India was hit by the extraordinarily virulent Delta pressure of Covid. However, the country remains a great holiday destination for long-term global clients, according to Deloitte’s global CEO Punit Renjen.
“Over the long arc of time, and the long investment horizon, India is a very attractive destination. And it is attractive because the fundamentals are attractive: the talent pool, the demographics, the consumer base, the democratic tradition,” Renjen, who was born in India, revealed it in an interview.
Even though India appears to be struggling to cope with the aggressive second wave, global businesses like Deloitte have not changed their investment plans.
Over the next few years, Deloitte plans to increase its presence in India. Deloitte is also planning to hire between 75,000 and 100,000 more workers, according to Renjen.
“I think the numbers on the second wave are coming down drastically, which is a very positive sign. We should hope that the third wave doesn’t come, but we must prepare for it,” he said.
Renjen, who has led a large firm like Deloitte through the Black Swan event, believes that the return-to-normalcy path for businesses might be a three-step process. He explained, “The way to look about it is on a continuum, the first thing you have to do is respond. The second is how you begin your recovery. The next point to consider is how you set up the process to succeed. As a result, react, recover, and thrive.”
