Mar. 17 – PriceWaterhouseCoopers India has announced plans to increase staffing levels to up to 10,000 accountants, tax specialists and auditors from the current 6,500 in the next two years.
PWC India Chairman Gautam Banerjee announced the move in an interview with the Financial Chronicle. He described India as “a vibrant economy, becoming more complex,” and stated his aim to grow the headcount and double staff numbers in its Kolkata shared services facility. The firm also intends to build three main global clusters – each of a similar size – in the United States, China, and India.
Chris Devonshire-Ellis, managing partner of Dezan Shira & Associates in India told India Briefing: “Although PWC’s move will make it harder for smaller firms to attract talent, overall the news of PWC’s expansion across India is positive. ”
“Some work still needs to be put in with the Institute of Chartered Accountants of India over the regulatory aspects of allowing foreign competition into India to improve the overall standard of accounting. PWC in the long-term will help India raise standards. That has to be a good thing for the nation as a whole as it begins its journey towards taking a larger slice of the global financial services pie,” he adds.
