PwC US and PwC India Form Joint Consulting Venture Targeting $2 Billion Scale

PwC US and PwC India have agreed to form a strategic joint venture that will combine PwC India's consulting business with PwC US Advisory's India-based acceleration centers to create a unified 40,000-employee advisory platform. The proposed transaction, slated to close in the first half of calendar year 2027 subject to regulatory clearances, is expected to immediately elevate PwC India from a $1.3 billion operation to a $2 billion business on day one.

The newly integrated structure will house management consulting, technology consulting, risk consulting, and India-based acceleration center capabilities under a joint operating model. While PwC US will hold a 50.1 percent stake and PwC India will hold 49.9 percent, operating control will rest with PwC India. Sanjeev Krishan, Chairperson of PwC India, will serve as the chief executive officer of the joint venture, while PwC India's traditional audit, tax, and deals practices, along with select government advisory work, will remain outside the new entity.

The joint venture is designed to bridge the gap between global strategy formulation and localized execution, specifically addressing friction points in mandates won by partners in the US or Europe but delivered through Indian operations. By bringing together advisory talent and acceleration centers onto a single platform, the firms intend to offer comprehensive services spanning strategy, business transformation, technology, engineering, and artificial intelligence at greater scale.

Leadership from both member firms emphasized that the combination aims to dismantle traditional silos between geographic markets and delivery units. "The firms that win will be the ones that stop thinking about markets, capabilities, and delivery as separate pieces. That's what makes this combination so powerful," said Paul Griggs, PwC US Senior Partner and CEO, highlighting that the platform is engineered around major global trade flows and enterprise transformations.

The restructuring directly targets the rapidly expanding Global Capability Center segment in India, where multinational enterprises increasingly centralize core engineering, technology, and business operations. The combined platform aims to provide seamless advisory and managed services to US-headquartered corporations operating GCCs in India, while simultaneously expanding domestic market access to global capabilities.

Sanjeev Krishan noted that the venture aligns with the firm's broader Vision 2030 objectives while enabling a significantly accelerated growth trajectory. "This brings together strengths that used to sit in different places, allowing us to better serve clients across the world by combining the might of PwC's global consulting capabilities with the best talent from India," Krishan said, noting that the arrangement gives domestic clients access to best-in-class global capabilities.

Financial terms of the transaction were not publicly disclosed by either firm. Until the agreement formally closes, PwC US and PwC India will continue to serve clients through their existing separate structures and operational workflows.

The completion of the joint venture remains conditional upon customary closing requirements and statutory regulatory approvals, including clearance from the Competition Commission of India. Pending those approvals in the first half of 2027, the venture marks a structural shift for PwC India, expanding its operational remit from a regional market practice into a primary engine for global consulting delivery.