India to get its own 'Big Four' accounting firms
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India aims to develop its own large domestic accounting firms, challenging the dominance of Deloitte, PwC, EY, and KPMG.
Bern, Jun 9 (PTI) Commerce and Industry Minister Piyush Goyal on Monday said the government is trying to create large domestic accountancy firms in India, and the country will soon have its own "big four".
Currently, the big four are Deloitte, PwC or PricewaterhouseCoopers, Ernst & Young (EY), and KPMG. These four firms dominate the accountancy and consultancy space in India.
"Now, we are trying to create our own big four. Earlier, the rules were (not friendly)...You know, we couldn't have mergers. Our mindset was also different. Now, gradually, people are understanding...We will have our big four in India, very soon, wait and watch," he told reporters here.
Currently, the big four are Deloitte, PwC or PricewaterhouseCoopers, Ernst & Young (EY), and KPMG. These four firms dominate the accountancy and consultancy space in India.
"Now, we are trying to create our own big four. Earlier, the rules were (not friendly)...You know, we couldn't have mergers. Our mindset was also different. Now, gradually, people are understanding...We will have our big four in India, very soon, wait and watch," he told reporters here.
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