Accounting giant Deloitte has set an ambitious target to quadruple its revenue from its India operations to $5bn by the year 2030.
Romal Shetty, the CEO for South Asia, in an interview with Indian news agency PTI, revealed the company’s aspiration to become the preeminent leader in professional services.
During FY23–24, Deloitte India’s revenue reached the Rs100bn milestone, a significant 30% increase.
“Our growth trajectory has positioned us as the country’s most rapidly expanding professional services firm. Our intermediate revenue goal stands at Rbs200bn by 2027, with sights set on $5bn by 2030,” Shetty told PTI.
Shetty highlighted that Deloitte India’s operations contributed 10% of the company’s global revenue increase and played a substantial role in 70% revenue growth in Asia-Pacific.
The company’s total global revenue rose by 3.6% to $67.2bn in the fiscal year ending 31 May 2024.
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By GlobalDataShetty further remarked: “The fiscal year 2023–24 was a disruptive one for us in the marketplace, with revenues hitting Rs100bn. Our goal is to lead the professional services sector, recognised for our exceptional quality, strong brand, focus on well-being and extensive scale. We strive to be a firm that is compassionate, high-performing and innovative.”
Additionally, Shetty noted a significant reduction in the attrition rate at Deloitte India, which fell from 29% to 13% in the 2023–24 fiscal year, a figure notably lower than the 20% average attrition rate seen across the ‘Big Four’ global accounting firms.
Last year, Deloitte India’s aggressive recruitment strategy led to the addition of more than 25,000 employees, bringing the total workforce to 120,000.
Recently, Deloitte Tax LLP and Tax Analysts, the non-profit publisher of Tax Notes products, have extended their partnership to ensure that the Tax Notes’ federal tax law library remains publicly accessible.
This collaboration, which began in 2021, has significantly enhanced tax policy transparency by providing easy access to a comprehensive collection of tax laws, regulations and key materials.
Since the initial agreement, the library has seen nearly 6.5 million page views, with a yearly growth rate of 90%.
