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Grant Thornton FICCI survey says 45% developers have no formal process in place to manage compliance mechanism of RERA

20 Feb 2018

As per the latest RERA survey by Grant Thornton in India and industry body, FICCI, 45 per cent of the real estate developers have no formal process in place to manage compliance mechanism of RERA and about 44 per cent have made some modifications to their MIS (Management Information System). The survey report also reveals that majority of the board/senior management (78 per cent) are using common methods like excel based MIS reporting to review RERA compliance.

The impact of GST on the restaurant industry is largely positive, finds Grant Thornton report

14 Feb 2018

Business owners from restaurant industry in Mumbai and Bengaluru believe that the impact of Goods & Services Tax (GST) is largely positive. According to a report by Grant Thornton in India - Bon Appétit – Emerging trends, opportunities and challenges in Indian restaurant industry, 70 per cent of the restaurant owners believe GST is a positive decision for the industry. The report further highlights that 68 per cent businesses believe that GST will ease compliance as it is backed by technology.

India needs to improve exports to become a preferred manufacturing destination for auto components, says Grant Thornton ACMA report

07 Feb 2018

The Automobile Mission Plan (AMP) 2026 policy aims to develop India as a preferred destination for manufacturing auto components and improving exports will play a major role in achieving this target. According to Grant Thornton ACMA report - Making Indian auto component industry future-ready, the auto component industry will have to take significant measures and steps to convert from being an export deficit industry to an export surplus industry.

Business optimism in Asia Pacific has hit a two-year high

26 Dec 2017

Grant Thornton’s new Asia Pacific report - Asia Pacific: trading and thriving reflects a buoyant mood across much of the region, as business optimism hits a two-year high. This is largely driven by improvements from its two biggest economies, China and Japan, and region-wide positivity on prospects for increased trade. However, not all trajectories are heading upwards. India’s optimism mostly remains positive at 75 per cent but has dropped to its lowest level in four years.

Food grain demand is expected to reach 355 million tonnes in 2030 and farm mechanisation will be instrumental in meeting this demand, says Grant Thornton and FICCI report

07 Dec 2017

Food grain demand in India is expected to reach 355 million tonnes in 2030 as compared to 250 million tonnes in 2016 and the enhancement of farm mechanisation market will play a key role in meeting this demand, says a Knowledge Paper by Grant Thornton and FICCI – “Mechanisation: Key to higher productivity to double farmers’ income” launched today at EIMA Agrimach India 2017. The knowledge paper further states that the farm equipment market in India is currently estimated at USD 8.8 billion in 2017 and it is expected to reach USD 12.5 billion by 2022 with a CAGR of 7.5 per cent.

Establishing the charging infrastructure is a significant challenge in adoption of Electric Vehicles in India: Grant Thornton-CII report

22 Nov 2017

While India has pledged to have an “all-electric car production effective 2030”, the lack of charging infrastructure is one of the prime concerns for the Government of India (GoI) to achieve this milestone, finds Grant Thornton CII report - Sustainable NextGen Automotive Technologies - Imperative India released at the CII Conference today. India lags behind in the availability of charging infrastructure with 353 charging stations only spread across the country. Large number of these charging stations have been set up by the manufacturers of Electric Vehicles (EV).

India slips to 7th position on the business optimism ranking: Grant Thornton’s IBR survey

08 Nov 2017

The results of Grant Thornton’s International Business Report (IBR), a quarterly global business survey, reveal that business optimism in India has slipped from 2nd position in the last quarter to 7th position in the 3rd quarter of 2017. The scale and the report are prepared based on the results of a quarterly global business survey of 2,500 businesses in 37 economies conducted in September before the announcements of the big reforms by the Government on Bank recapitalisation, infrastructure investments particularly in roads, aggressive actions on insolvency and bankruptcy.

Grant Thornton in India launches a new service line – DigiTech to assist clients in embracing digital transformation

30 Oct 2017

In 15 years since its inception, Grant Thornton in India (GT) has grown to over 3,000 people and has become a leader in serving mid- to large Indian companies that have global aspirations for both their compliance and advisory needs. Understanding the crucial role that technology is playing in today’s business environment, the Firm has now taken a step forward to assist its clients unlock the potential for growth through digital transformation. Grant Thornton has combined Digital Transformation, Technology (IT) & Analytics into a new DigiTech service line in India to complement its services in Audit, Tax, Risk Advisory and Growth Advisory.

Grant Thornton celebrates its third Global CSR Day, touches the lives of over 2274 underprivileged children across 7 cities

15 Sep 2017

In its endeavour to unlock the potential for growth in our communities, Grant Thornton in India celebrates today its third annual Corporate Social Responsibility (CSR) day. More than 300 Grant Thornton employees dedicated 1500 working hours in serving and educating 2274 underprivileged children across seven cities in India.

IndAS dents India Inc.’s profitability by 6.2 per cent, finds a Grant Thornton study

06 Sep 2017

As the curtains drew on the first annual reporting by listed companies under the new accounting standards i.e. Indian Accounting Standards or IndAS, Grant Thornton conducted a study of more than 500 listed companies to assess the impact of IndAS implementation. The study finds that these listed companies reported a decline in their net profits by a whopping INR 13,680 crore which is a decline of 6.2 per cent over their previous reported profits under earlier accounting standards, for the previous financial year ended 31 March 2016.