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Digital Natives
Unlock growth with Grant Thornton Bharat's Digital Natives solutions. Customised support for tech-driven companies in healthcare, gaming, and more.
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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
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Grant Thornton’s digital transformation services help traditional businesses digitalise their business models with cloud technology, IoT consulting, app development and more DigiTech solutions.
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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.
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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.
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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.
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Tech Advisory
We have amalgamated Digital Transformation, IT Advisory & Information Management and Analytics into a new offering, DigiTech.
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Our tax specialists offer a comprehensive blend of tax services, tax litigation, regulatory and compliance services, helping you navigate through complex business matters.
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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
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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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.
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The India Knowledge and Capability Centre (IKCC), aimed at delivering solutions by developing capabilities, has completed four years of its journey.
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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.
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GTMitra, a specialised tax and regulatory tool by Grant Thornton Bharat, supports multinational businesses in understanding laws and regulations for effective growth strategies.
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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.
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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.
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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
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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.
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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.
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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.
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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.
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Grant Thornton Bharat offers specialist debt and special situations consulting services, including restructuring, insolvency, and asset tracing solutions.
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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.
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India-UK
India-UK
The origin of the Digital Personal Data Protection Bill 2022 (DPDB) predates the Puttuswamy judgment and can be traced back to 2008 when the idea was first proposed in the Indian Parliament. This led to the introduction of Section 43A under the Information Technology (Amendment) Act, 2008. On 18 November 2022, the Ministry of Electronics & Information Technology (MeitY) issued the draft of the Digital Personal Data Protection Bill 2022 (DPDB). Earlier, on 4 August 2022, MeitY withdrew the Data Protection Bill 2021 based on substantial recommendations for amendments from the Joint Committee.
When looking at data protection practices worldwide, we can categorize them into three broad approaches. The first approach is the laissez-faire method, followed by the United States, which lacks an overarching data protection framework. The second approach is functional in the European Union, with the enactment of the European Union's (EU) General Data Protection Regulation (GDPR) replacing the Data Protection Directive 1995. The GDPR is a comprehensive legal framework that deals with all kinds of personal data processing and delineates the rights and obligations of parties in detail. It is both technology and sector-agnostic, drawing fundamental norms to protect the privacy of Europeans, making it more comprehensive than the approach in the United States.
China has followed the third approach by accelerating its efforts to establish a legal architecture for data protection over the past five years. China passed the Personal Information Protection Law in 2021, significantly impacting how companies collect, store, use, and transfer data. These laws grant the Chinese Government overreaching powers in data collection and regulate private companies that collect and process information. While these laws grant Chinese consumers the right to access, correct, and delete their data, they differ from the EU's GDPR as they fail to emulate the guiding principle that privacy is a fundamental right.
The Indian approach to data protection has tried to incorporate aspects of both the Chinese and GDPR models. The Data Protection Bill, 2021, included provisions on data localization, which restricted the transfer of sensitive and critical personal data. The Digital Personal Data Protection Bill (DPDB), 2022, has significantly improved by attempting to balance industry concerns regarding compliance and operational costs of data localization. This has been achieved by allowing cross-border data flow to "countries and territories" as notified by the Central Government. The DPDB is a significant improvement over its predecessors as its underlying principles align with the GDPR, which has shaped data protection legislation in over 160 countries. While both GDPR and DPDB refer to the natural person whose data is being processed, they use different terms ("data subject" in GDPR and "data principal" in DPDB). Both also have similar provisions for data controllers (referred to as "data fiduciaries" in DPDB) and data processors. The provisions are the same; only the terminology differs.
Despite these similarities, there are multiple differences as well. The DPDB, 2022, has jurisdiction over the processing of digital personal data within India's borders, as well as the processing of digital personal data outside of India if it involves profiling or offering goods or services to data principals within India’s borders. As a result, the scope of DPDB is narrower than that of the GDPR, which not only covers digitally stored data but also physically stored data under its purview. In terms of conceptualizing penalties, although the DPDB performs better than its predecessor, it falls short of the GDPR norms and the data protection laws in China. The quantum of penalties imposed under the act has a cap of Rs. 500 crore, unlike the GDPR or Chinese laws, where fines/penalties for offenses can be prescribed amounts or a percentage of total worldwide turnover. However, this gap in terms of the quantum of fines can be bridged through robust and effective implementation, which is preferable to introducing stricter and more stringent penalties.
The new bill also considers the techno-legal solution provided by the Data Empowerment and Protection Architecture (DEPA), which allows individuals to exercise their data rights through a consent-based data-sharing system. Moving forward, the bill is expected to undergo a greater level of stakeholder consultations and expert reviews. The new DPDB 2022 aims to develop a comprehensive framework of laws for digital ecosystems, data protection, and privacy. However, there are concerns regarding the specific ambitious provisions of the new bill and critical gaps in implementation guidelines. In the future, the DPDB must address essential aspects such as the right to data portability and the right to be forgotten, which have been overlooked in the new bill but are given serious consideration by global data protection laws and authorities. It is still too early to comment on how the government will address these challenges, but the new DPDB has injected renewed vigor into India's data protection laws.