India wants to create its own Big Four
India's Ministry of Corporate Affairs just dropped a discussion paper about creating homegrown "Big Four" accounting firms to rival global heavyweights like EY, KPMG, PwC, and Deloitte.
The push—sparked by PM Modi—is all about helping Indian firms compete internationally, but current rules (like bans on advertising for accountants and company secretaries) are holding them back.
The plan in detail
The plan suggests Indian firms team up across professions (think accountants, lawyers, and company secretaries working together) to offer the kind of integrated services big international players do.
Right now, only 400 out of 95,000 Indian accounting firms have more than 10 partners—a sign things need to scale up.
The government wants your feedback on these ideas; your input could help shape the future of the global consulting and auditing industry, currently valued at nearly $240 billion.