Devina Sengupta
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National Editor @Livemint . Past @EconomicTimes. Storyteller via print/podcast/video & 🧵📧devina.sengupta@livemint.com
Articles by Devina Sengupta
India Inc braces for muted salary hikes in 2027 as costs rise, hiring slows
India Inc is bracing for muted salary hikes in 2027 as rising costs, geopolitical uncertainty and a sluggish job market squeeze compensation budgets, with bigger rewards likely to be reserved for top performers, according to hiring experts. Higher crude oil prices amid the West Asia conflict, inflation that surged to a two-year high in September, the Reserve Bank of India’s rate increase and changing attrition trends are converging to complicate salary decisions.
India Inc braces for muted salary hikes in 2027 as costs rise, hiring slows
New Delhi, Oct. 20 -- India Inc is bracing for muted salary hikes in 2027 as rising costs, geopolitical uncertainty and a sluggish job market squeeze compensation budgets, with bigger rewards likely to be reserved for top performers, according to hiring experts. Higher crude oil prices amid the West Asia conflict, inflation that surged to a two-year high in September, the Reserve Bank of India's rate increase and changing attrition trends are converging to complicate salary decisions.
Festive hiring to rise 10-15% despite consumption woes, bonuses may shrink
New Delhi, Oct. 15 -- Bengaluru, Mumbai : India's biggest hiring season is here, but a consumption slowdown is clouding the outlook for festive recruitment in the organized sector. Yet seasonal hiring of contract and gig workers is expected to rise by 10-15% year-on-year, staffing agencies say, as e-commerce, consumer, logistics and auto companies pull out all the stops to drive sales amid a weak monsoon, inflation and tighter household budgets.
Festive hiring to rise 10-15% despite consumption woes, bonuses may shrink
BENGALURU,MUMBAI : India’s biggest hiring season is here, but a consumption slowdown is clouding the outlook for festive recruitment in the organized sector. Yet seasonal hiring of contract and gig workers is expected to rise by 10-15% year-on-year, staffing agencies say, as e-commerce, consumer, logistics and auto companies pull out all the stops to drive sales amid a weak monsoon, inflation and tighter household budgets.
Jio IPO puts its ambitions beyond telecom to the test
Mumbai: When Jio Platforms Ltd announces the price band for its initial public offering, it will need to convince investors that its new, frontier digital businesses can justify a valuation beyond what its telecom operations alone would command. The company is seeking an IPO valuation of ₹11 trillion, or about $114 billion, lower than its earlier expectation of $120 billion–140 billion.
How Jio got to a $3.2bn IPO in 10 years flat - and what lies next with AI
New Delhi, Oct. 14 -- Mumbai: When Jio Platforms Ltd announced the price band for its initial public offering on Wednesday, it was an honest nod to equity markets roiled by two wars. It plans to raise around Rs.30,200 crore, or about $3.2 billion, at the upper end of the Rs.1,069-1,119 price band announced per share. The company is seeking an IPO valuation of just over Rs.10 trillion, or about $107 billion, lower than its earlier expectations.
Pay for performance: How India's staffing model is getting a makeover
New Delhi, Oct. 7 -- India's staffing industry is moving beyond providing workers to taking responsibility for what they deliver. This helps the client tackle inefficiencies while giving vendors scope to charge higher fees. Three of India's largest staffing firms - Quess Corp, TeamLease Services and Adecco- which together provide about a million workers to clients on a contract basis, are seeing demand for "output-based billing" instead of a flat-fee structure.
Pay for performance: How India’s staffing model is getting a makeover
India's staffing industry is moving beyond providing workers to taking responsibility for what they deliver. This helps the client tackle inefficiencies while giving vendors scope to charge higher fees. Three of India's largest staffing firms – Quess Corp, TeamLease Services and Adecco– which together provide about a million workers to clients on a contract basis, are seeing demand for “output-based billing” instead of a flat-fee structure.
Big Four alumni build boutique consulting rivals, targeting startups, PE and VC firms
New Delhi, Oct. 1 -- A fresh crop of advisory firms has sprung up in India amid intensifying competition in the sector and the changing nature of work in consultancy services. Squeezed between the established Big Four and management strategy consulting companies, these mid-tier consulting companies have chalked out a different strategy-offering specialized services to startups and private equity and venture capital firms that are more likely to tap the new cohort.
Big Four alumni build boutique consulting rivals, targeting startups, PE and VC firms
A fresh crop of advisory firms has sprung up in India amid intensifying competition in the sector and the changing nature of work in consultancy services. Squeezed between the established Big Four and management strategy consulting companies, these mid-tier consulting companies have chalked out a different strategy—offering specialized services to startups and private equity and venture capital firms that are more likely to tap the new cohort.
Big Four alumni build boutique consulting rivals, targeting startups, PE and VC firms
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Alvarez & Marsal eyes 10X India growth in six years: MD Luis de Lucio
Consulting firm Alvarez & Marsal's (A&M's) India business is exploding: revenue is set to jump from $35 million in 2024 to $120 million this year, with a $350 million target by 2030, a 10x growth in six years. Managing directors have tripled to 66, and headcount is up from 300 to 1,600.
Alvarez & Marsal eyes 10X India growth in six years: MD Luis de Lucio
New Delhi, Sept. 27 -- Consulting firm Alvarez & Marsal's (A&M's) India business is exploding: revenue is set to jump from $35 million in 2024 to $120 million this year, with a $350 million target by 2030, a 10x growth in six years. Managing directors have tripled to 66, and headcount is up from 300 to 1,600.
Doctors push for AI in Indian healthcare-from smart ICUs to smarter diagnoses
New Delhi, Sept. 23 -- Would you be comfortable letting an artificial intelligence (AI) tool listen in to your conversation with a doctor? Or would you trust a scan report written up by a bot? Doctors in India are driving the entry of AI in the medical mainstream and chains such as Narayana Health and Apollo Hospitals Enterprise Ltd are gearing up to enhance their services with this frontier technology. AI is being adopted across the board-from consultation and diagnosis to critical care.
Doctors push for AI in Indian healthcare—from smart ICUs to smarter diagnoses
Would you be comfortable letting an artificial intelligence (AI) tool listen in to your conversation with a doctor? Or would you trust a scan report written up by a bot? Doctors in India are driving the entry of AI in the medical mainstream and chains such as Narayana Health and Apollo Hospitals Enterprise Ltd are gearing up to enhance their services with this frontier technology. AI is being adopted across the board—from consultation and diagnosis to critical care.
PwC sets the template, rivals weigh their next move in India's advisory race
Posted On: 2026-09-21 Posted By: Devina Sengupta Health & Lifestyle Technology MINT Newspapers New Delhi, Sept. 21 -- The decision of a majority of around 500 equity partners of PwC India to give their 'ayes' for a joint venture of their consulting business with the PwC US Advisory's India-based capability centre in India has put advisory industry at home in a pickle.
PwC sets the template, rivals weigh their next move in India's advisory race
The decision of a majority of around 500 equity partners of PwC India to give their ‘ayes’ for a joint venture of their consulting business with the PwC US Advisory's India-based capability centre in India has put advisory industry at home in a pickle. For some, it is a playout of artificial intelligence’s impact on the industry which is pushing firms to offer both backend and consulting services from one single platform with assurance of high-skilled deliveries.
PwC US and PwC India form joint venture to scale India consulting for global clients
Auditing and consulting major PwC US and PwC India have signed a joint venture that will stitch together PwC India's Consulting business and PwC US Advisory's India-based capabilities into a single platform for its clients. Jointly owned and governed by both firms, the venture aims to position PwC India as a global player and serve as a single-destination hub for client consulting services. The financial terms of the agreement were not disclosed.
PwC US and PwC India form joint venture to scale India consulting for global clients
Posted On: 2026-09-13 Posted By: Devina Sengupta Others MINT Newspapers New Delhi, Sept. 13 -- Auditing and consulting major PwC US and PwC India have signed a joint venture that will stitch together PwC India's Consulting business and PwC US Advisory's India-based capabilities into a single platform for its clients. Jointly owned and governed by both firms, the venture aims to position PwC India as a global player and serve as a single-destination hub for client consulting services.
Smaller firms eye a larger slice in ongoing auditor churn
New Delhi, Sept. 12 -- In a David-versus-Goliath battle, India's smaller audit firms are sharpening their game. As more than 600 large companies prepare to change auditors over the next two years, these audit firms, with teams of just a few hundred, are investing in technology, building specialist teams and competing hard on fees to wrest bigger, more valuable clients away from the Big Six in the country's largest-ever audit rotation exercise underway.
Smaller firms eye a larger slice in ongoing auditor churn
In a David-versus-Goliath battle, India’s smaller audit firms are sharpening their game. As more than 600 large companies prepare to change auditors over the next two years, these audit firms, with teams of just a few hundred, are investing in technology, building specialist teams and competing hard on fees to wrest bigger, more valuable clients away from the Big Six in the country’s largest-ever audit rotation exercise underway.
Experts call for intense evaluation of boards as Coforge chairman exits under a cloud
New Delhi, Sept. 11 -- India's evaluation of its boards of directors has come a long way over the years, yet needs to change and be customized to account for specific company contexts, not just check boxes on regulatory forms, said Harsh Mariwala, founder and chairman consumer products major Marico Ltd. The spotlight on board evaluations comes on the back of the resignation of software services company Coforge Ltd's non-executive independent director and chairperson, O. P. Bhatt, on Wednesday.
Experts call for intense evaluation of boards as Coforge chairman exits under a cloud
India's evaluation of its boards of directors has come a long way over the years, yet needs to change and be customized to account for specific company contexts, not just check boxes on regulatory forms, said Harsh Mariwala, founder and chairman consumer products major Marico Ltd. The spotlight on board evaluations comes on the back of the resignation of software services company Coforge Ltd's non-executive independent director and chairperson, O. P. Bhatt, on Wednesday.
upGrad bets on corporate upskilling, advisory ahead of 2027 listing
New Delhi, Sept. 9 -- Temasek-backed upGrad plans to launch corporate upskilling and learning and development advisory services as businesses seek to keep employees up to date with rapidly evolving skill requirements. According to two industry executives aware of the development, the edtech company co-founded by Ronnie Screwvala, who is also its chairman, is pivoting towards business-to-business (B2B) services, broadening its portfolio ahead of a planned public listing.
upGrad bets on corporate upskilling, advisory ahead of 2027 listing
Temasek-backed upGrad plans to launch corporate upskilling and learning and development advisory services as businesses seek to keep employees up to date with rapidly evolving skill requirements. According to two industry executives aware of the development, the edtech company co-founded by Ronnie Screwvala, who is also its chairman, is pivoting towards business-to-business (B2B) services, broadening its portfolio ahead of a planned public listing.
Audit firms rewire to meet bot book-keepers, data deluge
New Delhi, Sept. 2 -- With over 600 companies changing auditors by financial year 2029, the country's largest audit firms are beefing up their teams with data scientists, artificial intelligence (AI)/cyber experts and fraud specialists. They are nudged by the demand from businesses that have become increasingly digital, automated and data-heavy, with their boards looking beyond the traditional audit bench. So, this wider mix of skills in the team could now decide who gets the mandate.
Audit firms rewire to meet bot book-keepers, data deluge
With over 600 companies changing auditors by financial year 2029, the country’s largest audit firms are beefing up their teams with data scientists, artificial intelligence (AI)/cyber experts and fraud specialists. They are nudged by the demand from businesses that have become increasingly digital, automated and data-heavy, with their boards looking beyond the traditional audit bench. So, this wider mix of skills in the team could now decide who gets the mandate.
Of advisor bots and fee cuts in the times of exec coaching wars
Posted On: 2026-08-29 Posted By: Devina Sengupta Health & Lifestyle Real Estate & Construction MINT Newspapers New Delhi, Aug. 29 -- India's executive coaching industry, to which top professionals turn for advice on navigating career challenges and the leadership path, is getting crowded. A wave of new entrants and platforms that make coaches easier to find is forcing them to compete harder for clients, and increasingly, on fees.
Of advisor bots and fee cuts in the times of exec coaching wars
India’s executive coaching industry, to which top professionals turn for advice on navigating career challenges and the leadership path, is getting crowded. A wave of new entrants and platforms that make coaches easier to find is forcing them to compete harder for clients, and increasingly, on fees. And now, artificial intelligence (AI) has brought in a real twist—people are growing more comfortable turning to bots for advice.
Small towns see gig hiring hustle for festive season, but pay gap persists
Bengaluru/Mumbai, Aug. 22 -- India Inc is increasingly looking to smaller towns to power festive-season sales, stepping up hiring of gig and blue-collar workers for its busiest shopping period. But the hands it needs there for consumer, retail, logistics, dark stores and e-commerce firms still earn way less than their metro counterparts. The gap has indeed narrowed from around four years ago, but remains significantly high, even as companies struggle to find enough workers in these markets.
Small towns see gig hiring hustle for festive season, but pay gap persists
BENGALURU/MUMBAI : India Inc is increasingly looking to smaller towns to power festive-season sales, stepping up hiring of gig and blue-collar workers for its busiest shopping period. But the hands it needs there for consumer, retail, logistics, dark stores and e-commerce firms still earn way less than their metro counterparts. The gap has indeed narrowed from around four years ago, but remains significantly high, even as companies struggle to find enough workers in these markets.
India's campus talent is crowding into a few coveted careers
New Delhi, Aug. 19 -- India's campus talent is queuing up for high-paying, high-visibility roles considered "glamorous". Students are opting for roles in investment banking, equity research and trading, and consulting, while employers are finding it harder to attract talent for positions in risk management, manufacturing, and derivatives.
India’s campus talent is crowding into a few coveted careers
India's campus talent is queuing up for high-paying, high-visibility roles considered “glamorous”. Students are opting for roles in investment banking, equity research and trading, and consulting, while employers are finding it harder to attract talent for positions in risk management, manufacturing, and derivatives.
Sebi said to have investigated Deloitte’s role in Zee Entertainment case, given clean chit
The Securities and Exchange Board of India (Sebi) examined Deloitte Haskins & Sells LLP (Deloitte) in 2024 over its role as the statutory auditor of Zee Entertainment Enterprises Ltd (ZEEL) regarding transactions made without board approval, said two people familiar with the matter.
Sebi said to have investigated Deloitte's role in Zee Entertainment case, given clean chit
New Delhi, Aug. 14 -- The Securities and Exchange Board of India (Sebi) examined Deloitte Haskins & Sells LLP (Deloitte) in 2024 over its role as the statutory auditor of Zee Entertainment Enterprises Ltd (ZEEL) regarding transactions made without board approval, said two people familiar with the matter.
Cussing at work: Where does anything-goes camaraderie end and Posh complaints begin?
It is a truth universally acknowledged that every employee, in anger or excitement, frustration or jest, must have used a cuss word in their office at some point. It is a truth far less recognized that sexually loaded words could land users in trouble under the Prevention of Sexual Harassment (Posh) Act of 2013 if a complaint is filed. Office cultures seem divided on the use of such terms.
Post-5G slowdown: AI and automation are reshaping India's telecom workforce, hiring trends
New Delhi, Aug. 12 -- A structural transition is underway in India's telecom sector, which is moving away from a manpower-intensive model to a leaner, automated and tech-driven framework as operators replace employees with AI, cloud-based infrastructure and intelligent networks. Although hiring trends among the three largest telecom operators vary, the shift in job profiles is evident as the common thread.
Post-5G slowdown: AI and automation are reshaping India's telecom workforce, hiring trends
A structural transition is underway in India’s telecom sector, which is moving away from a manpower-intensive model to a leaner, automated and tech-driven framework as operators replace employees with AI, cloud-based infrastructure and intelligent networks. Although hiring trends among the three largest telecom operators vary, the shift in job profiles is evident as the common thread.
Big Four tap startups to offer one-stop AI transition packages
New Delhi, Aug. 6 -- As Indian companies accelerate their ambitions to embrace artificial intelligence (AI), the ease of execution, speedy implementation and the credibility of trusted partners are becoming as important as the technology itself. The Big Four consulting firms-KPMG, PwC, EY and Deloitte-are teaming up with technology startups and niche service providers to pitch clients a bundled offering of agentic AI, technology overhauls and workplace transformation.
Big Four tap startups to offer one-stop AI transition packages
As Indian companies accelerate their ambitions to embrace artificial intelligence (AI), the ease of execution, speedy implementation and the credibility of trusted partners are becoming as important as the technology itself. The Big Four consulting firms—KPMG, PwC, EY and Deloitte—are teaming up with technology startups and niche service providers to pitch clients a bundled offering of agentic AI, technology overhauls and workplace transformation.
Fewer jobs in the market? Some of India's top companies are hiring less
New Delhi, Aug. 3 -- Many of India's top companies dialled down on fresh hires in the last two years, at a time of rising cost controls and the advance of automation. Among the 30 Sensex companies, total new hires at nine companies fell 27% in FY26 compared to FY24 while two companies hired more, a Mint analysis found. The remaining companies either do not disclose or only partially disclose fresh hiring numbers.
Fewer jobs in the market? Some of India's top companies are hiring less
Many of India's top companies dialled down on fresh hires in the last two years, at a time of rising cost controls and the advance of automation. Among the 30 Sensex companies, total new hires at nine companies fell 27% in FY26 compared to FY24 while two companies hired more, a Mint analysis found. The remaining companies either do not disclose or only partially disclose fresh hiring numbers.
Rebuilding trust the real challenge, says IIT Madras director in exam task force
Mumbai: The paper leak for India's undergraduate medical entrance examination, the 2026 National Eligibility-cum-Entrance Test (NEET), exposed a vulnerability few had anticipated: from the question paper setters, not the distribution process. V.
For parents who discuss politics with children, heading to protests is another life lesson
“They have given us tea and biscuits, they will not harm us. Your father will also be ok,” Sandhya Panaskar consoled her 11-year-old son last week. Being picked up by the police and seeing his father roughed up was new. So was sitting in the Worli Police Station in Mumbai on a school day. But attending a protest was not. And if his 43-year-old mother has her way, having been part of the protest against paper-leak allegations in India’s medical entrance examinations would not be his last.
Consulting partner pool soars, taps academia, policy and tech too
Mumbai, July 24 -- As client mandates grow more specialized, consulting and tax advisory firms in India have more than doubled their partner base over the past three to five years. And they are also looking beyond their own industry for the next cohort of partners, tapping the academia, startups, technology and public policy to bring in the expertise clients now demand.
Consulting partner pool soars, taps academia, policy and tech too
Mumbai: As client mandates grow more specialized, consulting and tax advisory firms in India have more than doubled their partner base over the past three to five years. And they are also looking beyond their own industry for the next cohort of partners, tapping the academia, startups, technology and public policy to bring in the expertise clients now demand.
Coaching hub Kota watches admission queues as NEET row rages on
New Delhi, July 23 -- As students protest relentlessly, braving rain, heat and even assault, in the national capital, the mood in India's coaching Mecca, Kota, is pensive.
Coaching hub Kota watches admission queues as NEET row rages on
As students protest relentlessly, braving rain, heat and even assault, in the national capital, the mood in India's coaching Mecca, Kota, is pensive. The 50-km radius city in Rajasthan is entering this year's admission season under a cloud of uncertainty as coaching institutes and hostel owners fear the controversy over the National Eligibility-cum-Entrance Test (NEET-UG) paper leak, the trigger for the protests, could make ‘repeat’ medical aspirants think twice about returning.
Consulting war: boutique firms target Big Four’s market share with niche strategies
Boutique advisory firms are chipping away at the dominance of the Big Four, using clever strategies to steal a slice of the lucrative tax, audit and consultancy pie. These firms are also recruiting partners and directors from the Big Four—a term coined to denote PwC, KPMG, EY and Deloitte—as competition intensifies in this business.
Employers should not be surprised by the flight of their star employees in pursuit of happiness
When the going gets tough, the tough get going. But when the going is good, should the tough start leaving? There are more than a handful of employees who get jittery when their taut relationship with the employer becomes much too comfortable and predictable. It is like the unsettled feeling one sometimes gets while staring at a placid pool of clear water. There is an irresistible urge to churn the water a bit.
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