KPMG sees business opportunities in North

Written by Preeti Parashar | Chandigarh | Updated: Apr 28 2010, 03:51am hrs
KPMG, a global network of professional firms providing audit, tax and advisory services plans to set up a back end operations office in Chandigarh. The firm recently opened its ninth office in Chandigarh .

Richard Rekhy, head of advisory, KPMG told FE that being based in Chandigarh , the firm can have access to states like Punjab, Haryana, J&K and Himachal Pradesh as well. Looking at the growth opportunities in this region, we may set up a BPO centre here in the times to come, said Rekhy.

Adding further, he said, There are huge opportunities to be explored in north for providing our services. With the direct tax code, IFRS and GST slated to be introduced in 2011, the corporates will need better support and guidance. Also with various tax issues coming up in J&K and Himachal Pradesh, we see opportunities to serve the regional corporates. Chandigarh and region is too fast emerging as a leading investment destination especially for automotive and engineering, ITES, education, retail and real estate industry. Emerging players in the region will benefit from the presence of the firm and its comprehensive range of services. KPMG is now better positioned to service the growing industry segments in the region and support its home and global clients who have their presence here.

KPMG is also working at the state level in collaboration with the Punjab government, local industry and CII to bring out a study on how to promote the state as an industrial hub. Rekhi said, Since the industrial investment and FDI coming to the state has been declining over the years, the growth potential needs to be explored. Discussions are going on with the concerned parties and the study is likely to be completed within a year or so. We are acting as a facilitator between the state government, the industry and CII to prepare a roadmap for attracting more investment to the state.

Russell Parera, chief executive officer, KPMG in India said the firm is in final stages of bringing out a white research paper on central public sector undertakings (PSUs). The paper is likely to be released within a week. He said, Discussions with the PSUs are over and the modalities have been worked out. We had a series of meetings with various PSUs and the research paper will be based on the challenges being faced in current times by the PSUs. It will also bring out the aspect of adding more value to the PSUs.