India's economic path shows remarkable strength. The country stands ready to become the world's third-largest economy. Romal Shetty, CEO of Deloitte South Asia, shared this optimistic view. He spoke at TiECon Mangaluru 2026 on Friday.
Key Strengths for Growth
Shetty pointed to several factors driving India's economic momentum. The nation boasts a young median age of just 29 years. Rising per-capita income adds to this positive picture. A strong innovation ecosystem further supports growth.
"India's ability to deliver services in 10 minutes is an engineering marvel," Shetty said. He noted that small Indian start-ups often solve complex problems at scale. Global giants sometimes struggle with these same challenges.
Practical Innovation Examples
Shetty provided a concrete example of India's innovative capability. One start-up successfully resolved a payments technology challenge. A global hyperscaler could not deliver this solution in time. This case underscores India's talent for fast, practical innovation.
Building Products, Not Just Coding
The Deloitte CEO emphasized a crucial shift for India's future. The country must focus on building products rather than just coding. Shetty called for deeper collaboration between academia, industry and start-ups. This partnership should prioritize innovation for 'Bharat' - reaching all parts of Indian society.
Global Capability Centres Expansion
Shetty discussed Global Capability Centres (GCCs) in India. The country currently hosts about 22% of the world's top GCC companies. Significant expansion opportunities remain. Tier-2 and tier-3 cities offer particular potential for growth in this sector.
Deloitte's India Plans
Regarding his own company's strategy, Shetty revealed Deloitte employs approximately 140,000 people in India. The firm aims to add 50,000 more positions over the next three years. This expansion reflects confidence in India's economic prospects.
Shetty also addressed Deloitte's potential presence in Mangaluru. "It's only a question of time," he stated. He cited the region's strong engineering and medical talent as key attractions for the professional services firm.
The fireside chat session featured the title 'India@2047: The trillion dollar opportunity.' Rohith Bhat, president of TiE Mangaluru, moderated the discussion. The event highlighted India's promising economic trajectory through collaborative innovation and strategic growth.
