PwC India, US Join Forces in New JV With 40,000 Employees

A joint venture between PwC India and PwC US has been launched. This venture will merge PwC India's consulting practice with PwC US's acceleration centres in India to establish a new platform.

The platform is expected to have 40,000 employees upon its introduction. The goal of the proposed business is to split PwC India into two consulting firms. The new joint venture must first receive regulatory clearances, such as an OK from India's Competition Commission, before it can be formed.

The New Structure of PwC India and PwC US JV

The proposed structure calls for PwC India to own 49.9% of the company and PwC US to own 50.1%. Operating control, including that of the US-run acceleration centres, would reside with PwC India, according to Sanjeev Krishan, chairperson of PwC India. This makes it a jointly controlled corporation. Krishan will also head up the joint venture as its CEO.

The consulting operations of PwC India, including management, technology, and risk consulting, as well as PwC US Advisory's skills in India, would be merged into the new firm. The joint venture will not include PwC India's audit, tax, transactions, or specific government advisory operations.

According to PwC US and PwC India, the new platform will bring together advising skills and talent from both countries. Hence, creating a seamless experience for customers in both India and the US, as well as international markets. While scaling managed services, it should address client needs in areas such as strategy, transformation, engineering, and artificial intelligence.

PwC India Expanding its Presence in the Country

Adding the acceleration centre staff will greatly increase PwC India's scale, which is already at over 33,000 employees. The company's goal is to increase its growth rate fivefold in the next three years, which is higher than the threefold growth rate projected in PwC India's Vision 2030. Given the necessary clearances, PwC India's business is projected to surge from 1.3 billion USD to around 2 billion USD on day one as a result of the merger.

According to Paul Griggs, the senior partner and CEO of PwC US, organisations that achieve success will cease to regard markets, capabilities, and delivery as unrelated. The merger will unite PwC's advisory talent in India with PwC US. Further, creating a unified team that can better serve customers and the PwC network as a whole thanks to its size, knowledge, and extensive client contacts.

He elaborated by saying that by bringing together the best of PwC around customers' most significant possibilities, they want to create something they can't get anywhere else. The subsequent stage is initiated by the signing. Depending on the outcome of regulatory reviews and other factors, the deal might close as early as the middle of 2027. Until then, the current frameworks will allow PwC US and PwC India to continue serving clients.