Deloitte’s new Indian-origin Global CEO took 24 years to become an overnight success

Punit Renjen, the first Indian-born American who has been recently appointed as global CEO of Deloitte, is the one who has expressed his happiness over a renewed sense of optimism that came after the Narendra Modi government’s apointment.

In an exclusive interview to Economic Times, he said, "India's fastest growth among the BRICS nations has changed the conversation to one of heightened expectations.”

The 53-year-old moreover carries his optimism, which is clearly visible in a worldview riding on the US recovery, China growing at 7% and low oil prices, despite a shade of grey hanging around with the Greek loan default and the Russian currency depreciation.

"Ten years ago, India was a cost arbitrage play; today, it is a talent arbitrage opportunity," he says while echoing PM Modi's clarion call for making India the human resource capital of the world.

Deloitte today serves 79% of the Fortune Global 500 companies, including 92% of Technology, Media & Communications companies, 87% of Financial Services companies, and 87% of Consumer Business companies. In addition, it also serves the most competitive countries as ranked by the World Economic Forum, the most effective governments according to the World Bank, and all the members of the G20.

The four leading companies in the market— Deloitte, EY, KPMG and PwC share an extremely new equation. Commenting on the sometimes rocky relationship between the big four and the regulators, Renjen feels happy "to engage with regulators and provide perspectives in a respectful way...what the regulations demand of us, we will flow".

Talking about his journey Renjen said, "As I progressed in the firm, I learnt the craft, and as I learnt my craft, my partners and the firm threw up different opportunities. After I took over as CEO of the US consulting firm, one of my peers sent me a mail that said, 'It just took you 24 years to become an overnight success'. I have put in my work all of 29 years, and that's the principle I have built my career on."

image: indiatimes