PwC India and PwC US to Form 40,000-Employee Consulting Joint Venture

PwC India and PwC US announced on Monday that they will combine their consulting operations into a new joint venture with 40,000 employees at launch, one of the largest restructurings yet among the Big Four firms as they race to reposition consulting businesses around artificial intelligence and integrated global delivery.

How The Venture Is Structured

Under the proposed arrangement, the new entity will merge PwC India's existing consulting practice, spanning management, technology and risk consulting, with PwC US Advisory's India-based acceleration centres. PwC India's audit, tax, deals businesses and certain government advisory work will remain outside the venture and continue operating separately. Ownership will be split 50.1 percent to PwC US and 49.9 percent to PwC India, but operating control will rest with PwC India, making it a jointly controlled rather than US-led entity. Sanjeev Krishan, chairperson of PwC India, will also serve as chief executive of the new venture.

The Numbers Behind The Deal

PwC India currently employs about 33,000 people, and the addition of the US acceleration-centre workforce is expected to substantially expand that base to the announced 40,000 at launch. The combined platform is projected to generate approximately $1.5 billion in revenue from day one, lifting PwC India's overall business from roughly $1.3 billion to about $2 billion, subject to the deal closing as planned. The firm has set an ambitious growth target of five times its current scale within three years, a marked acceleration from the threefold-in-five-years goal set out in PwC India's own Vision 2030 plan.

Why Now

The move comes as global consulting firms face mounting pressure to consolidate delivery capacity in lower-cost, high-talent markets like India while building artificial intelligence capabilities directly into client-facing services. PwC US senior partner and chief executive Paul Griggs said firms that succeed going forward will be those that stop treating markets, capabilities and delivery as separate functions, framing the venture as a way to offer clients scale and expertise unavailable elsewhere in the PwC network. The announcement follows PwC's broader push into AI-enabled consulting, including an earlier initiative training tens of thousands of its staff on enterprise AI tools.

What Happens Next

The transaction is expected to close in the first half of 2027, pending regulatory approvals including clearance from the Competition Commission of India. Until then, PwC US and PwC India will continue to serve clients through their existing separate structures. For India's consulting and technology services sector, the deal signals growing confidence among global professional services firms in deepening rather than merely outsourcing delivery capacity in the country, a trend that has accelerated as AI reshapes how consulting work is priced, staffed and delivered across borders.

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