Monday, 29 September 2025: GIFT City is fast emerging as a rising global financial and technology hub, with nearly half (49%) of senior executives surveyed indicating very high growth potential for the region’s role as a hub for the Banking, Financial Services and Insurance (BFSI) sector, according to PwC India’s latest report titled, “Moving the needle on Gujarat’s GIFT City.”

The survey of 200 respondents reveals strong interest from businesses to establish or expand operations in GIFT City, with 63% of senior executives expressing intent to relocate or set up business operations there.

Sanjeev Krishan, Chairperson of PwC India said, “GIFT City represents a transformative opportunity for India to strengthen its position in the global financial services and technology ecosystem. While the region has already made significant strides, bridging gaps in talent availability, lifestyle infrastructure and ecosystem maturity will be key to unlocking its full potential. We are actively guiding clients on how to leverage GIFT City’s advantages — from evaluating business models to regulatory navigation and talent strategies. This is the moment to build on the strong policy framework and create a thriving global hub that reflects the ambitions of kal ka Bharat.”

While 77% of executives believe finance and technology talent is available in GIFT City, the demand for specialised roles — including blockchain, cloud security, risk technology and global regulatory compliance — is rapidly growing. Gayathri Parthasarathy, Partner and Leader – Financial Services, PwC India said, “Our survey findings show that GIFT City is gaining enormous traction as a rising global financial and tech hub, and businesses are incredibly optimistic about GIFT City’s future. As the ecosystem matures, with the right talent and regulatory impetus, GIFT City can be the nucleus for India’s next wave of BFSI and technology innovation.”

Clients increasingly view GIFT City not just as a regulatory or tax-friendly jurisdiction, but as a long-term strategic base to serve global markets, build innovation capabilities and attract high-quality talent. The city is becoming a test bed for next-generation financial services and technology models, where global institutions and Indian enterprises alike can co-create solutions for the future. As India accelerates towards the vision of kal ka Bharat, GIFT City stands out as a symbol of what’s possible when policy, innovation, and global ambition come together.

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Commenting on the trends driving the growth in the tyre market, Kavan Mukhtyar, Partner and Leader – Automotive, PwC India, said, “India’s journey towards Viksit Bharat 2047 presents a huge opportunity for the tyre industry, not only to meet the aspirations of its domestic customer base but also to exponentially scale up tyre exports, especially in the commercial vehicle and passenger vehicle segments across key markets like the US and EU. Emerging consumer trends and mobility shifts, a dynamic global business environment, and sustainability imperatives present a unique opportunity for the Indian tyre industry to transform itself and drive sustainable growth through 2047. Innovating at speed for global markets through advanced material engineering, finding sustainable alternatives for natural rubber, and addressing sustainability imperatives throughout the value chain will be key to unlocking growth potential for the industry. Additionally, brand strengthening in export markets and investing in digital technologies across the value chain will be essential to drive productivity and a sustained global competitive advantage.”

Arun Mammen, Chairman, Automotive Tyre Manufacturers’ Association (ATMA), said, “The Indian Tyre Industry stands at the cusp of a transformational journey, driven by rapid economic growth, evolving mobility trends, and an expanding global footprint. The findings of the ATMA-PwC report underscore the industry’s immense growth potential, with revenue projected to grow 12-fold by 2047. This growth will be fueled by a shift towards premiumization, sustainability-led innovation, and a strong focus on technology and exports. As we move towards ‘Viksit Bharat 2047,’ the Tyre Industry is poised to play a pivotal role in enabling India’s automotive ambitions to build a resilient and future-ready sector.”

PwC India has proposed a CHARGE framework, which is a strategic approach designed to help the tyre industry achieve its 2047 vision by focusing on six levers: Customer relevance, High-quality standards, Adaptability, Resilience, resource efficiency and sustainability, Growth through innovation, and Empowering alliances and partnerships. This framework emphasises offering customer-centric value propositions, enhancing agility in responding to market trends, adopting futuristic technologies to drive continuous quality improvement, cost competitiveness and operational efficiency improvement, driving cutting edge and rapid global innovation, and forging strategic partnerships/ alliances to deliver on industry growth aspirations.

Sanjay Dawar, Partner and Leader – One Consulting, PwC India said, “The Indian tyre industry is at an inflection point, with the potential to create significant economic value and strengthen India’s global competitiveness. Achieving this twelve-fold revenue growth will require a holistic approach — one that brings together innovation, sustainability, digital transformation, and strong partnerships across the ecosystem. At PwC, we are committed to working alongside industry stakeholders to co-create strategies that can accelerate momentum, build resilience, and help realise the Viksit Bharat 2047 vision.”

Key highlights:

1. Rising economic activity from infrastructure spend and strong domestic consumption will drive OEM and replacement tyre revenue by ~10% CAGR till FY47. Robust passenger vehicle (PV) and two- wheeler (2W) sales led by improving per capita income, rising commercial vehicle CV sales led by strong infrastructure spending and consumption demand is expected to drive OEM tyre demand. Increased people mobility and freight availability is expected to support replacement tyre demand. Domestic natural rubber availability and disruptive mobility options like vertical take-off and landing (VTOL) are among key factors posing challenges for growth of domestic tyre demand.
2. The export market for Indian tyres is set to expand significantly by FY47, with targeted interventions enhancing India’s export market position. Adopting export centric growth strategies supported by market and use case specific innovations, improved market access through newer Free trade agreements, improved cost competitiveness and brand positioning especially in PV and CV tyre segments will be among key factors aiding acceleration of exports. Ensuring sustained and cost competitive availability of natural rubber, dynamic regulatory environment, non-tariff barriers will be among key challenges for growth of exports.
3. Exponential adoption of professional tyre management services among fleet operators will drive the servitization market through FY47. Increased recognition of importance of managing tyre health, end customer demand for TPMS ready fleets etc is likely to drive demand for services like professional periodic tyre management, Tyre advisory, optimal fleet management solutions. Tyre companies will need to find economically viable solution to scale and manoeuvre data security and regulatory issue to reach servitization potential.

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Diagram-1: The nine domains of growth

Bengaluru, Friday, 7 July 2025: Megatrends such as climate change, demographic shifts and technological disruptions are creating new avenues for value creation that transcend traditional industry boundaries. Amid this scenario, businesses are rapidly diversifying to capitalise on the evolving landscape. However, to navigate this transformation effectively, they require a fresh approach to identify where and how to diversify in order to seize value in motion. To support this need, PwC has developed a domain-based framework designed to guide strategic-decision making in this new era.

According to PwC India’s report, ‘Navigating the value shift’, Indian businesses can unlock USD 9.82 trillion in gross value added (GVA) by 2035 by tapping into these growth domains. Domains represent markets where businesses go beyond traditional sector boundaries to address fundamental human and industrial needs. Value within these domains is created through collaboration across ecosystems and interconnected value chains. By integrating diverse economic sectors, domains open up new avenues for growth, enabling a diverse range of companies to participate and thrive.

“India CEOs are already responding to these shifts. In PwC’s 28th Annual Global CEO Survey: India perspective published in January 2025, 40% of India CEOs stated that their companies have entered at least one new sector in the past five years, with half of them generating up to 20% of their revenue from these new ventures,” said Sanjeev Krishan, Chairperson, PwC in India. “But to sustain momentum and unlock full value, businesses must move beyond ad hoc diversification. A domain-led lens that goes beyond the sector-led approach provides a powerful way to reimagine capabilities, collaborate across ecosystems, and build future-ready business and revenue models.”

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Bengaluru, 16 December, 2024: PwC India today announced the launch of a trust barometer for the non-life insurance industry to help them evaluate their performance in embedding, enabling, and evoking trust across their business lifecycle. The barometer fills a critical gap by providing insurers with a tool to assess their performance in building trust with policyholders, who rely on timely support during distressing situations like accidents, illness, and hospitalisation.

Developed from publicly available information, the trust barometer, with over 50 parameters, serves as a diagnostic tool to help companies evaluate their performances across the three stages of embedment, enablement and evocation within the trust lifecycle. It can be used to assess how well insurers are integrating trust-building practices into every aspect of their strategy and operations (embedment), creating accessible and customer-friendly experiences (enablement), and ensuring regulatory compliance to inspire confidence among stakeholders (evocation).

Commenting on the barometer, Amit Roy, Partner and Leader – Insurance and Allied Businesses, PwC India said, “Trust is the cornerstone of the insurance industry, shaping relationships between insurers and stakeholders. Using a scientific tool like the trust barometer, we can empower non-life insurers to take a strategic approach to trust-building by identifying gaps in their current practices and designing targeted solutions. By embedding trust into every aspect of their operations, insurers can not only enhance stakeholder confidence but also drive long-term growth and competitive advantage.”

Raghav Narsalay, Partner and Leader – Research and Insights Hub, PwC India said, “PwC India’s trust barometer is built on robust and scientific methodology, leveraging carefully defined parameters to provide a comprehensive evaluation of trust across the non-life insurance lifecycle. By combining qualitative insights with data-driven analysis, the barometer offers insurers a precise diagnostic tool to measure their performance, identify gaps, and build actionable strategies for fostering trust with their stakeholders.”

While trust is strategically relevant for the growth of the insurance industry, it’s always been a challenge to measure it scientifically and systematically – from a lifecycle perspective. The trust barometer can help the non-life insurance industry diagnose its performance on the trust lifecycle across three primary areas:

• Organisational philosophy, values and strategy – focusing on investigating the actions taken by the insurer to embed trust into its business strategies, policies, business and operational practices.
• Customer experience – focusing on examining the measures taken by the insurer that enable trust with customers, and the responses of customers.
• Regulators/quasi-regulators’ perspective – factoring in the response the insurer’s performance in areas of embedding and enabling trust evokes from regulatory and quasi-regulatory bodies.

Assessments based on the trust barometer can be used to identify and highlight the current gaps/strengths in the strategies, policies, business and operational practices of the insurer towards building trust at the level of individual insurers. It will also help outline the actions to be taken by the insurer to leverage trust for gaining and sustaining market leadership.

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In light of the Indian government’s announcement to launch the IndiaAI Mission and its investment in building a robust AI ecosystem, the moment is ideal for businesses to harness the potential of GenAI. Speaking about the collaboration with Meta, Sanjeev Krishan, Chairperson of PwC India, said, “We are excited to partner with Meta to explore the transformative potential of Generative AI in accelerating India’s growth trajectory. With Llama Models, we see a unique opportunity to democratise this technology across industries, and drive innovation while solving real-world challenges. Together, we aspire to create a more digitally enabled future for our clients and our communities – to create value and drive meaningful change at scale.”

This strategic collaboration will help PwC India and Meta to democratise GenAI and make it more accessible to businesses by jointly building and deploying enterprise-grade and citizen-service GenAI solutions. The collaboration aims to create an ecosystem of GenAI solutions that will be built on Meta’s technical expertise and powerful Llama open-source platform along with PwC India’s domain expertise.

Sandhya Devanathan, Vice President and Head, Meta India said, “Gen AI solutions, including Llama are poised to revolutionise India’s businesses and accelerate the country’s digital transformation journey. By harnessing the power of natural language understanding and generation, Llama can unlock new efficiencies, enhance customer experiences, and drive data-driven decision-making. As India strives to become a leading digital economy, Gen AI will be instrumental in empowering businesses to innovate, scale, and compete on a global stage. We believe that this technology has the potential to create a paradigm shift in India’s digital landscape, and we are committed to working with stakeholders to ensure its widespread adoption and impact.”

Vivek Belgavi, Partner & Leader – Alliances & Ecosystems, PwC India said, “We are excited to collaborate with Meta to build together on Llama. This partnership marks an important step towards providing our clients with innovative ways to leverage GenAI while unlocking new avenues for efficiency and creativity. By reimagining business operations, PwC India and Meta are setting the stage for transformative growth and operational excellence.”

This collaboration also builds on the work done by PwC India for the GenAI Lab, which is dedicated towards bringing new ideas and solutions leveraging GenAI to both PwC employees and clients. PwC India and Meta will also jointly offer advanced Gen AI capabilities to their customers. This distinctive combination of consulting advisory and technological expertise will enhance the firms’ market relevance for enterprises and institutions seeking powerful, secure and ready-to-deploy Generative AI solutions at their endpoints.

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This collaboration aims to accelerate digital transformation for enterprises by leveraging SAP’s cutting-edge technologies and PwC India’s extensive industry expertise. Through the entre of Excellence for SAP® Business Technology Platform, PwC India will be able to deliver significant benefits to enterprise customers in India, including faster time to market, and the ability to customise cloud-based technologies to fit their business needs. It will also help enterprise clients harness the full potential of SAP BTP to innovate on top of their installed SAP systems, by extending and integrating new applications and systems on SAP BTP. Starting with the Import Export Manager, which has been developed by the PwC India team in SAP BTP for public cloud customers, PwC India will provide a comprehensive trade management tool. This solution streamlines export and import processes by automating compliance, improving documentation accuracy, and offering real-time visibility into trade transactions.

Commenting on the launch, Sudipta Bandyopadhyay, Partner and SAP Alliance Leader, PwC India said, “Indian businesses are digitally transforming with SAP solutions and related technologies. This launch of the Centre of Excellence for SAP® Business Technology Platform will enable clients to customise SAP applications, empowering the business users to connect processes, make decisions with confidence and significantly accelerate business innovation.”

Vivek Belgavi, Partner and Leader – Alliances and Ecosystems, PwC India said, “Digital transformation has impacted all industries and continues to significantly alter how companies conduct their business. With this collaboration, PwC India can provide a seamless foundation for digital innovation across business functions and drive sustainable growth and enhanced efficiency for its clients.”

As business processes increase in complexity, the demand for swift implementation of innovative solutions has intensified. In recent years, PwC India has developed numerous industry solutions and assets using the latest technologies to drive digital transformation for its clients. These solutions are highly scalable and adaptable, effectively addressing crucial gaps in industry processes, sustainability, and technical migration.

Nitish Agrawal, Chief Partner Officer, SAP Indian Subcontinent, added, “This announcement highlights a strategic move to enhance digital transformation through the establishment of a Centre of Excellence for SAP® Business Technology Platform in collaboration with PwC India. Together, we aim to drive AI-led innovation, promote a culture of knowledge and collaboration, and implement standardised processes. This initiative will help our customers maximise their technological investments, ultimately leading to substantial business improvements and the significant benefits offered by SAP BTP.”

The Centre of Excellence for SAP® Business Technology Platform is focused on driving digital transformation by providing expert advisory services, comprehensive training programs, and tailored industry-specific solutions. This initiative also fosters a collaborative ecosystem, bringing together PwC India, SAP, and industry leaders to innovate and address unique business challenges.

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With the use of Microsoft Copilot for Security-a generative AI powered security solution, enterprises can leverage Microsoft’s large-scale data and threat intelligence security graph with PwC’s secure system rebuilding and broader incident management capabilities. In addition, faster eviction of threat actors can be achieved with Microsoft Incident Response swiftly identifying and evicting bad actors, while PwC India focuses on rebuilding mission-critical systems securely.

Commenting on the collaboration, Terence Gomes, Partner, PwC India said, “We are moving toward a future where AI and machine learning will become integral in optimising security operations. Not only can we significantly reduce the incident response time but can also rapidly process large volumes of data to provide key insights to strengthen the enterprise’s overall security posture. With this collaboration we will empower our clients to predict, prevent, and respond to security threats with confidence.”

Anand Jethalia, Country Head, Security, Microsoft India, said, “With the increasing speed, scale and sophistication of cyberattacks, organizations face an increasingly complex cybersecurity landscape. Our collaborating with PwC will enable customers to stay resilient by leveraging Microsoft’s tech and AI innovations and empowers enterprises to tackle threats at the speed and scale of AI.”

Cyber threats are constantly evolving, increasing in volume, intensity and complexity. PwC India assists clients in managing the entire incident lifecycle, including exporting, crisis management, and recovery strategy. PwC India’s collaboration with Microsoft India provides clients access to threat intelligence to solve complex problems arising from breaches. Clients will also be able to leverage PwC’s global presence enabling teams to mobilise quickly, whether remotely or on-site.

Vivek Belgavi, Partner and Leader – Alliances and Ecosystems, PwC India said, “As per PwC India’s CEO Survey, cyber risk was identified as one of the top three key threats in the next 12 months by Indian CEOs. We believe that AI-based tools like Copilot can help reduce a disadvantage for cyber teams overwhelmed by the sheer number and complexity of human-led cyber attacks, both of which are on the rise. With this collaboration, PwC India can help our clients improve security posture management, incident response and security reporting.”

PwC India can support in-house threat intelligence capabilities by building new data feeds, collecting, analysing, and distributing timely details on potential attacks and providing global visibility on the threat landscape. With Microsoft Copilot for Security, PwC India can help clients better understand their risk profile, make informed decisions and mitigate new threats.

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