Archive · 10 Jun 2025
India Aims to Boost Homegrown Audit Giants, Challenging Big Four
India wants to build its own big accounting firms to compete with the large, global ones like Deloitte and PwC.
The government is trying to make it easier for Indian firms to grow by changing some rules.
This is because a strong economy needs a diverse range of businesses.
Indian firms already do a lot of the global audit work.
The challenge is for Indian firms to merge and build their own brand.
The goal isn't to kick out the big guys, but to give Indian companies a fair shot.
It's similar to how India has its own successful banks, and the government is working to make the same happen in the audit sector.
India is working to create large accounting firms to compete with global giants.
Industry leaders highlight tech and talent as key strengths.
A government committee is devising a framework to support local firms.
Experts agree the goal is to foster a diverse ecosystem, not undermine existing firms.
Consolidation is seen as essential for Indian firms to grow.
- Who
- Government, industry leaders, and existing accounting firms (Big Four and Indian firms).
- What
- Efforts to foster the growth of large Indian accounting firms to rival global giants.
- When
- Currently; with ongoing discussions and a committee formed to develop a framework.
- Where
- India
- Why
- To create a more competitive and diverse ecosystem in the auditing sector and to enable India to champion its capital on the global stage.
Advocates for Homegrown Audit Giants
Big Four Supporters
The role of Big Four
Advocates for Homegrown Audit Giants
This is not about undermining the Big Four, but supporting homegrown firms and fostering a more competitive and diverse ecosystem.
Big Four Supporters
Focus on leveraging the existing strengths of the Big Four firms, which employ over three lakh people in India. The success of current global giants is a reference point.
Consolidation challenges
Advocates for Homegrown Audit Giants
Lack of consolidation is a significant hurdle for Indian firms, creating large institutions requires smaller firms to merge.
Big Four Supporters
Consolidation might pose some challenges for the existing firms.
- Key Players
- Dhruva Advisors, Nangia & Co, AZB & Partners, Grant Thornton Bharat, Deloitte, PwC, EY, KPMG
- Government Action
- Push for larger Indian accounting firms, committee formed to revise regulations
- Big Four's Role
- Dominate the market but with audit making up a small portion of their business
- Work Done in India
- Around 90% of the global audit work is done in India.
- BFSI Sector Reform
- Opening up the sector to non-Big Four firms, has been successful