India's top professional services firms are experiencing unprecedented growth, with partner counts exceeding 3,300. The post-COVID period has seen a surge in advisory services, as firms pivot towards high-growth areas like technology consulting. Firms like Deloitte, Grant Thornton, and BDO are rapidly expanding, driven by robust demand and India's thriving talent pool. This growth reflects the country's robust economic trajectory and its ability to nurture innovative solutions for the global market.
India's top professional services firms are experiencing unprecedented growth and expansion, driven by increasing demand for their expertise across diverse business domains. The combined partner count of the leading firms now exceeds 3,300, showcasing the country's ability to cultivate a thriving ecosystem of skilled professionals.
The post-COVID period has seen a remarkable surge in the advisory businesses of these firms, with consulting, deals, and risk services growing by over 25% - outpacing the more traditional areas of audit and tax. This pivot towards high-growth advisory services, including cutting-edge technology consulting and implementation, has been a strategic move to cater to the evolving needs of the dynamic Indian market.
"The country's growth trajectory empowers us to cultivate new leaders and drive groundbreaking innovation from India," said Romal Shetty, CEO of Deloitte South Asia. "Deloitte is currently the fastest-growing large firm in India, and we are significantly expanding our partnership due to robust demand for our services. We are building innovation not just for India, but for the world."
The growth is not limited to the Big Four firms. Grant Thornton Bharat and its associate audit firm, Walker Chandiok & Co, have added 59 new partners in the last year, with the firm now boasting 224 partners. "GT Bharat is already considered the first Indian Big Four — both clients and talent are now attracted to that Indian-global proposition, something we have been promoting now for 25 years," said Vishesh Chandiok, CEO of Grant Thornton Bharat.
Similarly, BDO, India's sixth-largest professional services company, has scaled up from 15 partners a decade ago to 219 partners currently. "There was a clear need for a firm like BDO in a growing economy like India. Companies were looking for a non-Big Four quality firm. We took risks and invested money ahead of the opportunity, and now we will cross 10,000 people in August," said Milind Kothari, CEO of BDO India.
The drive for expansion is not limited to the partner count; the firms are also investing in their middle and senior-level leadership. Deloitte has over 200 executive directors, while PwC's partner pipeline for the next year is over 100, with new executive director promotions expected to cross 110.
"To stay ahead in the business-critical fields of AI, business model reinvention, climate and sustainability, cyber, tax, and trust, we have strategically invested in the acquisition and development of top-tier leadership talent," said Sanjeev Krishan, Chairman of PwC India.
The growth in India's professional services sector reflects the country's robust economic trajectory and its ability to nurture a diverse and innovative talent pool. As these firms continue to expand their footprint and capabilities, they are poised to drive groundbreaking solutions not just for the Indian market, but for the global economy as well.
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