New Delhi: Global tax, valuation and financial advisory firm Anderson will scale up operations in India to tap emerging opportunities in emerging industries and grow its global headcount from India by at least 10%, said global president and head Mark L. executive officer of Vorsets Andersen said in an interview.
Vorsat said telemedicine, education and cyber security are the key areas of future growth in the Indian industry. Vorsatz said Anderson is also in the process of launching a new arm, Anderson Consulting, which will also tap into the pool of Indian professionals.
Vorsatz said the group has a presence in 174 countries and continues to grow. Rakesh Nangia, president of Nangia Andersen LLP, which is a member of the Andersen global conglomerate, said the only two markets where the organization was not geographically present were China and Japan, and talks were on to establish a presence there. “We will be there very soon,” Nangia said.
Vorsatz said the opportunities that India offers are unparalleled. “India has been a high growth market for us,” he said, adding that the organization has also seen strong growth in markets such as Nigeria.
“I used to say that if I spend a dollar, I’ll spend it in New York City. Today if I have a dollar to spend, I’ll spend my first dollar in Silicon Valley and my second dollar in India Because I think, the demographics and growth potential of the economy here in India is unparalleled in the world.”
Vorsatz said telemedicine and cyber security are key areas where India will see huge growth and the country offered massive advantages in terms of educated workforce and labor market. The cooperation and geopolitical factors between India and America were also in India’s favor. “You see more and more American companies that have left China … we see more and more companies expanding into India,” he said.
Worsatz said he wouldn’t be surprised if at least 10% of Anderson’s global growth would come from India. “If you look at the workforce, I would expect probably 10% of our growth in workforce to come out of India globally. I don’t mean that in back office services. I mean Frontline Value Services.”
“I think we will see a geometric growth of inbound investments over the next five or ten years,” he said. He said that opportunities in India are less labor oriented and more knowledge oriented.
Anderson in the US was founded in 2002 by 23 former Arthur Andersen partners named WTAS. In 2014, WTAS announced that it had acquired the rights to the brand name Anderson and would rename itself Anderson Tax. In 2019, Anderson became Tax Anderson. Worsatz co-founded the firm under the name WTAS in 2002. “We are a global organization. Our partners think globally and act locally. That approach has enabled us to grow exponentially as we have a presence in 174 countries today.”
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