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Dear Friends,

It was great to meet and interact with you at the alumni events in December 2012. Thank you for taking the time out to reunite with old friends and colleagues, rekindling fond memories and learnings at PwC!

I’m pleased to welcome you to the first edition of PwC Connect, our quarterly alumni newsletter, which will feature stories, photographs, anecdotes, serving as a platform of its kind to celebrate your unique PwC experience.

The tight knit bond that you, our esteemed alumni share with PwC is important to us. We deeply value and appreciate your contributions in making PwC what it is today. Therefore, we’d like this newsletter to be a medium through which we stay connected and share the latest in both our professional and personal lives!

I hope this initiative draws the past, present and future of PwC closer, further strengthening and nurturing our relationship.

Sincerely,

Deepak KapoorChairman, PwC India

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Anshuman Kankan (Andy) is the General Manager, Colt Technology Services, India, which is the wholly owned subsidiary of the COLT Group. Andy began his career with PwC in 1982 and worked with the firm until 1987. He was also briefly associated with us as a Consultant in 1992. Andy joined Colt India in September 2004, when it started operations in India. He has over 30 years of experience with the leading financial and BPO companies worldwide. Subsequently, he held various senior roles with the blue chip companies such as GE Capital India, GE Capital (US), GE Capital International Services (GECIS) and Grolier. From 2001-2004, he also got VC funds and founded a start-up. He is an Economics graduate from St. Stephen’s College, University of Delhi and completed his MBA from Bowling Green State University, Ohio, USA in 1989. He has worked in the United States for five years (from 1987-92 and later from 1997-98) and has extensively travelled around the globe.

In a tête-à-tête with Anshuman, discussing about his life, what drives him and his overall experience at PwC.

Your tenure at Colt Technologies spans more than eight years. What are some of the biggest changes that you’ve seen the company experience during this time?

The company has transformed from being a telecom player to an information delivery platform services provider. It not only survived the Lehman crisis 2008 and the latest EU/global slowdown but made profits in the last three years. Colt India has grown to about 30% of the global headcount, supporting EU and Japan.

While 2012 remained uncertain for the BPO industry globally, it exhibited resilience in retaining its appeal to the clients. What future do you see for the industry in the next five years?

Terminology such as BPO/KPO etc will be meaningless in the near future. Instead, all that will matter is delivering value to your customers. Interestingly, the way the customers define value changes with time. Doing more with less and yet creating business impact seems to be the mantra for the next three to five years. The players with unsound domain knowledge will not be able to survive as the global economic environment will be difficult for the next few years. Innovation and business analytics supporting business growth would be the other key themes for the next five years.

What does your typical day at work entail? What facets of your job do you find the most challenging? What drives you?

Most of my day is spent in stakeholder meetings, employee interactions as well as external meetings. I track financials, headcount and business performance on a regular basis. I enjoy employee interactions,

in particular, with the young colleagues as they are ambitious and full of energy. I also enjoy working in a cross cultural environment, meeting people from different cultures such as the French/German/Italian/English/American, Japanese etc. I am a firm believer in the intellectual capital and feel that the India value proposition is not just about cost. Difficult environment brings along new challenges and therefore, there has never been a dull moment for me here.

According to you, what are the key values that every leader should possess?

A good leader should be a good listener, have the ability to connect well with people and drive business performance. He/she should know and understand the financial numbers of his/her business (that’s where Audit/Finance training has helped me). In the present context, he/she should also be able to work across different cultures.

What were your most memorable moments at PwC? How has PwC shaped you as a professional?

PwC was a much smaller place at that time; therefore, I knew most of the people. Even after 30 years, I’m still close to some of the colleagues.

Some of these professionals are still with PwC while the others are working elsewhere. It was an informal yet a very professional environment. The audit training imparted by PwC stays with you throughout your professional life. It’s the attention to details that makes all the difference. PwC has always attracted exceptionally talented and capable people. I believe that is still the case.

Tell us something about your family. How do you balance the demands of your personal and professional life?

My family constitutes of seven people. My wife, Nidhi, who volunteers at Sanjivani; my three daughters, Tanvi (19 years), Swati (18 years) and Mansi (14 years); my mother and Rafe (our dog). Tanvi is in Jesus and Mary College, pursuing Psychology (Hons), Swati and Mansi study in the Shriram School in Gurgaon. I make it a point to have dinner with the family on weekdays and spend most of the weekends at home. There is no magic mantra to balance professional and personal life. One just needs to make sure that one takes out enough time for family/friends.

What advice would you give to the young talent starting their career with PwC?

There are no shortcuts in life. One has to work hard in any profession. Do not ever compromise on ethics and values. Be open to suggestions and feedback as well as receptive to new ideas. Try out different things till you find out what interests you the most. Money is important but it always comes with success so it should not be a short - term consideration.

With a distinguished legacy that PwC has, how can the alumni come together to collaborate and create higher standards of professionalism?

Alumni can bring in external perspective from different industries. Each industry is unique and has its own special needs. A joint approach can cement ties within an industry. It takes a sustained approach over years to build credibility and acceptance with the alumni.

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Anshuman KankanGeneral Manager, Colt Technology Services

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Pawan Tayla, who was with PwC from 1993 - 1995, is the Head of Finance at Fidelity Worldwide Investment. He is also a teacher of Yoga and an active volunteer at the Art of Living Foundation. Subsequent to his illustrious career, spanning nearly two decades, as a senior executive with organisations such as Hewlett Packard, Pernod Ricard, Convergys and Aon Hewitt, he started practicing and later teaching yoga.

We caught up with Pawan to understand how professionals can overcome stress and perform better by adopting yoga and meditation. Pawan shared with us his life changing experience and the benefits of yoga.

How were you introduced to Yoga? Did you start at an early age?

Six years ago, while in a high pressure role as the Chief Financial Officer (CFO) with a MNC, competition; pressure; deadlines; expectations; anger; stress; lack of time and anxiety were a way of life for me. Quite literally, it felt like running on a treadmill, expending energy and reaching nowhere as far as the happiness quotient was concerned.

This is when a colleague cajoled me to attend an introductory yoga seminar, where my wife, Kanika and I experienced our first meditation session. It was surprising to see that on a Monday evening (after a hectic day in the office), I felt energetic with just 20 minutes of meditation. We immediately decided that we would enrol for the course from the very next day... and till today, we repent for not enrolling for it earlier.

While many people take to yoga and meditation, very few sustain the practice. How did you manage to continue, especially with the time constraints most of us face?

In their quest for happiness and peace of mind, most people dig several holes but feel disappointed on not getting water. Most yoga / meditation practices are good. However, the key is in choosing one and holding on to it. One needs to keep digging at the same place to get water one day. You have to commit yourself to the practice. After I joined the course, I embraced the discipline fully and unconditionally, committing myself to the practice for 180 days. Also, the fact that Kanika and I did the course together played a key role. We motivated one another during lethargic moments and the results were extremely transformational.

Regarding the question on time constraint – think of the amount of time we spend being angry, stressed, worried, anxious etc. You end up saving all this time, once you start practising yoga and meditation. I term these practices as time management tools rather than something that eats into your time.

From the board room stress to teaching yoga / meditation, how do you switch between the two hats? Did it always come easily to you?

It is like riding a bicycle, difficult in the early days but, it becomes a part of your DNA later... It’s a way of living for me now. Personally, I grow every time I take up a new course. In addition, the smiling faces and transformed souls give me the energy to keep going on.

Try it yourself. Do a random act of kindness (anything that you do for someone needy without any expectation in return) and observe your state of mind after that.

Not just as a practitioner but as a teacher too, there must be more responsibility towards your students. Share with us how teaching is different and how long did it take you to be a teacher?

My guru (teacher) knew that the only way he could get me to learn and embrace knowledge was to make me start teaching. So he didn’t waste much time and made me a teacher in just two years. It is true that teaching gives opportunity for accelerated self - learning, as it pushes you to walk the talk. Also, while you discuss doubts and questions from the students, your own questions get answered!

Whether we accept it or not, we are responsible for everything that is happening around us in the society. The little that I have started doing urges my conscience to move from complaining to taking action and making a difference in the society

How has this practice helped you in your professional and personal life? Many say this can be a life changing experience. Do you have any moments that you want to share?

The practice has given a purpose and meaning to my personal life, which is extremely fulfilling. Professionally, I am at ease with every situation. I am more focused, calm, dynamic, energetic, active, creative and happy. I do have my weak moments; however, I’m able to overcome them very quickly. The ability to ‘let go’ increases manifold.

I was a chain smoker for 20 years struggling with the ill effects of smoking, when I started my practice. Like many, I too had quit smoking many a times but started again.On the first day of the course, I resolved to quit and never felt the urge to start smoking again.

The technique I learnt is called ‘Sudarshan Kriya’. It is an extremely powerful breathing technique, incorporating specific natural rhythms of breath, which harmonise the body, mind and emotions. This unique breathing technique eliminates stress, fatigue and negative emotions such as anger, frustration and depression, leaving you calm, energised, focused and relaxed. A lot of scientific research has been done on Sudarshan Kriya.

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Pawan TaylaHead of Finance at Fidelity Worldwide Investment

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Do you have any message for our readers on why life should be more than just work and home?

Relax, pause and introspect. Are you living a life of physical and emotional well - being? We have been taught almost everything since we were born but has someone taught us how to manage stress, anger, anxiety and fear? Unfortunately, no school teaches us how to manage these negative emotions while we all deal with them every day and take them as Given.

It is not easy to accept this reality but not doing so, is living a suboptimal life.

Share some tips/ simple techniques with your former colleagues, who may not have the time to undergo the training on reducing stress.

Everyday before going to bed, sit in a quiet place for 10 minutes with your eyes closed. Watch your breath carefully while taking deep long breaths. This is a simple yet extremely powerful de-stress exercise.

Our breath has the power to transform our emotions though we don’t pay much attention to it. Just notice your breath, when you are angry - fast, and when you are depressed - slow and shallow. Therefore, your emotions control your breath. If you start controlling your breath, your emotions will automatically transform.

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Healing smiles- Pawan with his yoga students

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Arnab Banerjee worked with PwC India for nearly a decade, from 1997 to 2006 as a Principal Consultant. After a brief stint with IBM UK and Deloitte UK, he joined PwC UK. Currently, he delivers HR transformation and technology services to clients. Read about Arnab’s journey from India to UK and his experiences with PwC.

You’ve worked at PwC India and now are working at PwC UK. What are the similarities /differences that you note between these two firms?

PwC India and PwC UK are both very professional, client - centric organisations with a very strong emphasis on relationships. Both organisations respond to their local markets in their own way.

Needless to say, the local markets are very different for the two firms, particularly in technology enabled HR transformation, which is my area of specialisation.

In PwC India, the emphasis on technology and delivery in HR and technology consulting was lots more even at the time when I left, as compared to what it is today at PwC UK.

Would you like to share some of the key learnings, experiences/ lessons/ qualities, which you developed while working at PwC India that helped you in the UK?

Expertise in my area of specialisation, tapping into the global network coupled with relentless focus on client service has helped me in my career.

Knowledge sharing and discussions with clients, which are not just limited to one’s immediate area of expertise, helps in the making of a well - rounded consultant/client advisor. This trait is valued immensely by clients and colleagues alike.

Has living abroad changed your life in any way?

Living abroad hasn’t really changed my life. When I was with PwC India, I was travelling across the world for medium and long - term assignments in Europe and

the US. Moving to the UK permanently (there is no such thing as permanent though), actually meant less travel and more time with my family. Some of my college and university friends were also in the UK, so socially, there was an element of continuity. However, my daughter misses her grandparents. I really wish she could spend more time with them and get more acquainted with her roots.

Professionally, I have been able to hone my skills in HR consulting, something that I had wanted to do since I was in India.

What would you like to tell our alumni, who are looking for opportunities abroad?

Be good in what you do, be yourself and build up professional relationships as you go along. It is important to keep abreast of the developments in the world of business, politics, economics and technology and re-calibrate one’s career accordingly. Adaptability, in both professional and personal life is very important.

On a personal front, what do you miss the most being outside India? What gives you a sense of belonging in the UK despite being so many miles away?

I miss the immediacy of our family and two specialities from Bengal, Sondesh and a particular variety of mango - Himsagar, which are only available in Kolkata during April/May.

The UK offers me a sense of shared legacy. It is a home away from home. I also enjoy the cultural scene in London. But, what I enjoy the most is the thought that if I really miss Kolkata/India that badly, I can always go back.

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Arnab BanerjeeHR Technology at PwC UK

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Making a DifferencePwC Foundation

The PwC India foundation works towards making a difference to the society in the areas of ‘Education’ and ‘Sustainability’. Since its inception in 2009, the Foundation has done some excellent work in the aforementioned fields and continues to grow in magnitude and effort.

Currently, the PwC Foundation is a partner with 13 NGOs, actively working in eight cities across India. PwC strongly believes that one can make a difference to the society in two significant ways – ‘Arthdaan’, contributing monetary resources for the good of the community and ‘Shramdaan’, contributing time and energy for the welfare of the society. The foundation takes care of the ‘Arthdaan’ aspect as an institution while the whole - hearted support of the employees as ‘individuals’ makes ‘Shramdaan’ a successful initiative. The employees are encouraged to devote two working days in a year to engage and support varied social endeavours such as teaching the underprivileged children, conducting career counselling sessions and organising interactive events for children under the aegis of the Pratham, Vidya and Child, Muktangan and Mentaid.

Furthermore, the PwC Corporate Responsibility (CR) team recently organised multiple internal campaigns such as the Earth Hour, Marathon, Blood Donation Camp, ‘Joy of Giving’ initiative, Planting trees, Recycling of used paper among others, which saw generous participation from the employees throughout the country.

The PwC employees continuously express a sense of satisfaction and joy in bringing smiles to the faces of the less privileged in the society.

Here are some interesting experiences shared by the PwC alumni.

Abhishek Das felt, “We came out from the school with a sense of renewed hope coupled with a realisation of the massive potential, waiting to be unleashed in the far flung areas of the country.”

For Akantdeep Punia, “It was enjoyable and satisfying to spend time with the children. I found Pratham to be an excellent medium for bringing a positive change in the lives of these children.”

True to the saying, what goes around comes around; the members are motivated to continue supporting such endeavours in the future with more gusto and enthusiasm to not just contribute to the welfare of the society but enrich and add more meaning to their own lives.

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Spreading knowledge- PwC employees volunteer to teach the underpriviledged children

PwCites at the Airtel Delhi Half Marathon 2012

PwC Foundation celebrates World Literacy Day

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ExpressionsTravelogue – Heard About Nuh? Bratin ChakravortyCountry Manager-IndiaVix Technology

Destination Type: Adventure, Historical, Weekend Getaway

Highlights: Chuhi Mahal, Sheikh Musa - Shaking Minarets, Nallad water reservoir

Huh, Nuh??!! That was my exact reaction, when I heard about Nuh for the first time. I have lived in Gurgaon for quite some time but was blissfully unaware of Nuh, the district headquarters of Mewat region in Haryana. My family was hunting for a short trip for an upcoming holiday and came up with this place. It lies on the Delhi-Alwar highway, approximately 45 km from Gurgaon. History says that Nuh flourished in salt trade during the reign of Bahadur Singh of Ghasera.

Thus, armed with some information, we drove down the Sohna Road towards Alwar. After the initial cacophony of horns and busy market areas at the fringe of Gurgaon, the road gave way to pleasant driving as the surface was good and smooth. We took about an hour to reach close to Nuh but then, finding the places of historical importance is always a bit taxing. We had to take a U-turn and then, go towards the left to enter Nuh. Thereafter, we drove ahead, repeatedly asking for directions to ‘Chuhi Mahal’- our first destination.

Some tight driving up the extremely narrow streets and over the open fields, took us to the desired spot - Chuhi Mahal’s water tank. It is a big rectangular bathing tank made

out of red sandstone masonry. It has chatris with floral designs. The condition of this tank is still good! The adjoining structure is the Chuhi Mahal. The entry door has collapsed. Some nimble climbing over the rocks and debris allowed me to reach the first floor to view some good lattice work on the walls.

Next, we asked for directions to the natural reservoir in Nallad village at the foot of the Aravalli hills. The imposing gate at the entrance had a mural from the Bhagwad Gita. The water at the reservoir continuously flows out from the rocks of the hills. There is an ancient Shiva temple. Interestingly, it is believed that the Pandavas visited this place during their exile, stayed here and drank the water of the reservoir.

Then, we drove to see the tomb of Sheikh Musa - famous for its shaking minarets. I climbed into one of the minarets and pushed hard against the wall. My dad, who was standing next to the adjacent minaret, felt the shaking! I was extremely glad at the incredible effort!

However, it was sad to note the dilapidated state of the rich, ancient architecture. I fear that these may crumble down in the coming five years or so. The architecture of this tomb was a good blend of the Muslim and the Rajput designs. The tomb complex comprised the ruins of the temple of Hathor. Archaeologists have found Greek and demotic papyri within the temple complex.

I would strongly recommend Nuh to all those interested in history and ancient architecture.

Happy driving!

Travel tips:

• You may want to carry a picnic basket as there are no eating places/ restaurants in Nuh.

• Avoid staying till dark. Make sure that you have a sturdy vehicle with proper air pressure else the car and the passengers will both be sore at the end of the day.

• Make sure you ask for directions and not rely solely on the GPS system.

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Natural water reservoir at Nallad village

The shaking Minaret at Nuh

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PwC News and ViewsWomen at PwCAs Dennis Nally, our Network Chairman and the sponsor of Global Diversity and Inclusion Council puts it, “We recruit a rich diversity of talent every year including talented women. We are thinking about what experiences these women need to get now so that they’re primed for leadership down the road.”

PwC recently conducted a global generational survey to understand our diverse workforce better. This survey highlighted some interesting insights, one of which is that though women in PwC aspire to move to the next level at the same pace as men, only 23 % of them at the entry level and 24 % of them at the mid – level positions have an ambition to occupy partner level positions as their career progresses.

In contrast, 29% of their male counterparts at the entry level and 37% at the mid- level, expressed aspirations for leadership roles. On the basis of the survey results, PwC India took some concrete initiatives to strengthen the business case for diversity, and to better focus on the attraction, retention and advancement of high potential diverse staff.

The following initiatives are likely to have a positive impact on the women representation across the firm.

• Cab facility for the expectant moms– Women employees in their third trimester of pregnancy can take a company reimbursed personal AC cab for commuting between home and office daily.

• Telecommuting– Employees working in their local office most of the time can routinely work one day per week from home.

• Reduced hours- An employee’s work hours are reduced to less than the standard 40 hour work week. However, it involves a prorated reduction in salary and other benefits.

• Flexitime– Employees get an option to start and end the workday outside the ‘normal’ hours of operation.

• Sabbatical Programme- Employees get an opportunity to take leave from their employment for 9 - 12 months without pay.

• Flexible Fridays– All employees can complete their work responsibilities within the first four days of the week and then take the Friday off.

According to our Chairman Deepak Kapoor, “We’ve moved the needle when it comes to women representation in the workforce/leadership but we still have a long way to go.”

We are also planning to start a Women Mentoring Programme in FY 2013-14 to groom high potential female middle management staff to take up senior roles in the firm in the next three to four years.

Some of our women employees spoke about their growth in PwC in the videos below-

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Click the link below to view the video

http://www.youtube.com watch?v=P6ZomIugP8c

Click the link below to view the video

http://www.youtube.com/watch?v=zhdBbqKpH0s

Rekha Bagry, PwC India’s first woman Tax Partner, talks about why following your heart can be the route to success and why it feels great to be the only lady in an all-men’s club!

Janet Gasper Chowdhury, Associate Director has been with PwC Kolkata for over 12 years and has been both a perfect employee and a doting mother. She tells us how her team has pitched in every time and has supported her during challenging times and why PwC India is her preferred employer of choice.

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PwC Alumni Meet- South 13 December 2012

Alumni events 2012Nandini ChatterjeeBrand and Communications Director

PwC hosted over 1000 of our alumni in a series of annual alumni meets this December. The events were organised in Bangalore, Mumbai, Kolkata and Delhi on 13, 14, 21 and 22 December, 2012 respectively. The event was attended by some of our distinguished alumni who attended the events included- Maxy Fernandes, Chief Financial Officer, Clear trip; Luis Miranda, Ex Chief Executive, IDFC Pvt Equity; Anup Vijai, Chief Financial Officer, Contiloe Entertainment; Nitin Gupta, Managing Director, Mcquarie Investment Banking; Anjani Kumar, Head Investment Banking, CIMB; Jignesh Shah, Senior Vice President, IL&FS; Rostow Ravanan, Chief Financial Officer, Mindtree; Krishnan Mundanat, Managing Director, Alltech Biotechnology Pvt Ltd; Bhuvaneshwari Kasinathan, Managing Director, Accenture; Amitava Sen, Head, Corporate Finance, Tata Global Beverages; Anshuman Kankan, Vice President and General Manager, Colt Technology Services; Rajiv Goel, President- Sylvania Global, Havells India Ltd; Prabin K Dokania, Chief Financial Officer, DAAFPL; Puneet Sanwalk, Senior Vice President, Citi Group.

It was heartening to see the deep bond that the alumni members share with the firm

and its people. Alums relived the memories that they shared with their former colleagues and the firm as well as created some new ones. The events were organised solely with the purpose of providing the alumni with a platform to network and have pure and uninterrupted fun.

This year, the highlight of the event was ‘Nostalgia’, a unique collection of 37 stories from the alumni, reminiscing their time spent at PwC. The e-book is available on the webpage of PwC alumni and can be accessed here - http://www.pwc.in/en_IN/in/assets/pdfs/alumni/nostalgia-low.pdf. Additionally alums also carried home photographs with their friends and former colleagues clicked at the instant photo booths which were stationed at each event.

For those of you, who missed the events, click on the links below for pictures from each city:

Delhihttps://www.facebook.com/media/set/?set=a.295747347195571.47553.212804478823192&type=1

Mumbaihttps://www.facebook.com/media/set/?set=a.294746157295690.47416.212804478823192&type=3

Bangalorehttps://www.facebook.com/media/set/?set=a.295445407225765.47517.212804478823192&type=3

Kolkatahttps://www.facebook.com/media/set/?set=a.295396283897344.47512.212804478823192&type=3

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PwC Alumni Meet- North 22 December 2012

PwC Alumni Meet- East 21 December 2012

PwC Alumni Meet- West 14 December 2012

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Vibrant Gujarat 2013

“ ...Gujarat had already acted… acted decisively and effectively. No wonder, many chose to call the Vibrant Gujarat summit –

‘Davos in Action”Narendra ModiChief Minister of Gujarat

As the Knowledge Partner over the last two editions, PwC has been involved with Vibrant Gujrat. From what used to be only an investment attraction event, the forum has evolved into a summit, which focuses on issues such as sustainability, innovation, skill development and knowledge sharing. Moreover, for over two years, PwC India has assisted the Government of Gujarat with strategic and knowledge inputs and supported 11 delegations comprising government and business leaders. These delegations visited 28 countries to showcase investment opportunities in Gujarat and organised more than 125 events in the state, featuring PwC speakers as well as PwC supported sector profiles and knowledge papers.

PwC organised a seminar on Doing Business (from a Tax and Regulatory perspective), and released a paper on Smart Cities at the event. PwC India partners spoke at several events including the Discussion Forums on Sustainability and Corporate Social

Responsibility, International Conference on Defense Offsets, Seminar on Developing Integrated, Smart, Sustainable Cities, and Land use efficiency and Urban Transport.

75 members across all LoS in PwC participated in the summit. Round-the-year promotions culminated with over 58,000 delegates from 121 countries, attending the run-up events and the main summit in January this year.

PwC hosts Tax Symposium 2013

PwC’s Tax Symposium 2013 was held in Jaipur from 7 to 9 February ‘13. The theme of the event was ‘The forum for tax decision makers’ and was attended by nearly 80 leading tax directors and leaders across the country.

The keynote address was delivered by Anil Padmanabhan, Deputy Managing Editor, MINT. He, along with Ketan Dalal, Joint Tax Leader, had interesting discussions on tax policy, economic trends, political outlook and its relevance to India Inc.

The directors and tax leaders from PwC India presented and discussed various topics such as analysis on the New Tax Accounting Standards, taxation of cross border transactions in the e-world, Judicial GAAR and Transfer Pricing in India.

Other interesting topics of discussion included, International Mobility - social security, Tax and Regulatory issues and Tax in boardrooms - Changing paradigm of tax risk management. The session concluded on a non tax topic - Realising one’s own potential to be an Achiever by Farokh Subedar, Chief Operating Officer (COO) and Company Secretary of Tata Sons Ltd.

The dynamic format of this symposium allowed clients to interact and network with industry and tax experts as well as other participants from different companies across various sectors. The two day event saw enthusiastic participation as well as insightful panel discussions and industry sessions, offering great opportunities for networking and information sharing.

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PwC stall at Vibrant Gujarat 2013

Team PwC with Narendra Modi, Chief Minister of Gujarat

PwC Thought Leaderships featured at the Tax Symosium 2013

CEO Summit 2013: Innovation that is ingenious or just indigenous?

PwC along with Business Standard, played host to the CEO Summit held in New Delhi on 18 March 2013 which saw an elite gathering of CEOs and industry heads across a wide array of sectors. The theme of the summit was Seizing the future: Beyond jugaad. The India cut of PwC’s 16th Annual Global CEO Survey report, which highlights the viewpoints of 73 CEOs across the country was also released at the event.

Held at the Taj Mansingh Road, the summit commenced with AK Bhattacharya, Editor, Business Standard, delivering the welcome address to the audience. This was followed by the keynote address by our Chairman Deepak Kapoor, who shared his views on jugaad and its significant role in the Indian economy.

A commonly used term by Indians, jugaad as a concept today, has several meanings and is often used to denote a quick fix or ingenious solution to problems. However, given the resource - constrained environment today, CEOs are now moving beyond their common understanding of the term and focussing on adopting strategies, which address their key innovation needs along with embracing the essence of jugaad.

Welcome Aboard!New Members at PwC

Neil Wilson

Neil Wilson, Chief Operating Officer (COO), PwC India brings along 30 years of professional experience, excelling in the field of operations and management of professional services. He has been outstanding in the capacity of National Tax Leader and COO of the Australian firm and member of the National Leadership team. Neil is a fellow of the Institute of Chartered Accountants in Australia, England and Wales.

Russell Parera

Russell Parera, previously the Chief Executive Officer of KPMG India, will be joining Price Waterhouse in May 2013. Russell will lead the client service to selected clients in India and also lead the initiatives in Assurance Markets and Industries in the PW India Network Firms. With 25 years of experience across varied industries, Russell’s core industry focus has been the financial sector. He has been extensively involved with clients across banks, NBFC’s, asset managers, brokers/dealers and insurance companies.

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Markets and Industry Leader Bharti Gupta Ramola presented the key India specific findings from PwC’s 16th Annual Global CEO survey. She gave an overview of the primary concerns of Indian CEOs in the current business environment, their perspective on growth prospects coupled with the revival of the economy in the coming year along with highlighting the key strategies chalked out by them for the near future.

The panellists deliberated on certain issues reflected in the survey report such as

growth barriers, key pain points, spiralling costs, strategies to tackle these obstacles as well as the relevance of jugaad in the Indian economy.

The session saw active participation by the delegates, who asked thought-provoking questions to the panellists during the discussion.

The evening concluded with a closing address by Satyavati Berera, Regional Managing Partner - North after which the guests proceeded for dinner and cocktails.

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Harsh Chitale, Chief Executive Officer, Hindustan Computers Limited Infosystems; Aditya Ghosh, President and Executive Director, Indigo; Rajiv Chopra, Chief Executive Officer, Philips Electronics India Ltd and Deepak Kapoor, Chairman, PwC. The panel discussion was moderated by A.K. Bhattacharya.

• Indian Aviation: Spreading its wings (http://www.pwc.in/publications/latest-publications.jhtml) The report elaborates on the size of the defence market in India; the government’s defence budget; the 30% offset clause, the Defence Production Policy, espousing indigenisation and self-reliance, which seems promising for the private defence industry.

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Indian aviation: Spreading its wings

www.pwc.in

Aero India, February 2013 Foreword p2/Opportunities and challenges p6/Tax and regulatory framework p22/Building a domestic aerospace industrial base p28

Navigating growth amidst challengesUnion Budget 2013

The Indian consumer sectorWhat’s the deal?

www.pwc.in

A significant portion of deals fail in the due diligence phase, largely due to misalignment around valuation expectations and businesses not being prepared for a transaction. In our experience between 50-60%1 of deals that go into due diligence in emerging markets fail to complete. To ensure that more deals are converted, preparation is seen as a vital stage in the deal making process. Corporates (whether they are buyers or vendors) are recognising the need to invest time preparing for a deal, prior to approaching the market.

In this paper we focus on the some of the areas corporates in the consumer sector need to consider when preparing for a domestic or overseas acquisition. We also highlight the areas that shareholders and management teams must look at when preparing for an equity divestment or raising funds.

1. PwC, ‘Leveling the playing field: avoiding the pitfalls of the past when doing deals in emerging markets’ (2012)

Leveraging ITTransforming the T&L sector

www.pwc.in

www.pwc.in

Tax Glimpses - 2012 • Leveraging IT: Transforming

T&L sector (http://www.pwc.in/publications/latest-publications.jhtml)It is a brief report on the role of IT in improving the efficiency of the supply chain and meeting the ever-rising expectations of the user community.

• The Indian Consumer Sector: What’s the deal (http://www.pwc.in/publications/latest-publications.jhtml) The paper focuses on the areas, which the corporate in the consumer sector need to consider, when preparing for a domestic or overseas acquisition. It also highlights the areas that the shareholders and management teams must look at while preparing for an equity divestment or raising funds.

• 16th Annual Global CEO Survey - the view from India (http://www.pwc.in/en_IN/in/global-ceo-survey-2013/index.jhtml) Find out what leading Indian CEOs think about the prospects of the Indian economy over the next 12 months

• Tax Glimpse-2012 (http://www.pwc.in/publications/latest-publications.jhtml) It is a brief analysis of the pertinent judgements and noteworthy regulatory developments in corporate tax, mergers and acquisitions and indirect tax in 2012

• Union Budget 2013 (http://www.pwc.in/budget/index.jhtml) Click on the link to access the webcasts, reports, highlights and expert analysis on the implications of the Budget on the - Financial Services; Education; Aerospace and Defence; Telecom and Oil and Gas sectors.

Home ConnectThought Leaderships

PwC Thought Leaderships

www.pwc.in

Seizing the futureAdapt to thrive

16th Annual Global CEO Survey - The view from IndiaMultiple futures p4/What worries Indian CEOs the most? p6/What are VUCA times? p9

Strengthening the bridge called trust p16/Agenda for action p17

1,330 CEOs in 68 countries

73CEOs in India

38% of CEOs in India expect the global economy to improve in the next 12 months

www.pwc.in© 2013 PricewaterhouseCoopers Private Limited. All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers Private Limited (a limited liability company in India), which is a member firm of PricewaterhouseCoopers International Limited (PwCIL), each member firm of which is a separate legal entity.

AK469 - March 2013 PwC Connect.indd

Designed by: PwC Brand and Communications, India

North

Satyavati BereraEmail: satyavati.berera@in.pwc.com

Regional Managing Partners

West

Ketan DalalEmail: ketan.dalal@in.pwc.com

South

N V SivakumarEmail: n.v.sivakumar@in.pwc.com

East

Debdas SenEmail: debdas.sen@in.pwc.com

Home ConnectThought Leaderships

About PwC PwC* helps organisations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services.

PwC India refers to the network of PwC firms in India, having offices in: Ahmedabad, Bangalore, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune. For more information about PwC India’s service offerings, please visit www.pwc.in.

*PwC refers to PwC India and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.

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