Why Doesn’t India Have Its Own Big 4? Building the Future of Indian Advisory Giants!

Introduction: You’ve Probably Walked Into an Indian CA Firm Before

Picture this: You walk into a Chartered Accountant’s office in your city. It’s a modest space, maybe run by one or two partners, or perhaps a family affair. The walls hold certificates, but there’s no fancy branding or flashy advertisement. The firm serves local clients, and growth feels more about steady survival than aiming for the national—or global—stage.

This is the reality for the majority of India’s accounting and advisory firms. They are skilled and qualified but small and fragmented. Meanwhile, the Big 4—Deloitte, EY, KPMG, and PwC—are giants that dominate globally, including in India. So why hasn’t India built its own version of these massive firms?

If this resonates, you’re in the right place. This blog breaks down the unique challenges that have kept India from having its own Big 4 and explores how the country is now strategizing to create its homegrown advisory powerhouses.

The Talent is Here, The Challenge is Structural

India is undeniably brimming with talented Chartered Accountants (CAs). According to recent reports, India requires approximately 130,000 new CAs annually to meet both domestic and offshore demand, but the current pipeline falls significantly short of this figure. Despite this talent pool, most Indian CA firms remain small—primarily sole proprietorships or family-run setups—limiting their capacity to scale [, ].

While talent availability is not the core issue, structural barriers have traditionally constrained growth:

• The Chartered Accountants Act of 1949 restrictions, which restrict advertising, professional partnerships, and cross-border collaborations, limit the ability of firms to build visible brands and expand.

• Smaller firms often lack access to the resources needed for large-scale operations, such as advanced technology, professional management, and strategic alliances.

• Many firms serve only local clients, gradually losing competitive edge in an increasingly globalized market that values innovation, brand trust, and scalability.

Also read: Accounting Career Path – Everything You Need to Know

Overcoming these structural challenges demands regulatory reforms and a shift in mindset—one that embraces modernization while upholding professional ethics.

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Why Scale and Branding Matter More Than Ever

In today’s fast-evolving global economy, size and visibility are critical to reaching large clients and multinational corporations (MNCs). The global Big 4 firms leverage brand recognition, extensive marketing campaigns, and diversified consulting services to attract clients across industries and borders.

India’s domestic firms often operate in a fragmented manner, with 75% of Indian CA firms being sole proprietorships , making it difficult to build a trusted national or international brand. They face challenges like:

• Limited marketing and advertising opportunities due to ethical restrictions.

• Narrow client bases, mostly local or regional.

• The inability to showcase consultancy capabilities publicly, which hinders their growth prospects and reputation among MNCs.

Global firms also actively promote their consulting arms, which serve as brand-building pillars. These consulting services indirectly funnel clients into their core audit operations—creating a steady revenue stream and reinforcing trust.

For Indian firms to compete effectively, natural branding, technological investments, and strategic expansion are essential, especially as Indian enterprises grow globally and seek reliable, world-class advisory services.

The Legacy Model: Family-Run, Survival-Focused Firms

The traditional Indian CA firm operates more like a family business than a large corporation. Many firms are built on a survival model, focusing on local client relationships rather than national or international dominance.

• Often, these firms are started by a single founder, with no long-term plan for succession or growth.

• Limited ambitions mean firms don’t invest in expanding their workforce or services beyond their immediate locality.

• Rivalry rather than collaboration dominates the small firm ecosystem, with many firms competing fiercely rather than forming alliances that could boost their scale.

This model emphasizes stability over growth, which—while ensuring steady income—retards India’s potential to produce homegrown giants capable of rivaling the international Big 4. Structural issues like regulatory restrictions and a cultural focus on personal reputation rather than brand-building further reinforce this legacy.

However, recent policy discussions aim to turn this model on its head by encouraging mergers, collaborations, and technology adoption.

Recent Moves Towards Change: A Government-Driven Push

Recognizing these barriers, the Indian government is now proactively supporting efforts to develop India’s own Big 4. In 2025, the PMO initiated high-level consultations, focusing on creating an environment conducive to scale, quality, and global competitiveness.

Key initiatives include:

• Revising ICAI guidelines to promote cross-border collaborations and shared branding among Indian firms.

• Encouraging government contracts to be awarded to Indian firms, reducing reliance on foreign firms that often dominate tenders.

• Supporting mergers and alliances that allow small firms to pool resources, enhance technical capabilities, and build strong national and international presence.

• Promoting technology adoption, particularly automation, AI, and data analytics, to modernize audit and consulting practices.

These measures aim to foster a new ecosystem where Indian firms can serve global clients with confidence and agility, and turn India’s domestic firms into formidable competitors on the world stage.

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What Needs to Change? Steps Toward Building India’s Own Big 4

For Indian firms to scale into global contenders, several shifts are necessary:

• Consolidation and Collaboration: Smaller firms need to unite under common banners to pool talent and resources.

• Adopting Corporate Structures: Moving beyond traditional partnerships towards corporate governance models will attract investment, talent, and foster growth.

• Technology Adoption: Investment in automation and audit tools is critical to compete with the efficiency of global counterparts.

• Branding and Ethical Advertising: Allowing firms to market their expertise transparently will build trust and client awareness.

• Focus on Research & Development: Building teams to lead policy dialogue and thought leadership will strengthen the domestic advisory scene.

People also read: Do Accountants Still Have a Future in 2025?

Leveraging Education and Training: The Role of Professional Courses

Building India’s Big 4-sized firms depends heavily on cultivating talent equipped with modern skills. Aspiring accountants and existing professionals can leverage specialized training:

• Entri’s PwC Edge – Strategic Accounting and Finance Programme: This course is designed to boost strategic, analytical, and leadership skills in finance—critical for steering large advisory firms. It aligns with international standards and prepares professionals for senior roles.

• SAP FICO Training Course: Mastering SAP FICO elevates professionals’ ability to implement ERP systems, streamline operations, and deliver tech-driven audit and financial services. It’s increasingly a differentiator in building scalable, efficient firms.

A well-trained talent pool underpins the transition from small local firms to nationally and globally competitive advisory giants. Enrolling in these courses enables professionals to develop expertise aligned with modern practices and push the boundaries of what Indian firms can achieve. Additionally, with its dedicated placement cell, your path to building India’s own Big 4 is closer than ever.

Conclusion: Your Path to Building India’s Big 4 Starts Here

India’s journey toward creating its own Big 4 advisory giants is in motion. It requires a collective shift in mindset, infrastructure, and skills. Professionals equipped with strategic accounting knowledge and modern ERP expertise will form the backbone of these future champions.

By enrolling in Entri’s PwC Edge or SAP FICO courses, you give yourself a competitive edge and contribute to shaping India’s financial advisory future. If building a legacy or rising as a leader in the evolving finance sector excites you, start your journey today—because the time to scale up is now.