‘Deloitte to double its workforce in India’: Punit Renjen, Deloitte CEO

Deloitte’s expansion of workforce is expected to boost not only services to domestic customers but also those exported from India. Renjen said the decision is in part due to the talent arbitrage that India offers.

Professional services firm Deloitte will double its 55,000-strong workforce in India over two to three years to tap the talent pool India offers, Deloitte Global chief executive officer Punit Renjen said at the Hindustan Times Leadership Summit on Thursday.

Deloitte’s expansion of workforce is expected to boost not only services to domestic customers but also those exported from India. Renjen said the decision is in part due to the talent arbitrage that India offers.

“We have 55,000 individuals who serve the most prominent clients and government in India and the world from India. We have centres in Hyderabad, Gurgaon and Pune that serve the world. Our plan over the next two to three years is to double that workforce. It is partly because of the talent arbitrage opportunity,” he said.

Deloitte Global refers to Deloitte Touche Tohmatsu Ltd, its global network of member firms and their related entities though each of them are legally separate and independent entities. Deloitte operates in about 150 countries with more than 300,000 professionals.

Renjen said global business leaders do see India’s potential as they rework their business strategies for the new normal created by the pandemic. “This is the Indian century. Many are bullish about India,” he said, referring to the talent pool and demographic dividend India has. “Every business and chief executive officer I speak to are going to reassess and re-engineer their supply chains. It is an opportunity for India. India aspires to be a $5 trillion economy. We are certainly fully on board with that notion. I think it is an opportunity for India to get some of the supply chain to relocate to India,” said Renjen.

Though 2020 has been a miserable year for nations, the global community, society and individuals, the world is adapting to suit the new environment. The pandemic has disrupted business but there has been a silver lining — there is a better way to address the issues including climate change, he said.

Deloitte is evolving a hybrid model of online and offline working practices. “We have 800 offices globally in 150 countries. Will we need 800 offices? Probably not. Will 300,000 people work remotely? No. But we will work in a hybrid way. The pandemic has fundamentally changed the way we work,” he said.