Sudipta Ghosh, Leader, Data and Analytics, PwC India
‘Big Decisions’ are getting increasingly complex for organisations. Are organisations using data or are they mostly relying on their experience for taking these big decisions? More importantly, even if CXOs are taking data driven decisions, are they using advanced analytics for getting more confident about the decision making process. How does Indian organisations fare against their global counterparts?
Rahul Lalit, Partner, Forensic Services, PwC India
With the increasing number of cases of bribery and corruption, the past couple of years have witnessed the globalisation of anti-bribery regulations, with various countries implementing stricter enforcement actions. In India, with the introduction of the Lokpal Bill, 2013, and the proposed amendment to the Prevention of Corruption Act (PCA), 1988, measures are clearly in place for the penalisation of prohibited and unethical business activities.
Pratik Jain, Partner and Leader, Indirect Tax, PwC India
Consensus on rates of GST is a welcome move and with this the Government seems to be set to push for April 1, 2017 as the date of implementation. While multiple rates may not in line with classical GST system, this seems to be the only practical solution as of now.
Deepankar Sanwalka, Advisory Leader, PwC India
Jawaharlal Nehru had once said, ‘Every little thing counts in a crisis.’ And that rings true time and again.
Take, for instance, natural disasters, cyberattacks, infectious diseases, market collapses, product recalls, regulatory violations, brand and reputational attacks. Whenever any of these occur, 'business as usual' takes a backseat while firefighters jump in.
Dhruv Chawla, Partner, Forensic Services and Dhritimaan Shukla, Director, Forensic Services
With the rise in the use of interconnected devices and proliferation of data, cyberterrorism has become a reality in today’s world. According to the US Federal Bureau of Investigation, cyberterrorism is any ‘premeditated, politically motivated attack against information, computer systems, computer programs, and data which results in violence against non-combatant targets by sub-national groups or clandestine agents’.1
Dinesh Anand, Partner, Forensic Services Leader, PwC India
In recent times, corporate India has witnessed a steady increase in the number of security breaches, crises and incidents. According to the PwC’s Physical Security Environment Survey 2016, 73% of the respondents felt that the number of security incidents had increased in the past two years and that they would continue to do so in the next two years. The rising threat of terror attacks, natural disasters and incidents of social unrest have been causing considerable alarm in major cities across the world. Whether it was the Chennai floods of 2015 or terror attacks in Brussels this year, the devastation from such incidents has been disrupting businesses across communities and countries. While we have very little control over natural occurrences (floods, earthquakes etc.), we do have control over the ways we can safeguard our businesses and people against them.
Frank D’Souza, Partner and Leader, Entertainment and Media, PwC India
PwC has been publishing the Global entertainment and media outlook for the last 17 years. In the current year, we have covered 54 countries which houses potentially 5/6th of the world’s gross domestic product (GDP). Our Outlook covers a running period of five years, and shows a prediction of the global entertainment and media (E&M) market size growing from 1.7 trillion USD at the end of 2015 to 2.1 trillion USD by the end of 2020 at a CAGR of 4.4%. As against this, India is expected to grow at a CAGR of 10.3%, from a market size of 25.1 billion USD to 41.1 billion USD over the same period.
Pratik Jain, Leader, Indirect Tax, PwC India
Things continue to move at a rapid pace on the GST front. It is encouraging to see that within four days of the assent of the Constitution Amendment Bill by the President of India, the government has approved the setting up of the GST Council and the first meeting of the GST Council is to be held within 10 days of the Cabinet approval.
Ranen Banerjee, Partner and Leader, Public Finance & Economics, PwC India
There was no other way to go but maintain status quo in the monetary policy announcement made by RBI. The inflationary pressures are weighing on growth with RBI’s inflation-targeting policy mandate. But, the perplexing situation on prices is the huge gap between wholesale and retail inflation which indicates that the price changes at the level of inputs are not getting reflected in the prices of final consumable products.
The opinions expressed in the blogs are personal.