In a bold policy shift aimed at reinforcing India’s strategic self-reliance, the Prime Minister’s Office (PMO) convened a high-level meeting on June 5 to evaluate the creation of Indian consulting giants capable of competing with global Big Four firms—Deloitte, PwC, EY, and KPMG.
The meeting, chaired by the Principal Secretary to the Prime Minister, brought together senior officials from the departments of corporate affairs, economic affairs, revenue, and financial services. A member of the Economic Advisory Council to the Prime Minister (EAC-PM) presented a strategic roadmap outlining the steps needed to foster a homegrown consulting ecosystem capable of supporting India’s growing needs across infrastructure planning, policy advisory, financial consulting, digital transformation, and governance.
Key Highlights of the Initiative
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Strategic Sovereignty Focus: The initiative is aligned with the broader Atmanirbhar Bharat vision, emphasizing the need for self-reliance in knowledge-intensive sectors that influence national governance and policy.
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Dominance of Global Players: The PMO acknowledged the deep integration of foreign consulting firms into India’s policy and financial architecture, raising concerns over dependency and limited local capacity.
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Fostering Domestic Firms: The government is considering structural incentives, regulatory tweaks, and preferential procurement norms to support Indian consulting firms in scaling up their capabilities and reach.
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Enabling Environment: Discussions included reforming government empanelment policies, revising tender eligibility criteria, and encouraging private capital to flow into Indian firms.
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Professionalization and Global Competence: A focus on standardizing consulting practices, quality assurance, and international collaboration is expected to be a part of the new roadmap.
Expert Insight: Mohan Shukla’s Commentary
Mohan Shukla, Chairman of the Board of Governors at News365 Times, welcomed the development, calling it a “timely and strategic move” in India’s journey toward economic and policy self-reliance.
“At a time when the dominance of global Big Four firms extends deep into India’s policymaking, infrastructure, and financial advisory landscape, building credible domestic alternatives is imperative for ensuring national sovereignty,” said Shukla.
He added that while Indian advisory firms possess considerable potential, they remain stifled by disproportionate entry barriers, including:
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Rigid tender eligibility norms
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Absence of scale-building incentives
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Investor bias favoring global consultancy brands
According to Shukla, for this vision to translate into reality, the government must:
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Recalibrate empanelment norms to offer mid-sized Indian firms a level playing field
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Offer procurement preference in public contracts
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Introduce fiscal incentives and support overseas expansion
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Promote consolidation and professionalization of domestic firms
“This push for indigenous consulting excellence cannot succeed through intent alone—it must be backed by bold policy action, ecosystem nurturing, and regulatory recalibration,” he emphasized.
The PMO’s initiative signals a significant paradigm shift in how India views its consulting landscape—not just as a service sector, but as a strategic pillar for sovereign decision-making. If implemented effectively, the move could not only reduce India’s reliance on foreign expertise but also unleash a new generation of globally competitive Indian advisory firms.
