-
Digital Natives
Unlock growth with Grant Thornton Bharat's Digital Natives solutions. Customised support for tech-driven companies in healthcare, gaming, and more.
-
Business Consulting
Our business consulting specialists offer a comprehensive blend of strategic advisory services. We assess the business, industry, operating model, synergy, skill sets and vision of the organisation and recommend the way forward
-
Digital Transformation Services
Grant Thornton’s digital transformation services help traditional businesses digitalise their business models with cloud technology, IoT consulting, app development and more DigiTech solutions.
-
Human Capital Consulting
Our Human Capital Consulting team harnesses technology and industry expertise to assist in constructing adaptable organisations with transparency, fostering productive and value-driven workforces, and inspiring employees to engage meaningfully in their tasks.
-
Production Linked Incentive Scheme
Production-linked Incentive Scheme by the Indian government is aimed at boosting manufacturing. Grant Thornton Bharat offers varied services across sectors to help businesses avail of this scheme.
-
Public Sector Advisory
Our Public Sector Advisory team has focused streams, aligned with the core priorities of the Government of India. We are responsible for providing innovative and customized technical and managerial solutions.
-
Tech Advisory
We have amalgamated Digital Transformation, IT Advisory & Information Management and Analytics into a new offering, DigiTech.
-
Direct Tax services
Our tax specialists offer a comprehensive blend of tax services, tax litigation, regulatory and compliance services, helping you navigate through complex business matters.
-
Indirect Tax Services
Get tax services by leading tax firm Grant Thornton India. Our indirect tax services include consulting, compliance and litigation services for corporate, international and transaction tax
-
Transfer pricing services
Our transfer pricing services experts provide a range of services from provision of APA services to handling large global assignments including Country by Country reporting.
-
US Tax
At Grant Thornton, we help individuals and dynamic companies deal with US tax laws, which are one of the most complicated tax legislations across the world.
-
Financial Services - Tax
Best financial advisory services, tailored for small and large businesses by the experts having comprehensive knowledge of domestic laws and access to multifaceted tools to provide a valuable results.
-
Financial Reporting consulting services
Our experts have significant hands-on experience in providing IFRS/US GAAP services, end-to-end solutions and support services to fulfil financial reporting requirements.
-
Fund accounting and financial reporting
International operations often lack standardisation and have varied local reporting formats and requirements. Our experts can offer proactive insights, practical guidance, and positive progress and help meet regulatory timeframes.
-
Compliance and Secretarial Services
Our experts can assist in overhauling the entire compliance machinery of the organisation through evaluation of the applicable statutory obligations, monitoring of adequate governance controls, reporting and providing ongoing support.
-
Global People Solutions
As businesses transcend borders, both domestic and global considerations need equal attention. Our interim CFO and financial controller support services help organisations meet the business vision.
-
Finance and accounting outsourcing
Our accounting experts assist organisations in managing their accounting and reporting. Our dedicated Integrated Knowledge and Capability Centre (IKCC), allows us to service both the domestic and global markets efficiently and cost-effectively
-
Compliance Management System
We have automation solutions for you that will allow meeting government requirements and remain diligent, which when failed, can lead to penalties and loss in revenue.
-
IKCC: Grant Thornton's Shared Service Centre
The India Knowledge and Capability Centre (IKCC), aimed at delivering solutions by developing capabilities, has completed four years of its journey.
-
Global compliance and reporting solutions
At Grant Thornton Bharat, we meet the challenges of our clients and help them unlock their potential for growth. Our professionals offer solutions tailored to meet our clients’ global accounting and statutory reporting requirements. With first-hand experience of local reporting requirements in more than 145+ locations worldwide, we provide seamless and consistent international service delivery through a single point of contact.
-
Related Party Transactions Governance
Grant Thornton Bharat's comprehensive related-party transaction services ensure good governance by adhering to regulatory requirements, promoting transparency, and providing robust policies for compliance, documentation, and accountability in related-party transactions.
-
Private Client Services
Grant Thornton Bharat Private Client Services offers tailored advisory for family-owned businesses, focusing on governance, compliance, tax, succession planning, and family office structuring to sustain wealth and preserve legacies across generations.
-
GTMitra: Tax & Regulatory Tool
GTMitra, a specialised tax and regulatory tool by Grant Thornton Bharat, supports multinational businesses in understanding laws and regulations for effective growth strategies.
-
Labour codes
Labour codes solutions help you transition through the new legislation. At Grant Thornton, we help businesses divide their approach to make sure a smooth transition.
-
Alerts
At Grant Thornton India, with the help of our tax alerts, we help to provide updates on how to minimise your tax exposure and risks.
-
Cyber
In today’s time, businesses have gone through large transformation initiatives such as adoption of digital technologies, transition to cloud, use of advanced technologies et al.
-
Governance, Risk & Operations
Our Governance, Risk and Operations (GRO) services encompass Internal Audit, Enterprise Risk Management, Internal Financial Controls, IT advisory, Standard Operating Procedures and other services.
-
Risk analytics
Grant Thornton Bharat’s CLEARR Insights is a state-of-the art data analytics platform that will help you in seamless data analysis and efficient decision-making.
-
Forensic & Investigation Services
The team of forensic advisory services experts consists of the best intelligence corporate experts, and fraud risk, computer forensic experts to deliver most effective solutions to dynamic Indian businesses.
-
ESG consulting
Grant Thornton Bharat offers holistic ESG consulting solutions for sustainable business outcomes. With industry expertise and AI technology, we drive long-term value.
-
Transaction Tax Services
Our transaction tax experts understand your business, anticipate your needs and come up with robust tax solutions that help you achieve business objectives ensuring compliance and efficiency
-
Deal Advisory
Unlike other M&A advisory firm in India, we offer deal advisory services and work exclusively with controlled and well-designed strategies to help businesses grow, expand and create value.
-
Due Diligence
Grant Thornton’s financial due diligence services are aimed at corporate looking for mergers and acquisitions, private equity firms evaluating investments and businesses/promoters considering sale/divestment.
-
Valuations
As one of the leading valuation consultants in India, Grant Thornton specializes in all the aspects of the process like business valuation services, financial reporting, tax issues, etc.
-
Overseas Listing
Overseas listing presents a perfect platform for mid-sized Indian companies with global ambitions. Grant Thornton’s team of experts in listings, work closely with clients during all stages.
-
Debt & Special Situations Solutions
Grant Thornton Bharat offers specialist debt and special situations consulting services, including restructuring, insolvency, and asset tracing solutions.
-
Financial Reporting Advisory Services
Grant Thornton Bharat Financial Reporting Advisory Services offer end-to-end solutions for complex financial requirements, including GAAP conversions, IPO support, and hedge accounting advisory, ensuring accurate financial reporting and compliance.
-
Financial Statement Audit and Attestation Services
Grant Thornton Bharat offers customised financial statement audit and attestation services, ensuring impeccable quality and compliance with global standards. Our partner-led approach, technical expertise, and market credibility ensure effective solutions for your business needs.
- Agriculture
- Asset management
- Automotive and EV
- Aviation
- Banking
- Education and ed-tech
- Energy & Renewables
- Engineering & industrial products
- FinTech
- FMCG & consumer goods
- Food processing
- Gaming
- Healthcare
- Urban infrastructure
- Insurance
- Media
- Medical devices
- Metals & Mining
- NBFC
- Pharma, bio tech & life sciences
- Real estate and REITs
- Retail & E-commerce
- Specialty chemicals
- Sports
- Technology
- Telecom
- Transportation & logistics
- Tourism & hospitality
-
Article Agriculture and Budget: Immediate compulsions and long-term visionGovernment focuses on sustainable agriculture, digital infrastructure, and market intelligence to enhance productivity and global competitiveness in agriculture.
-
Article Union Budget 2024 expectations: Building resilience for consumer industryUnion Budget 2024 expectations: Building resilience for consumer industry
-
Thought Leadership Grain to gain: Impact of corn on India’s biofuel revolutionExplore Grant Thornton insights on unlocking India’s Energy Potential on Corn-Based Ethanol as a sustainable fuel solution.
-
Case study Transforming agriculture: The rise of Drone DidisDiscover how Grant Thornton Bharat's Drone Didis initiative empowers rural women and transforms agriculture with drone technology. Learn more about this success.
-
India-UK
India-UK
Poised to be every bit as disruptive as the internet revolution, is your business ready for the rise of the sharing economy?
Managing excess capacity is nothing new. Goods and services have long been traded in mutually beneficial ways, often on a supply-and-demand basis, and resources have been shared to bring costs down.
Traditionally, however, this has mainly been done at a local, informal level. But developments in technology are allowing the sharing economy (see below: ‘What is the sharing economy?’) to operate on a much larger scale.
“Fixed goods being used on a part-time basis has always been an issue,” says Steven Perkins, global leader for technology at Grant Thornton. “But two things have changed. First, there’s been an extraordinary confluence of technology – mobile, social and analytical – that has made sharing small amounts of excess capacity practical. The second is social change: a move from ownership to access mentality.”
Technology has given consumers the ability to research, discuss and make purchasing decisions in real-time, according to Perkins, while the social change creates a willingness to buy services in non-traditional ways. Together, they create a user feedback loop, driving the sharing economy forward.
What we are facing, says Perkins, is not an incremental change to business models but a massive and disruptive change more akin to a revolution. “It can seem quite strange to those from a generation, mine, for whom ownership and control – of houses, cars or consumer goods, for example – was a touchstone. For millennials, however, there is a greater willingness to participate in the sharing economy and to trust the technology.”
Pros and cons
For the entrepreneurs who spotted the trend and responded with smart technology solutions, the results have been extraordinary. Eye-popping valuations – Uber at $40 billion and AIRBNB at $13 billion – have earned the interest of the media and the attention of governments and regulators.
Many businesses have had to consider the sharing economy early. “If they didn’t, there was a risk that they wouldn’t be around in a few years’ time,” Perkins says. “We’re already seeing people move past trying to ignore the sharing economy or deny its viability and into a period where they are first fighting it and then adopting it.”
While the low cost of entry for new sharing businesses can be seen as a threat to traditional organisations, established firms have advantages of their own – their brands, their deep customer knowledge and their understanding of quality and customer service. Ultimately, much will depend on whether they can import technology into the mix to deliver a smooth, convenient customer experience. If they can, sharing could produce enormous cost savings, particularly in the use of energy and raw materials.
Take BMW’s investment in DriveNow, a car-sharing joint venture with Sixt. Serviced by an app, customers can locate, unlock and drive vehicles in city environments, charged by the minute without the need to drop the vehicles off at the point where they collected them. For BMW it looks like a classic example of building your worst enemy before someone else does. Going head to head with services like Zipcar and Uber, it’s striking for many reasons, not least that it’s helping BMW reach a demographic that’s more than 10 years younger than its traditional customer.
As with the adoption of internet technologies, the biggest challenge for traditional businesses is finding the right expertise. “The ability to reinvent a business and manage change on a constant basis is a core competency of successful organisations,” says Perkins. “Understanding the radical possibilities of technology and analytics is no longer something that needs to be found among functions, such as marketing or logistics, it’s something that has to live at board level.”
In other words, businesses must find individuals who are technology- and business model-savvy, with the risk-taking profile to help them reinvent themselves.
But what of regulation? Complaints from existing operators about rules being flouted and concerns from governments about lost revenues are focusing attention on how to respond to the sharing economy. From Perkins’ perspective, however, he sees no sign that it’s hampering investment: “Many of the concerns are legitimate, of course. However, some regulators, such as those in London, San Francisco, Paris and Amsterdam, have already shown their intent by relaxing rules around home sharing, while also ensuring safety and taxation norms are met. The key for businesses is to build capacity so they can engage early with governmental institutions.”
A much bigger question is where the sharing economy will go in the medium term. The pace of technological change, along with our willingness to try new ways of working and consuming, means it no longer makes sense to believe that there’s a limit on the business applications of technology.
“You used to hear analysts saying ‘people will never buy clothes online’ or ‘people will always want to own music’,” says Perkins. “But now people are increasingly comfortable flying to a city on business and not booking a room until they arrive. With this attitudinal change and the impending arrival of technology – such as 3D printers and the Internet of Things – you should be sceptical of anyone who says ‘here’s a line that will never be crossed’.”
What is the sharing economy?
The global sharing economy – whereby businesses are built on the sharing of resources, allowing customers to access goods only when needed – is growing at pace. The market is dominated by start-ups, including AIRBNB, car hire business ZipCar and SnapGoods, which facilitates the sharing of household goods.
Another example is Uber, an app-based business that provides an alternative to traditional city taxis. It pairs drivers with ride-seekers, bypassing the cab companies altogether. Uber’s success has been built on a combination of convenience and competitive pricing, both fuelled by the model of the sharing economy.
Providing taxis with the location of nearby customers and informing them how long they have to wait has removed the ambiguity of waiting for a passing taxi. Cars and drivers are in good supply due to far less stringent testing and licensing requirements. And the lower cost of becoming an Uber driver allows for lower fares.
As with any market disrupter, Uber has faced challenges. Questions have been raised about the quality of its drivers. And it has faced legal threats in countries including the US, Germany, India and France, where its Paris operation was banned following protests by incumbent firms. However, with 8 million users worldwide, Uber is certainly maximising the potential of the sharing economy.
But this is not just about start-ups. China-based Haier Group is a long-established white goods manufacturer that has adapted its business model to take advantage of the sharing economy. It delivers thousands of washing machines and fridges across China every day, but has replaced its fleet of vehicles with an online platform that lists planned deliveries for each day. Local people with delivery vehicles can then bid for customer orders – a review system has been put in place to help protect against any potential drop in service and quality.
– By Steven Perkins.
Click here to know more.