The Prime Minister’s Office (PMO) convened a high-level meeting on June 5 to examine the feasibility of establishing Indian consulting powerhouses that can compete with the globally dominant Big Four—Deloitte, PwC, EY, and KPMG. The meeting was led by the Principal Secretary to the Prime Minister and attended by top officials from the departments of corporate affairs, revenue, economic affairs, and financial services.
A presentation assessing the strategic roadmap for such an initiative was delivered by a member of the Economic Advisory Council to the Prime Minister. The discussion marks the government’s intent to nurture and scale domestic advisory firms capable of taking on complex mandates across infrastructure planning, financial advisory, tax consultancy, digital governance, and policy support.
This renewed policy direction reflects India’s larger ambition for strategic self-reliance and sovereignty in sectors that directly influence policymaking and national governance. The government is exploring structural incentives, regulatory reforms, and preferential procurement policies to foster the growth of homegrown firms.
FCRF x CERT-In Roll Out National Cyber Crisis Management Course to Prepare India’s Digital Defenders
Dominance of Global Firms and the Need for a Domestic Alternative
The timing of this policy shift comes as foreign consulting giants expand their footprint within India, particularly through government and public sector assignments. The Indian arms of the Big Four generated combined revenues of ₹38,800 crore in FY24, and they are projected to surpass ₹45,000 crore in FY25. These numbers represent one of the fastest-growing markets for the global firms, often outpacing growth rates seen in their home countries.
A significant portion of this revenue stems from public sector contracts, including disinvestment support, PSU stake sales, financial advisory, and large-scale project management. The global consulting majors are now deeply integrated into government operations, shaping not only implementation strategies but also core policy frameworks.
Such deep entrenchment has raised concerns about overdependence on foreign entities for critical state functions. This, in turn, has fueled discussions on whether India should cultivate its own globally credible consulting ecosystem that can retain talent, ensure data sovereignty, and reflect local sensibilities.
Boosting Indian Firms: Incentives, Talent Retention, and Long-Term Strategy
Currently, India is home to several competent mid-sized consulting players such as Grant Thornton Bharat and BDO India. While these firms have carved a niche, they lack the scale and global visibility to compete with the Big Four.
To level the playing field, the government is expected to consider a mix of interventions—from giving preference to Indian firms in public procurement, to easing regulatory compliance and offering financial or tax-based incentives aimed at boosting capacity and innovation. Regulatory changes may also be introduced to provide a clear pathway for Indian firms to expand their global presence and capabilities.
Another driver of this initiative is the retention of Indian talent. Many senior professionals of Indian origin currently hold leadership roles within foreign firms, both in India and abroad. A robust domestic industry could offer them high-impact opportunities at home, reducing intellectual and human capital flight.
Ultimately, the government’s exploration of building domestic consulting champions is not just about economic competition—it’s about asserting India’s presence in the global knowledge economy and reinforcing national interests in sectors where advisory influence shapes outcomes.
Prof. Triveni Singh, Former IPS Officer and Cybersecurity Expert, Calls for Breakaway of Indian Firms from Big 4 Affiliations to Curb Overcharging and Promote Indigenous Expertise
“The reality is that the so-called expertise of the Big 4 often relies heavily on the same freelance tech professionals, domain experts, and project leads who are part of India’s Aatmanirbhar consulting ecosystem. These individuals are hired on a project basis at modest compensation, while the Big 4 firms charge clients—particularly the government and large corporates—multiple times that amount under the guise of global branding.
To ensure transparency and genuine value, consulting projects must be awarded only to firms that have all project team members on their official payroll. This single measure will immediately reveal where true capabilities lie—and expose the dependence of Big 4 firms on external Indian talent. This is the real face of the Big 4 in India.” said Prof. Triveni Singh, Former IPS Officer & Cybersecurity Expert.