``We will look at building gradual alliances more than outright purchases. It may involve joint development or delivery of IT solutions to help bring in new skills,'' said KPMG India chairman and chief executive officer Sridhar Iyengar referring to the acquisition plans.

The acquisitions will entail creating a larger pool of skilled human resources to meet the demands of the global industry and help Indian entity integrate better with the parent firm, he indicated.

In a significant departure from its operations in the last four years, the Indian subsidiary of $10 billion KPMG International will act as a global resource base to meet the skills and capabilities requirements for the consultancy firm's worldwide operations, according toIyengar.

``With the help of Indian software expertise, we can help large enterprises worldwide to move from legacy computers to web-enabled systems,'' he added.KPMG India has identified banking and finance, asset management and insurance sectors in India as its focus areas, where it will strive to be number one consultancy in the country. With the impending boom in e-commerce, it is gearing up to be able to provide comprehensive IT solutions to banks and financial institutions.

``A major restructuring of the financial services sector is on the anvil and we want to be in a position to provide the best solutions. As for insurance, we have been waiting with perseverance for the sector to open up for the last five years. Once the business opens up, we will be ready with solutions for that sector, as globally we are very strong in insurance,'' said Iyengar.He outlined key practice areas of audit-related services, tax and regulatory, management consulting, corporate finance and quality registrar services as keyto KPMG's business thrust.

The firm's growth plan will include building a talented and highly-skilled workforce besides development of soft skills to become an integral part of client service and delivery training programmes.

``Rapid and radical transformations in client expectations, technologies, competition and business paradigms are changing the environment we function in. Hence, the ability to capitalise on opportunities quickly and manage risks adeptly is a must. Our aggressive growth plan will bring in new skills to the company, besides complementing and enhancing our existing resources,'' said Iyengar.

Broadening of the client base will see KPMG target large and medium companies. But following his `catch 'em young' mantra, Iyengar will not ignore relatively small banks or companies with good business potential either.

Interestingly, the firm has identified a tremendous opportunity in information technology, telecommunication, media and entertainment businesses in the coming years. ``There is alot of scope for Indian entertainment content such as music and films globally. Once the industry gets more organised, we can provide them with strategies and operational consultancy,'' said Iyengar. KPMG already has Sony India as its client.KPMG also has solutions for manufacturing, retail and distribution in which it is targeting chemicals, pharmaceutical and FMCG companies. ``In retail, we can bring in a lot of our best practices and financial analyses,'' he said.