PwC US and India launch joint venture to expand global consulting from India

PwC US and PwC India have announced plans to form a joint venture combining PwC India’s consulting business and PwC US Advisory’s India-based capabilities into a unified platform for clients. The new entity, which will be jointly owned and governed by both firms, is aimed at streamlining services and positioning PwC India as a more prominent player in the global consultancy market, according to statements released Sunday. The financial terms of the agreement have not been disclosed. The transaction is expected to close in the first half of 2027, pending regulatory approvals and other closing conditions.

The joint venture will strictly involve the consulting and advisory divisions of the two firms, with audit businesses remaining separate in compliance with local regulations that prohibit such integration. Until the venture receives the necessary approvals and becomes operational, both PwC US and PwC India will continue to serve clients through their existing business structures.

PwC’s move comes as the consulting industry is undergoing rapid change, with advances in artificial intelligence (AI) disrupting traditional models for service delivery, billing, and talent management. The new platform is designed to break down legacy silos that have hindered cross-border collaboration within the network, facilitating greater efficiency and scale.

Paul Griggs, senior partner and CEO at PwC US, described the combination as a strategic step to bring the entirety of PwC’s advisory talent in India together with PwC US, creating “one team” with shared expertise and relationships. “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,” Griggs said. He added that the joint venture advances PwC’s broader ambition to establish a more globally integrated consulting model, expanding access to combined talent and specialized knowledge for PwC firms worldwide.

Sanjeev Krishan, chairperson of PwC India and set to become the incoming CEO of the joint venture, called the agreement 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.” Krishan highlighted the pride associated with PwC India being able to play a greater role in the success of the global network.

PwC operates as a network of member firms under the PricewaterhouseCoopers International Ltd (PwCIL) brand. These firms are separate legal entities and are not collectively a global partnership, single firm, or multinational corporation. PwC India, like other network members, operates independently while adopting select global practices. The firm has more than 1,000 partners providing business transformation, data analytics, technology consulting, and regulatory services.

Upon completion, the joint venture is expected to position PwC India as a central hub for consulting services and strengthen its competitive edge against key rivals, including the other Big Four firms - EY, Deloitte, and KPMG - as well as pure consulting players such as Kearney, Bain & Co., and McKinsey & Co.