Global

The Indian economy 

With faster growth than almost any other country, India is compelling attraction for investors and equally for professionals.
The Indian economy
India’s GDP grew by 8.5 percent in 2006, and grew again, by the same figure, in 20071. And while the global economy is slowing considerably, India’s economy by contrast is forecast to cool only marginally and still hit 7 percent growth over the next 2-3 years .
"Business in India is robust – we feel on a safe wicket.”
Girish, Partner, Tax

There is a wide range of well-established markets in India, and though financial services are currently among the most vulnerable of sectors on the global stage, in India this sector is in very good shape – and some of its biggest players are on the client roster at KPMG in India.
Fact: India's banks are well-capitalized and well-regulated, there is no domestic bad-loan crisis, and Indian banks have only a marginal exposure to overseas credit markets.3
Sector activity is concentrated in each region of the country – Bangalore is India’s Silicon Valley, Mumbai is the capital of finance, Delhi has manufacturing and government strengths, and Pune has well established IT and automotive activity.

Almost every global organization has a presence in India, and Indian companies are expanding in other parts of the world, notably acquiring some of the world’s most prestigious brands, such as Tata’s acquisition of Jaguar Land Rover. The Fortune Global 500 now contains seven Indian corporations – more than Russia or Taiwan. Private equity funds and venture firms are also investing billions of dollars in India.
Fact: In the second quarter of 2008, venture firms invested US$238 million in 17 deals in India, a 120 percent jump from the comparable period a year ago and the second-highest quarterly total on record.4
Organizations globally are facing a different set of challenges as liquidity dries up, and as India’s growth story continues, KPMG is extremely well placed to capitalize on the next moves in this vibrant economy.
Fact: India received about US$19.5 billion worth of private equity investment in 2007 – almost 2.5 times that in 2006 – compared to $12.8 billion for China.5

Fact: In 2007, US$17.13 billion was invested across 339 deals, making India one of the top seven PE investment destinations in the world.6


Sources:
1. "The World Factbook: India", cia.gov, accessed 12-Dec-2008
3. "Economist Intelligence Unit Briefing: India and the credit crisis", economist.com, accessed 12-Dec-2008
4. "Venture Money Flows in India and China", businessweek.com, accessed 12-Dec-2008
5. Four-s Services
6. Asian Venture Capital Journal Vol.21 No.1
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