RSM India

Manufacturing

Our service offerings for the Manufacturing industry

India is fast emerging as a global manufacturing hub, with all the requisite skills in product, process and capital engineering on account of its long manufacturing history and continuous upgradation of its higher education system. The Make in India initiative of the Indian government has further aided the growth of this industry with the Government receiving investment proposals of over US$ 16.56 bn in the recent past through this initiative.

India's cheap, skilled manpower is attracting a number of companies, spanning diverse industries, making India a global manufacturing powerhouse. India with its vast design skills has attracted a lot of outsourcing technological orders.

India's manufacturing sector is expected to touch US$ 1 trillion by 2025 and reach about 30 per cent of the country’s GDP.

Opportunities and Challenges:

The manufacturing sector is large and diverse, but most sector players face similar risks – increased costs for oil, natural gas, steel and copper are squeezing margins, unless offset by pricing and surcharge increases. Since clients are reluctant to invest in new equipments, the aftermarket service gains greater significance. To strengthen core product lines or widen geographical reach, companies are seeking acquisition targets, while others are looking to divest underperforming units. State and central taxes, often managed across multiple locations, are increasingly complex and under continuous review. Calls for corporate governance and accountability have driven new regulations around internal controls and management certifications. Further, manufacturing companies always strive to figure out how to get the most out of their Information Technology and Human Resource Capital Investments.

While the challenges are many, the industry also offers significant growth opportunities considering the future outlook.

How we can help:

We at RSM provide a wide range of services to the various large Indian groups, multi-national companies and SME players across various verticals including petrochemicals, textile, engineering, metals, industrial equipments and chemicals. The key services offered by RSM to the manufacturing sector include:

  • Internal and management audits (including compliance audits)
  • Enterprise risk management
  • Internal control framework – designing and testing of controls
  • International and Indian tax
  • Techno-commercial concurrent audits
  • Corporate advisory and structuring covering Tax / Foreign Exchange regulations, Double Taxation Avoidance Agreements (DTAA) regulations, etc.
  • Advisory & assistance in outbound and inbound Foreign Direct Investments from and into India, formation / re-structuring of Joint Ventures, Mergers & Acquisitions, etc.
  • Operations consulting covering ISO, Six Sigma, TQM, lean management systems, JIT approach, Inventory management tools, etc.
  • Preparation of Standard Operations Manuals (SOPs) defining pre-agreed systems and procedures, etc. and assisting in their implementation.
  • Financial process outsourcing
  • Company law compliance
  • Assistance in preparing commercial documentation
  • Executive search and HR solutions

Advantage RSM:

  • RSM in India is consistently ranked amongst India’s top six accounting and consulting groups and globally RSM is the seventh largest audit, tax and consulting network
  • Extensive experience in advisory, taxation and accounting matters across various sectors. Our clients include:
    • One of the largest private sector manufacturer in India
    • One of the largest non-ferrous metals company in India
    • One of the largest luggage brands across Asia
    • One of the largest branded toy manufacturers in India
    • One of the largest terry towel producers in Asia
    • One of the largest SAW Pipes companies in Asia
    • One of the largest central air-conditioning and commercial refrigeration companies in India
  • Use of technical experts – civil, mechanical and electrical engineers
  • Use of Risk Based Audit (RBA) as well as Transaction Based Audit (TBA) approaches
  • Multi-disciplinary team of professionals comprising of Chartered Accountants, Management Graduates, Engineers, Company Secretaries, CISA / DISA, Cost Accountants and Law graduates

 

Study on Shareholder Returns of Great Workplaces 2017

6 July 2017
‘Study on Shareholder Returns of Great Workplaces 2017’ by RSM India Foreword: The objective of the above study is to substantiate whether the great workplaces identified by Great Place to Work® Institute in India consistently outperform major stock indices in total shareholder return. This is being sought to be established by:

Newsflash - Export Procedure and Sealing of Containerized Cargo

6 July 2017
Vide its Circular no. 26 / 2017 - Customs, dated 1 July 2017, Government of India has prescribed the procedure for export and for sealing of containerized cargo,

The Dawn of GST Era – Updated 3 June 2017

29 June 2017
On 3 June 2017, the GST Council fixed the GST rates of certain items, including the Rates for Rough Diamonds, Gold, Gems and Jewellery. Also the GST Rules in respect of the following were announced:

Petya/Petwrap Ransomware Attack - Newsflash

28 June 2017
Newsflash: ‘Petya/Petwrap’ Ransomware Attack

Newsflash: Companies Act, 2013 - Rotation of auditors for Private Companies

24 June 2017
Kindly find herewith our newsflash on the amendment to the Rule 5 of the Companies (Audit and Auditors) Rules, 2014 which specifies the companies to which provisions of section 139(2) of the Companies Act, 2013 (Rotation of Auditors) apply.

Newsflash - Ongoing Cyber Attack 'WannaCry Ransomware' & Steps to Prevent

15 May 2017
In the newsflash we would like to mention certain steps to prevent such attacks in your organization. The malicious software behind the major cyber attack is known as ‘WannaCry’. Following are the synopsis of what you need to know about 'WannaCry', the malicious software behind the ongoing worldwide hacking attack  

Newsflash - Certain Significant Amendments Made to the Finance Bill, 2017

28 March 2017
The object of the Finance Bill (‘the Bill’), as you know, is to give effect to the financial proposals of the Central Government for the financial year 2017-18. The Bill was introduced in the Lok Sabha on 1 February 2017 and it was passed by the Lok Sabha recently on 22 March 2017 .

Newsflash: GST - Latest Developments

28 March 2017
Union cabinet has approved four crucial GST bills. 1.      The Central Goods and Services Tax Bill 2017 (The CGST Bill) 2.      The Integrated Goods and Services Tax Bill 2017 (The IGST Bill) 3.      The Union Territory Goods and Services Tax Bill 2017 (The UTGST Bill)

Newsflash - Foreign companies having turnover of Rs. 50 crore or less kept outside the scope of POEM

24 February 2017
Dear Sir / Madam,   We are pleased to share with you our newsflash on the captioned subject.  

Pages