FICCI ends 8-year relation with PwC

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Federation of Indian Chambers of Commerce and Industry (FICCI) has ended an 8-year old partnership with PricewaterhouseCoopers (PwC) for its annual media and entertainment sector survey.

PricewaterhouseCoopers (PwC), the consultancy whose auditing unit Price Waterhouse is in the dock for clearing the books of scam-tainted Satyam Computers, said it was unaware of any such development.

PwC is the knowledge partners for FRAMES — the annual media and entertainment summit that brings out the report. According to the sources FICCI now partnered with KPMG for the summit.

In its FRAMES report released in 2008, PwC had estimated that the Indian entertainment and media industry would touch Rs 1,17,362 crore by 2012 with a compounded annual growth rate of 18% between 2008-12 .

The report had pegged the size of the industry at an estimated Rs 51,300 crore in 2007, up from Rs 43,800 crore the previous year.