PMO to Hold High-Level Meeting on September 23 to Discuss Creation of India’s Own BIG FOUR Accounting Firms

New Delhi: The Prime Minister's Office (PMO) has announced a high-level meeting on September 23, 2025 to deliberate on the creation of India’s own BIG FOUR accounting and consulting firms. The meeting aims to reduce India’s dependence on global giants like Deloitte, PwC, EY, and KPMG, while giving domestic firms the opportunity to scale and compete internationally. This initiative is being viewed as a key step toward a self-reliant India in the financial services sector.

Purpose of the Meeting

The meeting will be chaired by the Principal Secretary to the Prime Minister, Shaktikanta Das, and attended by senior officials from the Ministry of Finance and the Ministry of Corporate Affairs. The government is expected to discuss measures to relax existing rules, simplify regulatory frameworks, and provide supportive policies that help domestic firms grow in size and capability.

The focus will be on nurturing homegrown firms to operate at a global standard, thereby reducing dependence on foreign consulting giants for audits, advisory services, and tax consulting. Experts believe that this could create thousands of high-quality jobs and also increase India’s presence in global financial services markets.

ICAI and Digital Transformation

The Institute of Chartered Accountants of India (ICAI) has welcomed the initiative and is actively exploring ways to assist smaller and mid-sized CA firms in merging or forming strategic alliances. A digital platform is being planned to facilitate partnerships, share resources, and provide access to global standards of auditing and consulting.

Such efforts will enable domestic firms to expand their client base, handle large-scale projects, and gradually become India’s own BIG FOUR, capable of competing with the top multinational firms.

Significance for India’s Economy

Experts highlight that strengthening domestic firms will contribute significantly to India’s financial independence. By fostering self-reliant accounting and consulting services, the government aims to reduce outflow of revenue to foreign firms while building world-class expertise domestically.

Moreover, creating India’s own BIG FOUR will encourage innovation in the sector, improve audit quality, and enhance transparency in corporate governance. It aligns with the broader ‘Atmanirbhar Bharat’ mission, ensuring that Indian firms are globally competitive while retaining critical knowledge and revenue within the country.

The upcoming high-level PMO meeting is a landmark move in India’s journey toward financial self-reliance. By supporting domestic accounting and consulting firms, the government hopes to nurture a new generation of global-scale Indian companies, reduce dependence on international giants, and strengthen India’s position in the global economy.