Davos 2023: This Century Belongs To India, Says Deloitte India CEO N Venkatram
Stability and predictability is required for India to become a fertile ground for foreign investments, according to Deloitte.
The century belongs to India as immense growth lies ahead for the country, Deloitte India Pvt.'s Chief Executive Officer N Venkatram said.
"Indian CEOs are very optimistic," Venkatram told BQ Prime's Niraj Shah, on the sidelines of the World Economic Forum on Tuesday.
"I rely more on individual conversations as well and the vast majority believes that this is India’s century. There is a lot of growth ahead of us," he said.
Stability and predictability is required for India to become a fertile ground for foreign investments, according to Joe Ucuzoglu, the global CEO of Deloitte Ltd.
"They should know they are operating in an environment where the rules are not gonna change overnight," Ucuzoglu said.
According to Ucuzoglu, the government cannot impose tax laws and policies retroactively. He underscored that investors "want peace and geopolitical stability" with no disruptions to their supply chains.
Ucuzoglu said the country was maturing as a professional services market at an accelerated pace. "We are incredibly bullish on India."
The Big Four accounting firm is advising its customers to prepare for a range of scenarios as geopolitical shocks and fears of economic slowdown continue to persist.
Ucuzoglu said companies should go through the exercise of understanding what are the different ways global scenarios might play out and ensure readymade plans in place for each of them.