PwC US and PwC India form joint venture to scale India consulting for global clients

Auditing and consulting major PwC US and PwC India have signed a joint venture that will stitch together PwC India's Consulting business and PwC US Advisory's India-based capabilities into a single platform for its clients. Jointly owned and governed by both firms, the venture aims to position PwC India as a global player and serve as a single-destination hub for client consulting services. The financial terms of the agreement were not disclosed.

While the JV is yet to receive regulatory approval, the streamlining of services is expected to give the firm an edge against its rivals EY, Deloitte, and KPMG. These companies, collectively referred to as the ‘Big Four’, are also consultants, and in some cases may 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 closing conditions and regulatory approvals. Until then, PwC US and PwC India will continue to serve clients through their existing structures and ways of working. The structural changes apply strictly to the consulting and advisory divisions, as local regulations prohibit such integration within the firm's audit practice.

Mint had reported these changes in PwC’s advisory business in April. By realigning its consulting operations, the firm aims to break down legacy silos that historically slowed cross-border collaboration.

Navigating AI disruption

The operational shift comes as rapid advances in artificial intelligence (AI) disrupt the consulting sector, forcing firms to review their services, billing, and hiring.

“The firms that win will be the ones that stop thinking about markets, capabilities, and delivery as separate pieces. That's what makes this combination so powerful," Paul Griggs, senior partner and CEO at PwC US, said in a statement on Sunday. "We're bringing the full breadth of our advisory talent in India together with PwC US—one team with the relationships, expertise, and scale to deliver for our clients and the PwC network.”

“The joint venture also advances PwC's broader ambition to build a more globally integrated consulting model, giving PwC firms around the world greater access to the combined talent and expertise of the new platform,” he added.

Sanjeev Krishan, chairperson of PwC India and the incoming CEO of the new JV, said, “For PwC India, this is a testimony to the tremendous journey of growth that we have been on over the last five years and our position of strength in the network. It is a matter of great pride for us that PwC India now has an opportunity 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 comprises firms that are separate legal entities.

PwC India, like other member firms, works independently and may adopt some global practices. The audit and consulting firm relies on more than 1,000 partners to deliver business transformation, data analytics, technology consulting, and regulatory services.