News

India`s fabric care category to grow at 7%, outperform global market India's fabric care market is projected to grow from Rs 521 billion in 2022 to Rs 639 billion in 2025, with liquid detergents expected to dominate this market and lead in new product launches, according to Mintel’s consumer research report. Mintel pegs the India laundry care market to grow at a compounded annual growth rate of over 7 per cent, outperforming the growth forecasted for the global laundry care market at 4.28 per cent between 2022 and 2027. According to a report by...
India`s fabric care category to grow at 7%, outperform global market
India`s fabric care category to grow at 7%, outperform global market
Source: IANS
8/08/2023 1:59:13 PM
India taking alternate road to ESG reporting - KPMG global audit head India is taking an alternate approach towards disclosures norms related to environmental, social and governance (ESG) metrics compared to some other global economies, said a senior executive at KPMG. India's market regulator on Wednesday mandated that the top 150 listed companies by market capitalisation would have to give "reasonable assurance" on ESG metrics starting this financial year. That would mean a company's auditor would check its ESG metrics and disclosures,...
India taking alternate road to ESG reporting - KPMG global audit head
India taking alternate road to ESG reporting - KPMG global audit head
Source: Reuters
14/07/2023 5:27:29 PM
Global accounting firms set up shop in India`s smaller cities  The world's major accounting firms are stepping up investments in new Indian facilities away from bigger cities as global demand for cheaper back office operations grows and smaller towns move up the economic value chain. For decades, large multinational corporations have rushed to India's biggest metropolises, chiefly Mumbai, Delhi and Bengaluru, to set up massive operational centres that employ millions, lured by vast, low-cost talent pools, particularly in IT. Business ...
Global accounting firms set up shop in India`s smaller cities
Global accounting firms set up shop in India`s smaller cities
Source: Reuters
12/07/2023 9:57:21 AM
Global VC market falls to $57.3 bn in Q1, expected to remain weak in Q2 Global VC investment sank from $86 billion across 9,619 deals in Q4 2022 to $57.3 billion across 6,030 deals in Q1 2023 as major uncertainties in the market showed no sign of waning, a report showed on Friday. Every region saw VC investment fall to levels not seen in years during Q1 2023. The $33.1 billion raised in the Americas was the lowest level since Q1 2018, while the $9.8 billion raised in Europe was the lowest since Q3 2018, and the $13.5 billion raised in Asia was the lowest si...
Global VC market falls to $57.3 bn in Q1, expected to remain weak in Q2
Global VC market falls to $57.3 bn in Q1, expected to remain weak in Q2
Source: IANS
21/04/2023 2:28:18 PM
Accounting firm EY calls off plan to break up auditing & consulting units Accounting firm EY has called off its plan called 'Project Everest' to break up its auditing and consulting units, BBC reported. The firm, formally known as Ernst & Young, announced they were "stopping work on the project" because it's US arm decided to not to move forward, BBC reported. The Big Four -- Deloitte, EY, KPMG and PwC -- dominate the global accounting market share. The plan came as regulators called for major industry reforms over conflict of int...
Accounting firm EY calls off plan to break up auditing & consulting units
Accounting firm EY calls off plan to break up auditing & consulting units
Source: IANS
12/04/2023 1:02:28 PM
India expected to be one of the major beacons of economic growth India is expected to be one of the major beacons of economic growth in the calendar year 2023, driven by strong domestic demand and government expenditure, said KPMG in its Global Economic Outlook report. This despite a sluggish growth of 4.4 per cent during the last quarter of calendar year 2022 as compared to 6.3 per cent in Q3 2022, the report said. "The efforts of the Union Budget 2023-24 to improve the disposable income of taxpayers in the country is expected to boost consumpt...
India expected to be one of the major beacons of economic growth
India expected to be one of the major beacons of economic growth
Source: IANS
29/03/2023 9:25:17 AM
Global tech industry, supply chain disruptions continue amid recession fears The war in Ukraine and the sanctions against Russia will continue to disrupt the global tech industry and supply chain in the near future. According to market research firm GlobalData, technological sanctions against Russia will continue to increase. The UK has so far issued 1,123 new sanctions against Russia since the outbreak of the war, adding to the 215 already imposed. The war has also contributed to market uncertainties, leading to high interest rates, a deepening funding winter, ...
Global tech industry, supply chain disruptions continue amid recession fears
Global tech industry, supply chain disruptions continue amid recession fears
Source: IANS
19/02/2023 9:47:57 AM
Global fintech investment nosedives in 2022, payments space shows top growth The global fintech market attracted $164.1 billion across 6,006 deals in 2022, falling from the high of $238.9 billion across 7,321 deals in 2021, a report showed on Friday. Payments space remained the strongest fintech sub-sector globally, attracting $53.1 billion in total investment, according to KPMG's 'Pulse of Fintech H2-2022' report. The sharp drop-off in fintech investment between the first half of 2022 and the second half -- from $119.2 billion to $44.9 billion -- hi...
Global fintech investment nosedives in 2022, payments space shows top growth
Global fintech investment nosedives in 2022, payments space shows top growth
Source: IANS
17/02/2023 5:30:27 PM
Sports TV broadcasting garnered revenue of INR 9,500 crore in FY22: KPMG Report Television continues to remain the largest media platform in India with regard to its reach and consumer engagement in terms of time spent. TV has always found a place in the Indian household, both in urban and rural regions, and as per KPMG Analysis 2022, the number of TV households in India is expected to reach 250 million by the end of 2026 from 210 million in 2020. This is a 19% increase in the number of TV households in the country over a period of 6 years. A major driver in the stead...
Sports TV broadcasting garnered revenue of INR 9,500 crore in FY22: KPMG Report
Sports TV broadcasting garnered revenue of INR 9,500 crore in FY22: KPMG Report
Source: IANS
18/11/2022 3:59:33 PM
Reliance Capital COC divided on Challenge Mechanism  The Committee of Creditors (COC) of Reliance Capital, which met on Friday to decide on the Challenge Mechanism process, remained divided and undecided on the modalities of the proposed process to be adopted in the bidding process. The COC failed to arrive at a decision on how the Challenge Mechanism process shall work. Instead, the Committee recommended the Black Box approach, which means that the modalities of the Challenge Mechanism process will be decided by the COC, and not commu...
Reliance Capital COC divided on Challenge Mechanism
Reliance Capital COC divided on Challenge Mechanism
Source: IANS
4/11/2022 4:26:18 PM
Global VC investment falls for 3rd straight quarter: Report  Global VC investment fell for the third straight quarter, from $136.8 billion in the second quarter of 2022 to $87 billion in the third quarter of 2022, a new report said on Thursday. According to the Q3'22 edition of Venture Pulse -- a quarterly report, published by KPMG Private Enterprise, the number of global VC deals dropped from 10,425 in the second quarter of 2022 to 7,817 in the third quarter of 2022 -- the lowest level in almost five years. "Significant market vol...
Global VC investment falls for 3rd straight quarter: Report
Global VC investment falls for 3rd straight quarter: Report
Source: IANS
20/10/2022 2:01:50 PM
Mining policy should correlate with geopolitics: KPMG report Indian policies relating to mining have to be reviewed and correlated with the geopolitics and the nation's vision and other aspects so that the revamping of the industry can be done, states a sectoral report by consulting firm KPMG. The report also lists out various challenges faced by the mining sector. "There is a need to revamp the mining industry in India through implementation of global best practices, elimination of bottlenecks and current policy and regulatory hurdles i...
Mining policy should correlate with geopolitics: KPMG report
Mining policy should correlate with geopolitics: KPMG report
Source: IANS
27/09/2022 10:01:57 AM
GIC Re Unions question bell curve appraisal not used by consultant itself The bell curve appraisal system, junked by many big organisations including consultancy firm KPMG is being proposed to be implemented in General Insurance Corporation of India (GIC Re), the company unions said. They also wondered as to how the bell curve appraisal system would be good for GIC Re when its own consultant - KPMG - was not in favour of it. "The bell curve appraisal system that has already been defunct in many organisations is being proposed to be implemented in GIC Re ...
GIC Re Unions question bell curve appraisal not used by consultant itself
GIC Re Unions question bell curve appraisal not used by consultant itself
Source: IANS
13/09/2022 10:07:30 AM
GST collection rises 28% in August: Here`s what experts say Goods and Services Tax (GST) collection in August rose 28 per cent to Rs 1.43 lakh crore, with monthly GST revenue remaining more than Rs 1.4 lakh crore for six months in a row, the Finance Ministry said. "This is a clear impact of various measures taken by the Council in the past to ensure better compliance. Better reporting coupled with economic recovery has been having a positive impact on the GST revenues on a consistent basis," a ministry statement said. The gross GST rev...
GST collection rises 28% in August: Here`s what experts say
GST collection rises 28% in August: Here`s what experts say
Source: IANS
1/09/2022 5:15:07 PM
India to see 45-50 mn EVs on road by 2030, charging top concern India's e-mobility journey is on a fast track, with an estimated 45-50 million electric vehicles (EVs) on road by 2030, a new report said on Tuesday. As the EV ecosystem matures at a rapid pace, a critical facilitator of EV adoption is ready availability of slow and fast chargers ensuring easy access to efficient and cost-effective charging, according to a KPMG in India report. "Development of a robust charging network has gone hand-in-hand with accelerated EV adoption across t...
India to see 45-50 mn EVs on road by 2030, charging top concern
India to see 45-50 mn EVs on road by 2030, charging top concern
Source: IANS
30/08/2022 12:49:26 PM
War in Ukraine to lower growth, increase inflationary pressures globally: KPMG The ongoing conflict in Ukraine is set to lower global growth prospects and increase inflationary pressures across the world, according to global advisory firm KPMG's latest Global Economic Outlook. The bi-annual report provides economic forecasts and analysis from the global organization's team of economists in territories and regions throughout the world. In the report, it warns that progress on global issues including public health and climate change has slowed as political a...
War in Ukraine to lower growth, increase inflationary pressures globally: KPMG
War in Ukraine to lower growth, increase inflationary pressures globally: KPMG
Source: IANS
6/04/2022 2:50:37 PM
Global VC investment soars past $170 bn; smashes previous records in Q3, 2021 This year's healthy level of Global VC investment showed no signs of stopping in Q3, 2021, setting a record for the third-straight time with $171.7 billion across 8,682 deals. An incredible amount of dry powder, increasing participation by less traditional VC investors, and robust exit opportunities helped keep the VC market very healthy according to the Q3, 2021 edition of Venture Pulse -- a quarterly report published by KPMG Private Enterprise on VC trends globally and in key jurisdi...
Global VC investment soars past $170 bn; smashes previous records in Q3, 2021
Global VC investment soars past $170 bn; smashes previous records in Q3, 2021
Source: IANS
25/10/2021 2:24:23 PM
KPMG's UK arm among first to set targets for working class staff LONDON - Accountants KPMG said on Thursday it had become one of Britain's first companies to set a target for staff from working class backgrounds to help close a pay gap and diversify its workforce. Companies are already taking steps to diversify by increasing the number of women and ethnic minority employees, particularly in senior roles. Targets for socio-economic background have featured less in corporate diversity efforts. "We're setting a socio-economic background ...
KPMG's UK arm among first to set targets for working class staff
KPMG's UK arm among first to set targets for working class staff
Source: Accord Fintech
9/09/2021 2:32:43 PM
Financial priorities evolving with saving sentiment gaining clout: KPMG Financial priorities of Indians are evolving amid the pandemic with more and more Indians turning towards saving, according to a report by KPMG. The 'Me, My Life, My Wallet Report 3.0' showed that about 50 per cent of the respondents have started investing more in saving instruments post pandemic. It further revealed that 85 per cent respondents are likely to stick to their savings plan even with a 10 per cent fall in their income. Around 70 per cent respondents across all age g...
Financial priorities evolving with saving sentiment gaining clout: KPMG
Financial priorities evolving with saving sentiment gaining clout: KPMG
Source: IANS
25/05/2021 8:38:34 AM
Future bright as Global VC funding soars $300.5 bn: KPMG The Covid-19 pandemic had little impact on the deal street as global VC funding in 2020 was $300.5 billion - up from $281.6 billion in 2019 and second only to 2018's record $329.7 billion despite a drop in deal volume, the latest edition of a KPMG report said on Saturday. The Private Enterprise Venture Pulse report, said that despite global uncertainty resulting from a number of ongoing events including the COVID-19 pandemic, global VC investment remained very robust in Q4'20, with...
Future bright as Global VC funding soars $300.5 bn: KPMG
Future bright as Global VC funding soars $300.5 bn: KPMG
Source: IANS
23/01/2021 5:55:45 PM