India's Ambitious Bid for Homegrown Accountancy Giants

The Indian government, led by Commerce and Industry Minister Piyush Goyal, is working towards establishing large domestic accountancy firms. The goal is to create an Indian version of the 'big four,' rivaling Deloitte, PwC, EY, and KPMG. Reforms in merger regulations and evolving mindsets are paving the way.

Piyush Goyal, India's Commerce and Industry Minister, has announced the government's plans to foster the growth of large domestic accountancy firms in the country.

This initiative aims to establish an Indian equivalent to the current global 'big four'—Deloitte, PwC, EY, and KPMG—that dominate the accountancy sector.

Goyal highlighted past regulatory and mindset barriers but noted that changes are underway, promising an Indian 'big four' soon.

(With inputs from agencies.)