The following article is an initiative of KMPG India and is intended to create awareness among readers
The Indian economy is one of the fastest growing economies in the world and the country is taking giant strides to further improve its positioning across the globe.
As per a report by KPMG, India has been recording the highest growth rate among the BRICS economies and is likely to grow higher than most of the advanced economies in the world.
The sustained growth is a reflection of effective policies, reforms and their robust implementation. Various initiatives such as the Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC), etc., have accelerated the growth of Indian economy.
“It (GST) was an ambitious undertaking and had to be undertaken fairly quickly. Now, we all are well over the teething problems and results are here to see. Revenues have risen significantly, logistics have improved enormously and what would take several days, now just takes a couple of days of moving things across the country,” said Arun M. Kumar, Chairman& CEO, KPMG in India.
It doesn’t stop here. India’s push for good governance and transparency has led to building robust markets and bullish growth.
“Good governance is important for robust capital markets. The institutions that have been set up in India are already set up on basis of very high standards of governance. Now, they need to get implemented and constantly improved. Major advances are happening over time” said Kumar.
Speaking about the road to 9% growth, Kumar said the sentiments are positive and confidence is soaring high.
“GST will add one or two points to our growth. Leaders of businesses are looking at robust growth, they are looking at double digit growth. In general, the mood of corporate India is very bullish in terms of growth,” he said.
KPMG has contributed in India’s growth significantly and has witnessed the country achieving various milestones.
“KPMG India has grown with the Indian economy. We’ve helped contribute in a modest way to the Indian economy. We helped in bringing global companies in India, serve them in India. I just see a lot more is happening,” he said.
KPMG, which is completing its 25 years in India, has gone through landmark changes itself. They have now grown to a strength of 25, 000 employees in India, the second largest workforce globally
The consultancy and advisory firm’s big focus on their employees has proven beneficial to the company.
Unmesh Pawar, Partner & Head (People, Performance & Culture) said, “We must create and sustain an environment which encourages our colleagues to give their best each and every day that they are here. A large part of this to come alive is about our culture and to be able to have a culture that fosters teamwork, collaboration, trust and innovation.”
He further added at “KPMG’s hunger, drive and inner fire to produce results and achieve success for clients is key. What we do and how we do it defines the KPMG brand, and defines who we are and a word that captures this entire zeal and enthusiasm is JOSH. We are not another firm, we are exuberant and exciting” Watch out for more action around #KPMGJosh #KPMGIndia25KPMG’s top goals are to keep continuing working as a team and serve the ever-evolving needs of its clients. The firm has been making a difference since 25 years and they are committed to continue the trust.