For a while now, global companies have been waxing eloquence about the innumerable business opportunities in India waiting to be tapped and waiting to be explored.
KPMG has decided to get a first hand view of the India story - the global board and KPMG's global council meetings are being held in India.
In an exclusive conversation with CNBC-TV18, John Veihmeyer, global chairman, KPMG International said he expects to see the headcount in India growing by 50% and the BPO expanding three fold within the next 3 years.
According to him India is a good story all the way roundd
Below is the transcript of John Veihmeyer's interview with CNBC-TV18's Shereen Bhan.
Q: How do you view the India story?
A: It is very important that our leadership in the countries all over the world understand the India story and there is no better way to convey that than to get them all here. Here, we are going to hear from a number of government officials, we are going to meet with clients and hear from our leadership here in our local practice about what those opportunities for investment are.
So what we will end up with at the end of this week is close to a 100 ambassadors within KPMG going back all over the world and when they meet with clients in their home country - talking to them about the opportunity that India presents for the entire world.
So, it is a great opportunity for the companies that we work with all over the world to be better informed about the opportunity here and it is also a great opportunity for our people to see firsthand what is happening.
Q: You said that last year India was your fastest growing market. Is it on course to be the fastest growing market this year as well and what does that mean in terms of the kind of headcount that you are looking at - I believe between your Business Process Outsourcing (BPO) operations and your main operations you are about 13,000 people here in India. What more can we expect in terms of hiring this year?
A: It is a good story all the way round. When the India firm, when the India practice achieves its goal and its plan for this year it will again be our fastest growing practice. I expect that to continue for several years.
Since that is our outlook for India it creates an environment where we are highly motivated to continue to invest aggressively as a firm into our practice here in India and that manifests itself both in terms of headcount.
So our BPO practice, we expect to at least double that over the next three years, in terms of number of employees working in that BPO centre and in terms of our primary practice here in India, again, we expect to see significant growth probably a 50 percent increase in headcount over that same three year period.
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