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Over 31,500 projects registered under RERA within a year of its implementation

10 Aug 2018

With the completion of a year of Real Estate (Regulation and Development) Act (RERA) implementation, over 31,500 projects have already been registered under the act, finds Grant Thornton-FICCI report ‘One year of RERA: Where the industry stands,’ released at the FICCI Rajasthan Realty Conclave today. Rajasthan has been gearing up fast for the reform, registering over 795 projects so far.

Business optimism in India remains tepid in Q2 2018

25 Jul 2018

India has recently been declared as the 6th largest economy by the World Bank, surpassing France. However, higher twin deficits resulting in a falling rupee and rising crude oil prices and inflation continue to be the reasons for the sluggish business optimism in the country. It continues to rank 6th on the optimism index with 75% businesses in India optimistic about the economic outlook in Q2 2018, finds Grant Thornton’s International Business Report (IBR), a quarterly global business survey. The confidence of Indian businesses has been low since Q3 2017 and is indeed a wakeup call for the government and policymakers. The survey reveals a similar trend globally as business optimism witnessed a drop from the record high net 61% reported in Q1 2018 to a net 54% in Q2 2018.

Industry players and property buyers expect the government to streamline the secondary real estate market in India

20 Jul 2018

After being hit by demonetisation, the secondary real estate market in India has started showing signs of recovery. However, the industry and property buyers expect the government to streamline the market. A recent survey report by Grant Thornton, FICCI and Escrowffrr on Improving transparency in secondary real estate market shows that 47% respondents want the government to streamline the secondary real estate market to avoid paying high stamp duty and other taxes by making escrow mechanism compulsory. Also, about 40% feel that rationalisation of stamp duty and standard agreement will give a boost to the overall sector and bring in transparency.

Technology disruption and overseas expansion drives M&A landscape in Indian automotive sector, says Grant Thornton ACMA report

18 Jul 2018

Indian automobile industry has been opting for the inorganic route to balance investments to support current growth cycles and prepare for future global disruptions. According to Grant Thornton ACMA report - M&A in auto: Shifting gears to be future ready, Merger & Acquisition (M&A) deal volumes in the Indian auto space have remained steady with 18 announced transactions in YTD 2018 worth $500 million (mn). The report was released at ACMA’s National Conference on Inorganic Growth yesterday.

Growing transitional cost and lack of policy transparency key constraints for EV adoption in India: Grant Thornton-CII report

25 May 2018

High cost of Electric Vehicle (EV) battery, lack of a ubiquitous charging infrastructure and policy transparency are the key constraints plaguing the electric mobility landscape in India, finds Grant Thornton CII report: Mobility through transition - Disruption and impact. The report was launched at the CII Next-Gen eMobility Summit in Delhi today. The report further suggests that the government needs to focus on importing lithium as sourcing this critical metal continues to be the key hurdle in EV adoption in India.

Business sentiment in India weakest since 2014

08 May 2018

While entering the last year of the current regime, the business optimism in India has deteriorated with the country ranking 6th globally on the optimism index in the first quarter of 2018, says Grant Thornton’s International Business Report (IBR), a quarterly global business survey. India has been topping the chart since the new government came into power in 2014 (refer to the graph). However, the confidence has shaken since Q3 2017 with weakening currency and a surge in oil prices (Q3 – 7th, Q4 -5th 2017). In contrast, globally, the business optimism is at an all-time high. The IBR finds that in Q1 2018, global business optimism stands at net 61 per cent - the highest figure recorded in 15 years of research.

India’s ranking improves in gender diversity with 20% women in leadership positions, finds Grant Thornton report

08 Mar 2018

While India still ranks fifth lowest in having women in leadership roles, the percentage of leadership roles held by women in India has increased as per Grant Thornton’s Women in business: Beyond policy to progress report. The report shows a steady growth in women in leadership positions from 17 per cent last year to 20 per cent in 2018. This stood at 14 per cent in 2014. Further, the report highlights that 30 per cent of the respondents in India said they have no women in leadership roles.

PE investments touch an all-time high in 2017, finds Grant Thornton’s Fourth Wheel report

07 Mar 2018

For private equity (PE) investments in India, the year 2017 was a milestone clocking USD 21 bn, the highest yearly value, across 735 transactions. According to the sixth edition of Grant Thornton’s The Fourth Wheel 2018 report, the year recorded a 54 per cent jump in values over 2016, despite a 24 per cent decline in volumes. This indicates significant jump in average deal sizes.

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.