Business Reports

The country achieved an impressive 8.4% growth rate in the third quarter of fiscal year 2024, exceeding all previous expectations. For this quarter, market experts had predicted a slower increase rate of 6.6% to 7.2%. According to Deloitte's January 2024 prediction, growth ranges from 7.1% to 7.4%. After significant data revisions, India's GDP growth has reached 8.2% year over year (YoY) for the past three quarters of the fiscal year.   Based on India's GDP updates and stronger-than-expected growth in fiscal 2024, we've raised our growth prediction for this year from 7.6% to 7.8%. We anticipate a slight fourth-quarter increase due to uncertainty around India's 2024 general elections and a moderate rise in consumer growth.    Deloitte’s Forecast on India’s economic growth   Our predictions for the near future remain consistent with prior projections, except for a slight adjustment to the projected range due to a more significant base impact in fiscal 2024

  Metaverse Report 2024   At present, it has become quite challenging to miss out on the buzzword "Metaverse," as it is a term that is being widely talked about and has gained significant attention. Several business giants like Meta and Microsoft have invested in this metaverse technology to make this emerging technology come to life. Many individuals are scratching their heads around the concept of the Metaverse, including its implications for the future, benefits and drawbacks, and current trends.   Although metaverse technology has long been around, it will be a game changer in the near future. It has recently received a lot of attention, from science fiction to the real world of digital life. A shared virtual environment called the "metaverse" connects the virtual and physical realms. It is not just a daydream but an actual real space for everyone. It's a virtual reality technology where people can communicate, work, play, and socialize. Its influen

  The world is evolving at a rapid pace. New technologies are emerging at a neck-breaking pace. This evolution of technology and data has heightened regulators' expectations and intensified market competition. Advancements in technologies like cloud computing, artificial intelligence (AI), machine learning (ML), and open application programming interfaces (APIs) are also reshaping the data supply chains of financial institutions. This transformative landscape is compelling leaders in data and technology to consider significant modernization efforts in tools and infrastructure to stay abreast of these dynamic shifts. It becomes imperative to invest in a data management program that would lead to a fundamental transformation. By taking inference from Deloitte's “ Data Management ‘Now’ for Financial Institutions Investing in change ‘next’” article, we’ve collated some of the crucial data management trends in the financial services sector and possible agendas to combat the si

  2023 is ending, and we all acknowledge what a year it was. We saw a burst of opportunities, remarkable achievements and a surge in revenues for several companies. To honour these companies for their incredible contribution, Deloitte India's 2023 Technology Fast 50 Programme rewards the fastest-growing tech companies. It also celebrates businesses demonstrating consistent innovation, adaptability, and a unique ability to leverage technology for sustained growth. The Top 50 winners of 2023 exemplify resilience, ingenuity, and the spirit of creating formidable solutions that shape India's technological landscape. Started in 2005, the programme aims to recognize and applaud tech-enabled businesses on their three-year average revenue growth.  Over the years, Deloitte India has become the most coveted and awaited recognition for the tech entrepreneurs of the nation. The list encompasses some of the highly competitive, new-age, agile businesses that focus on revenue and growth to re

  Trust is a good business practice. Jim Blasingame T rust acts as the adhesive that binds all relationships together. It is the single most important factor that stakeholders look up to. Trust is an essential aspect of any relationship, be it personal or professional. This factor is an outcome of good intentions and competence, influenced by factors like capability, dependability, empathy, and transparency.   Trust has become one of the most concerning business issues across multiple industries. In a recent survey by Edelman, in the consumer industry, 81% of customers view trust as an important factor. Building trust is crucial for organizational performance, employee motivation, customer loyalty, and stakeholder satisfaction, regardless of whether it is the board or the CEO leading the way. According to a recent survey, an overwhelming 94% of global boards recognize the importance of trust in driving organizational success. It is evident that organizations that cultivate trust equity