Leading audit and consulting firms PwC US and PwC India have signed an agreement to create a joint venture that will combine the consulting business of PwC India and the Indian capabilities of PwC US Advisory into a single platform for their clients. The entity, jointly owned and operated by both companies, aims to position PwC India as a global player and serve as a one-stop shop for advisory services to clients. Financial terms of the agreement were not disclosed.
Although the JV has not yet received regulatory approval, the streamlined services are expected to give the firm an edge over rivals EY, Deloitte and KPMG. These companies, under the general name The Big Four are also consultants and in some cases can compete with consulting heavyweights such as Kearney, Bain & Co. and McKinsey & Co.
The transaction is expected to close in the first half of calendar year 2027, subject to satisfaction of closing conditions and receipt of regulatory approvals. Until then, PwC US and PwC India will continue to serve clients using existing structures and practices. The structural changes apply exclusively to the consulting and advisory divisions, as local regulations prohibit such integration into the firm’s audit practice.
Mint had announced these changes to PwC’s advisory business in April. By reshaping its consulting operations, the firm aims to break down legacy silos that have historically slowed cross-border collaboration.
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“The firms that will win are the ones that stop thinking about markets, capabilities and delivery as separate parts. That’s what makes this combination so powerful,” Paul Griggs, senior partner and CEO of PwC US, said in a statement Sunday. “We are bringing together the full range of our advisory talent in India with PwC US – a single team with the relationships, experience and scale to benefit our clients and the PwC network.”
“The joint venture also contributes to PwC’s wider ambitions to create a more globally integrated consulting model, giving PwC companies around the world greater access to the combined talent and expertise of the new platform,” he added.
Sanjeev Krishan, Chairman of PwC India and new CEO of the new JV, said: “For PwC India, this is a testament to the tremendous growth journey we have achieved over the last five years and our strong position within the network. It is a source of great pride for us that PwC India is now able to play a greater role in the success of our global network.”
PwC is the brand under which the member firms of PricewaterhouseCoopers International Ltd (PwCIL) operate and provide professional services. The PwC network is not a global partnership, a single firm or a multinational corporation; it includes firms that are separate legal entities.
PwC India, like other member firms, operates independently and may adopt some global practices. The audit and consulting firm relies on more than 1,000 partners who provide business transformation, data analytics, technology consulting and regulatory services.