India’s transformation into a global force across core sectors—from automobiles and digital infrastructure to IT and electronics—has been a product of targeted government support and strategic incentives. However, one key sector remains oddly stagnant: professional consulting and advisory.
Currently, India’s advisory ecosystem is overwhelmingly dominated by foreign-origin firms—offshoots of global conglomerates like Deloitte, PwC, EY, and KPMG. These firms are projected to collectively earn over ₹45,000 crore in FY25, working extensively on public sector mandates, infrastructure projects, transaction advisory, and digital governance.
While India provides the talent and scale, much of the intellectual property (IP), royalty, and profit-sharing flow outward. Domestic firms, despite having global experience and expertise, are unable to scale due to artificial barriers such as restrictive pre-qualification criteria and lack of institutional support.
Prime Minister Narendra Modi has acknowledged the imbalance and emphasized the need for India to not only lead in manufacturing and IT, but also in consulting and audit services. The vision is clear: turning the “Decade of India” into “India’s Century” will require a robust, globally respected Indian-origin professional services ecosystem.
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Strategic Imperatives: Security, IP, and Domestic Capacity
There are multiple pressing reasons why India must prioritize the development of indigenous consulting powerhouses:
- National Security & Data Sovereignty: Amid rising geopolitical tensions, allowing foreign consultancies access to strategic infrastructure and governance data is a serious risk. Sensitive frameworks designed abroad may not always align with India’s long-term interests.
- IP Drain and Stifled Innovation: Global firms operate with proprietary tools and methodologies, repatriating royalties and stunting domestic IP development. India continues to serve as a backend execution hub rather than a strategic thought leader.
- Artificial Barriers to Market Access: Many tenders favor firms with global turnover, international affiliations, or legacy credentials—automatically excluding capable Indian players. These systemic biases suppress competition and growth.
- Minimal Knowledge Transfer: Foreign consulting firms often use their Indian arms for implementation, while strategy and decision-making remain offshore. This limits leadership development and domestic capability-building.
Blueprint to Build India’s Own Big Four
To correct this structural imbalance and foster an environment where Indian firms can rise globally, policymakers must take a multi-pronged approach:
Reservation and Incentivization:
- Reserve all public consulting projects below ₹10 crore exclusively for Indian firms.
- Allocate 40% of total government consulting value annually to domestic players.
- Provide performance-linked incentives in priority sectors like AI, cloud, BFSI, and energy transition.
Reform Procurement Norms:
- Overhaul tender pre-qualification norms that require high turnover or international tie-ups.
- Make team expertise, sectoral experience, and delivery track record the core eligibility criteria.
- Encourage joint audits in PSUs and listed companies to ensure Indian firms are equitably engaged.
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Build Institutional Support:
- Launch a ₹10,000 crore “Professional Services Growth Fund” through SIDBI, LIC, and other institutions to fund acquisitions and expansion abroad.
- Establish a ‘National Quality Framework’ for consulting, led by regulators like SEBI, RBI, and IRDAI, to accredit Indian firms and standardize quality benchmarks.
Global Branding Initiative:
- Launch “IndiPro Global”—a nation-branding campaign for Indian professional services, modeled on “Make in India,” under the leadership of DPIIT and the Ministry of External Affairs.
- Encourage Indian embassies and trade missions to promote Indian advisory firms in ASEAN, the Gulf, and Africa.
The Road Ahead: From Talent Base to Global Giants
India has the intellectual capital, demographic strength, and strategic need to create a homegrown advisory industry on par with the Big Four. But to do so, it must dismantle structural roadblocks, incentivize IP creation, and create room for scale.
The creation of Indian-origin consulting giants will not just reduce foreign dependency but will also unleash a new era of economic sovereignty and global influence. If the country is to truly own the 21st century, the rise of an “Indian Big Four” is not just desirable—it is essential.