Global consultancy firm PwC India on Wednesday said it will invest up to Rs 1,600 crore and create additional 10,000 jobs in the next five years. Announcing its new business strategy The New Equation', PwC India said the firm will also increase its campus hiring by over five times in the same time period.

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The New Equation is based on analysis of trends and thousands of conversations with clients and stakeholders, it said in a release. “India has strong economic fundamentals, a huge advantage in the form of its demographic dividend and an ecosystem to boost innovation. Our new strategy will enable us and our clients to further the country's economic development, harness the potential of the domestic market and create more opportunities for society at large," said Sanjeev Krishan, Chairman PwC in India said.

As part of the India commitments, the release said in the next five years PwC will seek to invest up to Rs 1,600 crore and create over 10,000 additional jobs - a large proportion of these would come in the areas of digital, cloud, cyber, analytics and emerging technologies. Currently, the firm has around 15,000 employees in India.

PwC further said that in the next five years, it will seek to enhance focus on existing tech-led alliances and explore avenues in areas of emerging technologies and work towards a minimum of 40 per cent gender diversity. The firm will continue to spend at least 1 percent of revenues in upskilling people and partners, and set up a PwC Research Institute to assist clients in identification of emerging trends across sectors, it said in the release.

PwC is a network of firms in 155 countries with more than 2,84,000 people who are committed to delivering quality in assurance, advisory and tax services.