Jamshedpur boy Manoj Singh is the Global Managing Director of Operations at Deloitte Touche Tohmatsu, one of accounting's Big Four worldwide. An IIT Kanpur alumnus, Singh has been with Deloitte for 32 years. BT's SUMAN LAYAK caught up with Singh on his recent visit to India. Edited excerpts:
India will continue to be a hub for knowledge services. But it is also becoming an important destination for manufacturing. That is important as the working population is increasing and manufacturing creates jobs. Automobiles and precision technology are areas of growth. India is also a great investment destination for pharmaceuticals, health care, sustainability and green energy.
India versus China is not a relevant question for me. China has invested very well in infrastructure. You go into some of the tier II cities of China and you will see airports and roads that are better than those in the developed, mature markets. Along with excellent infrastructure and large-scale manufacturing, you find labour at lower costs in China. But private equity players still enjoy operating in India much more as entry and exits are much easier here than in China.
Our consulting business is worth $7 billion to $8 billion and this is significantly larger than that of some of the other consulting majors who restrict themselves to an area called "strategic consulting". We, on the other hand, do a lot of work on human capital. We have a wider footprint in the advisory space.
I am by no means the longest serving employee at Deloitte. There are quite a few with more than 35 years in the company. It takes a new entrant between 6 and 10 years to become a partner and after that you are free to decide what you want to do in the firm.