hegseth estimates the Pentagon will save nearly $4 billion from the terminated IT and consulting contracts deemed non-essential

Indian consumers are willing to share personal information with manufacturers or third parties for features such as anti-theft tracking, reflecting rising trust in data-driven solutions, according to the findings of a global study conducted by Deloitte. As per the 2025 Global Automotive Consumer Study, which saw participation of 1,000 people, 88 per cent of the Indian consumers were willing to share personal information with manufacturers or third parties for features such as anti-theft tracking. The percentage is significantly higher than 60 per cent in the US, the survey revealed. This signals a rising trust in data-driven and intelligent mobility solutions, it added. Indian customers are also optimistic about tech, with 82 per cent of the people surveyed viewing AI as beneficial, and they prioritise vehicle-smartphone connectivity, as per the study. In India, 62 per cent of consumers surveyed rank product quality, including safety, as their top priority when choosing their next

India is emerging as a global leader in Agentic AI adoption, with over 80 per cent of businesses actively exploring the development of autonomous agents, a Deloitte report says. Autonomous agents are AI systems that can act independently to achieve specific goals without constant human guidance. Agentic AI refers to the broader concept of using these agents to automate tasks and processes. The growing interest in this technology reflects a significant shift in how Indian organizations are leveraging AI for innovation and efficiency. The findings are part of Deloitte's State of GenAI (Fourth Wave) report, which provides an India-specific perspective on the adoption of Generative AI (GenAI) and Agentic AI. "Over 80 per cent of Indian organisations are actively exploring the development of autonomous agents, indicating a substantial shift towards Agentic AI," the report said. The report also highlighted the increasing focus on multi-agent workflows, where sub-agents collaborate under

GCCs in life sciences and healthcare have grown across India, with Bengaluru, Hyderabad, and Chennai emerging as key hubs

Appellate tribunal NCLAT has dismissed petitions by Deloitte Haskins and Sells and its two associates, challenging the admissibility of the second interim investigation report by the Serious Fraud Investigation Office (SFIO) on Infrastructure Leasing and Financial Services (IFIN). The petitions also contested the compilation submitted by the government (MCA) to the tribunal. The compilation included documents related to the IFIN investigation report and the amended request regarding the proceedings against them to freeze their assets based on the second interim report by SFIO. A two-member bench of the NCLAT upheld an earlier order issued by the Mumbai Bench of the National Company Law Tribunal. On July 22, 2024, the tribunal ruled that the second interim SFIO report, along with the accompanying documents, could be considered for both interim relief and the final declaration. "We, thus, are of the view that the second SFIO Report as well as the compilation of documents filed by th

Sports technology market in India, comprising apps, devices, sensors etc, are expected to grow by 85 per cent to Rs 49,500 crore in the next four years, a joint report by fantasy games body FIFS and Deloitte said on Thursday. The report estimates that India's sports-tech market generated Rs 26,700 crore in revenue in the financial year 2024 and is projected to grow at a compound annual growth rate (CAGR) of 13 per cent by FY'29. "India's sports technology ecosystem is at an inflection point, with the market projected to grow at a 13 per cent CAGR to Rs 49,500 crore by FY'29," Deloitte India, Partner, Prashanth Rao said. He said that the advent of digital technologies are not only providing data for enhanced athlete performance but is also creating immersive fan experiences, leading to increased multi-sport following across demographics and opening newer avenues of business and business-led collaboration "Fantasy Sports continues to be a key driver in this evolution, fostering deepe

Deloitte India and MEGA, a Bizzdesign company, on Thursday announced a strategic alliance geared to help Indian enterprises strengthen their enterprise architecture and drive digital transformation. By combining Deloitte's Advice-Implement-Operate (AIO) capabilities with MEGA's 'HOPEX platform', the collaboration would look to address the complexities of modern IT landscapes, including managing legacy infrastructure, adopting emerging technologies and overcoming silos across organisations. According to a release, the HOPEX platform integrates strategic planning, process optimisation and Governance, Risk and Compliance (GRC) management into a unified framework. This enables organisations to manage their IT environments more effectively, make informed decisions and navigate regulatory requirements better. "The collaboration will deliver scalable, adaptable solutions that streamline processes, enhance collaboration and reduce operational inefficiencies," the release added.

Consulting firm Deloitte India has welcomed the government's approval to Rs 16,300-crore National Critical Mineral Mission stating that it is well-timed and signals a commitment to strengthen energy security in the face of global uncertainties. "The Cabinet's approval of the National Critical Mineral Mission, accompanied by a significant financial outlay, is a major step forward for India's energy security. Given the country's vulnerability to geopolitical shifts surrounding critical minerals, this mission addresses a key area of concern. It is a well-timed and highly welcome move by the government," Rakesh Surana, Partner, Deloitte India, said in a statement. What stands out most about this initiative is its holistic approach that covers the entire value chain. The focus is not just on the exploration of critical minerals, but also on crucial elements such as processing and recovery from end-of-life products, he said. "This multi-faceted approach will likely drive significant ...

The government in its coming Budget must extend fiscal benefits under the PLI (production linked incentive) scheme to sectors such as handicrafts and leather that can create more jobs, Deloitte said on Sunday. It also suggested that the existing PLI schemes must continue in sectors that have seen success, such as electronics, auto and semiconductors. The government in 2021 announced PLI schemes for 14 sectors, including telecommunications, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma, with an outlay of Rs 1.97 lakh crore. Deloitte further suggested that to improve global liquidity (once the Western central banks start easing their monetary policies), the government can raise the ceiling for investment size and remove location restrictions to attract more foreign investment. "Multi-brand retail and e-commerce are some sectors that may benefi

Deloitte India on Tuesday projected India's GDP to grow at 6.5-6.8 per cent in the current fiscal and said India will have to adapt to the evolving global landscape and harness its domestic strengths to drive sustainable growth. In its Economic Outlook report, Deloitte India also said the country needs to decouple from global uncertainties and harness its domestic potential. Despite global and domestic challenges, India is moving up the global value chains, as highlighted by the rising share of high-value manufacturing exports, particularly in electronics and machinery and equipment. Deloitte India, in its latest Economic Outlook, has revised its annual GDP growth projection for FY2024-25 to 6.5-6.8 per cent, with expectations for 6.7-7.3 per cent in the following year. The adjustment reflects the need for cautious optimism as the economy navigates rising global trade and investment uncertainties. In its Economic Outlook report in October, Deloitte India had projected the country's

The government could reduce customs duty on inputs used in manufacturing medical equipment, electronic goods and footwear industries in the forthcoming Budget to boost local manufacturing, according to tax experts. Deloitte India Partner, Indirect Tax, Harpreet Singh said key demands from the Customs side from the 2025-26 Budget, to be tabled in Parliament on February 1, would be rate rationalisation, simplification of the regime, and litigation and dispute management. "In the lines of the phased manufacturing plan, we expect some duty cuts in raw materials in electronics, home appliances, healthcare products, and pharmaceuticals. These are the industries where the government wants to give impetus in terms of manufacturing, and hence, we will see the raw materials declining in these sectors," Singh told PTI. On the proposed Customs duty rationalisation announced in the Budget in July 2024, Singh said the sectors which could see rationalisation are healthcare, manufacturing of medica

The Budget 2025-26 should announce a PLI scheme for R&D to attract foreign companies and make India a global hub for innovation, said Deloitte India Partner (Direct Tax) Rohinton Sidhwa. He said the government has been pursuing a policy wherein tax holidays are less and more focus is on Production Linked Incentive (PLI) or other schemes which promote investment and employment. "We need to push India as the R&D lab of the world and if there can be such a policy which stimulates that, like PLI for R&D which includes foreign companies, that could be a game changer," Sidhwa told PTI in an interview. The Budget for 2025-26 will be presented in Parliament on February 1. Sidhwa said that one area which the government needs to look at is how to stimulate innovation and reward R&D spending and that would happen only when the country is able to attract global R&D centres into India. "If we can develop our own R&D, we are less reliant on developed world for technology and

The Indian arms of Deloitte, PwC, EY, and KPMG outpaced their global counterparts in FY24, driven by booming demand for consulting services, with revenue set to surpass Rs 45,000 crore by FY25

Indian economy is likely to grow at 6.5-6.8 per cent this fiscal and slightly higher between 6.7-7.3 per cent in FY2026, boosted by domestic consumption, Deloitte said on Sunday. Deloitte India Economist Rumki Majumdar said the growth in the first half of the fiscal year 2025 turned out to be slower than estimated as election uncertainties followed by disruptions in activity due to heavy rainfall and geopolitical events weighed on domestic demand and exports. However, India continues to show resilience in certain pockets that are worth noting -- be it in consumption trends, services growth, the rising share of high-value manufacturing in exports, or the capital market. The government's continued focus on infrastructure development, digitisation, and attracting FDI will be the additional growth booster, enhancing overall efficiency. "We remain cautiously optimistic and expect the growth rate to remain between 6.5 and 6.8 per cent this fiscal year and slightly higher between 6.7 and

India has the potential to be a key producer of sustainable aviation fuel by utilising its ethanol supplies and availability of lipids feedstocks like non-edible industrial oils, according to a senior official at the global airlines' grouping IATA. With decarbonisation in focus, efforts are being made to reduce emissions and over the years, Indian carriers have operated some flights with a blend of Sustainable Aviation Fuel (SAF) and traditional Aviation Turbine Fuel (ATF). Hemant Mistry, Director of Net Zero Transition at the International Air Transport Association (IATA), said the ecosystem for SAF has developed but there is more work to be done. "There are some very good opportunities for India right now. One is in terms of SAF feedstocks like agricultural waste... there is a growing understanding on what to do for SAF production. We are talking to a number of companies to understand how we can collaborate... oil companies," Mistry told PTI in a recent interview in Geneva. The .

As many as 92 per cent of Indian executives view security vulnerabilities as the foremost challenge to responsible AI adoption, highlighting a pressing need for robust governance frameworks to foster trust and mitigate risks in an increasingly AI-driven landscape, according to a recent report by Deloitte. The 'AI at a crossroads: Building trust as the path to scale' report by Deloitte Asia Pacific, which surveyed 900 senior leaders across 13 markets revealed that while enthusiasm for AI is high, significant barriers remain. "...about 92 per cent of Indian executives identify security vulnerabilities, including hacking and cyber threats, as a primary concern in AI adoption, while 91 per cent express significant concern about the privacy risks related to sensitive data in AI usage. "Additionally, 89 per cent highlight complexities resulting from regulatory uncertainties, citing evolving compliance requirements as a challenge towards AI integration," it said. The urgency for effective

A vast majority of income tax filers want simplified ITRs for individuals, easier way for computing incentives and deductions, and simplification of TDS framework for 'one rate one section', a Deloitte survey said on Wednesday. Deloitte's Income-Tax Policy Survey also suggested doing away with the requirement of issuing Form 16A as the TDS information is already reported and available in the Form 26AS and AIS of the recipient. The survey also suggested limiting the number of sections with regard to withholding tax, classifying payments into two-to-three distinct and non-overlapping categories, and ensuring that each section has only one rate, which will significantly reduce the burden of compliance without any major loss in tax collections from a tax administrative perspective. For example, 1 per cent TDS on tangible goods, 2 per cent on services, 0.1 per cent on e-commerce transactions, and 10 per cent on other transactions such as dividend and interest. The Income Tax Policy Surv

Japanese firms are keen to set up semiconductor units in India and they have all the expertise and specialisation to partner with domestic firms, Deloitte has said. It also said that skilled workforce, funds and continuation of support measures are key to push growth of the semiconductor sector in India. Japanese firms are "super enthusiastic" about India, Shingo Kamaya, Deloitte AP and SRT Leader, Deloitte Japan said. In July, Japan became the second Quad partner after the US to sign an agreement with India for the joint development of the semiconductor ecosystem and maintain the resilience of its global supply chain. The two countries signed the memorandum for semiconductor design, manufacturing, equipment research, talent development and to bring resilience in the semiconductor supply chain. With around 100 semiconductor manufacturing plants, Japan is among the top five countries to have a semiconductor ecosystem. Japan houses companies that are global leaders in raw form of .