PwC India and PwC US have officially announced the formation of a new joint venture, poised to combine PwC India’s consulting business with PwC US’s India-based acceleration centres. This strategic collaboration is set to launch as a unified platform with an initial workforce of 40,000 employees, significantly bolstering its global advisory capabilities.
Under the proposed structure, PwC US will hold a 50.1% stake, with PwC India retaining 49.9%. Sanjeev Krishan, chairperson of PwC India, will assume the role of CEO for the joint venture, maintaining operating control, including over the US-run acceleration centres, making it a jointly controlled entity. The new venture aims to establish a distinct consulting-focused entity within PwC India.
Integrating Expertise for Comprehensive Client Solutions
The new entity will integrate PwC India’s extensive consulting operations, encompassing management, technology, and risk consulting, with the India-based capabilities of PwC US Advisory. This integration is designed to offer clients a seamless suite of services, ranging from strategy and transformation to advanced technology, engineering, and artificial intelligence solutions, while also expanding managed services at scale.
Crucially, certain core businesses of PwC India, including audit, tax, deals, and specific government advisory work, will remain outside this joint venture, ensuring focused expertise in each area.
Ambitious Growth Targets and Market Reach
This combined platform is expected to unite advisory talent and capabilities across both India and the US, creating a single, integrated offering for clients not only in India and the US but also in other international markets. PwC India, which currently employs approximately 33,000 people, anticipates a substantial expansion in scale with the addition of the acceleration-centre workforce.
The firm has set an ambitious target of achieving fivefold growth within three years, a significant acceleration compared to the threefold growth over five years outlined in PwC India’s Vision 2030. The deal is projected to increase PwC India’s business revenue from an estimated $1.3 billion to approximately $2 billion on day one, pending necessary approvals.
Paul Griggs, PwC US senior partner and CEO, emphasized the strategic imperative behind the merger, stating, “Firms that succeed will be those that stop viewing markets, capabilities, and delivery as separate. The combination will bring together PwC’s advisory talent in India with PwC US as one team, with the relationships, expertise, and scale to deliver for clients and the wider PwC network.”
The transaction is currently subject to various regulatory approvals, including clearance from the Competition Commission of India, and is anticipated to close in the first half of 2027. Until then, both PwC US and PwC India will continue to serve their clients through their existing operational structures.