KPMG India CEO Richard Rekhy
While the market is challenging, it has also got a huge opportunity in the space of advisory
, consulting, technology, supply chain, cost optimisation, ERP implementation and forensics.
We are also exploring opportunity outside India. Two years ago, we started overseas operations. We have operations in Africa, Philippines and Indonesia, and more recently, we have started working with Australian firms in the telecom industry. Today, we are working in 18 countries in Africa.
We have got one of the best telecom teams within KPMG. The big advantage of working in overseas is recovery rate or fees, which is far better than in India.
It is turning out to be a very profitable business for us. This also offers opportunity to our employees to work overseas.
Today, KPMG is a very strong brand in India as far as audit is concerned. We are also the youngest amongst the big four- Ernst & Young, PricewaterhouseCoopers and Deloitte.
Young partners and employees is a big advantage for us. We are number three among the big four firms.
We would complete 20 years next year in India. Our strength is advisory services. We have the largest advisory services among the big four. I was earlier running the advisory division, which contributed to almost 50 per cent of the firm's revenues. We have made it big in the last six to seven years in the advisory space. Nearly, 3,500 employees out of total 7,000 staff are employed in the advisory division.
In advisory, we are growing by more than 20 per cent because of difficult market conditions.
The division was earlier growing at more than 40 per cent.
On the tax side, we have already seen huge growth. We are growing on an average almost more than 30 per cent in this sector. A current acquisition in this segment will further strengthen our lead. This would translate into revenues over the next one to two years.
Today, sentiments in the economy are improving post the reforms announced by the government. We see lot of consulting work coming our ways.
In fact, another area which is of big interest is that Japanese companies are exploring India as investment destination. We have got dedicated partners working in the area of Japanese-India corridor i.e. Delhi-Mumbai Freight Corridor (DMRC).
CEO, KPMG INDIA(As told to Business Today)