As 2022 unfolded, the US engineering and construction industry experienced a robust start, buoyed by an impressive 8% growth in construction spending in 2021. This backdrop set the stage for Deloitte’s strategic maneuvers in India, where the firm has been focusing on significant workforce expansion and technological upskilling.
In recent months, Deloitte announced plans to hire 50,000 professionals in India, marking a bold step in its expansion strategy. This decision reflects the company’s commitment to enhancing its capabilities and addressing the growing demand for skilled professionals in the market.
Amid this hiring spree, Deloitte has also prioritized training, having already equipped nearly 30,000 employees with skills in artificial intelligence (AI). This initiative is part of a broader effort to transition thousands more to work with the firm’s internal platforms, ensuring that they are well-prepared to tackle higher-order value problems.
Nitin Kini, Deloitte’s South Asia COO, emphasized the importance of upskilling in AI, stating, “It is about upskilling and making sure that we can solve higher-order value problems with emerging tech.” This focus on AI training is crucial as companies increasingly seek to protect their intellectual property and ensure data security.
However, the landscape of executive compensation in India is evolving. The median CEO pay has reached ₹10.5 crore for FY2025–26, reflecting a modest 5% year-on-year increase. In contrast, CFO compensation has surged to ₹4.5 crore, marking the highest increase among CXOs, as CFOs become increasingly sought after due to high attrition in finance roles.
Anandorup Ghose noted the correlation between the underperformance of Indian equity markets and the slowdown in pay increases, stating, “Given the ongoing underperformance of Indian equity markets… it is natural that pay increases were lower last year.” This shift indicates a move away from uniform reward structures in executive compensation design, with companies placing greater emphasis on internal performance metrics.
As Deloitte navigates these changes, it continues to invest 9% of its top line into capability and capacity building, as well as innovation. This investment is essential for maintaining competitiveness in a rapidly changing business environment.
Despite the positive strides in workforce development, concerns around AI-led job losses persist. Deloitte aims to address these by focusing on efficiency rather than workforce reduction, ensuring that employees are not left behind in the technological transition.
As of now, Deloitte stands at a pivotal juncture, balancing its ambitious hiring goals with the need for responsible workforce management. The company’s efforts to train its employees in AI and expand its workforce reflect a proactive approach to the challenges and opportunities presented by the evolving business landscape.
Details remain unconfirmed regarding the exact impact of external factors, such as the Infrastructure Investment and Jobs Act, on the broader construction industry. Nevertheless, Deloitte’s commitment to growth and innovation in India is clear, positioning it as a leader in the region.
