Key Points
- PwC US and PwC India form joint venture combining advisory operations across both countries
- Sanjeev Krishan to lead combined entity as CEO after deal closes in first half of 2027
- Joint venture targets multinational clients operating Global Capability Centres in India
PwC US and PwC India have announced a joint venture that will combine their advisory operations into a single entity serving clients in both countries and globally, with the deal expected to close in the first half of 2027.
The transaction, announced on 13 September, will merge PwC India’s consulting business with PwC US Advisory’s India-based operations. Sanjeev Krishan, currently chairperson of PwC India, will serve as chief executive officer of the new joint venture. Financial terms were not disclosed.
The combined entity will be jointly owned and governed by PwC US and PwC India. Until regulatory approvals are secured and the transaction closes, both firms will continue operating through their existing structures.
Global Capability Centres
The joint venture is designed to serve multinational companies that operate Global Capability Centres in India. These centres, often called GCCs, are offshore units established by foreign companies to handle technology development, business processes and back-office operations. India hosts more than 1,500 such centres employing over 1.5 million professionals, making it the largest destination for GCC operations globally.
Paul Griggs, senior partner and chief executive officer of PwC US, said the combination addresses how global companies now structure their operations across markets.
“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,” Griggs said. “We’re bringing the full breadth of our advisory talent in India together with PwC US. This isn’t about where work gets done. It’s about building something clients can’t get anywhere else.”
The platform will span strategy, transformation, technology, engineering and artificial intelligence services. PwC said the combined entity will expand its managed services capabilities, where the firm operates parts of client businesses rather than only advising them.
PwC India market focus
Krishan positioned the joint venture as advancing PwC India’s growth trajectory and its stated Vision 2030 objectives.
“Throughout our more than 150 years’ history in the country, we have been committed to the growth of India,” Krishan said. “Our Vision 2030 aligns our commitment to building a Viksit Bharat, and this joint venture is a step in that direction.”
He said the deal would give PwC India’s domestic clients access to global capabilities while providing multinational and GCC clients with more integrated service delivery.
By the numbers
Key figures from this story- H1 2027
- Expected closing date for the transaction
- 150+ years
- PwC India presence in the country
“The capability and client perimeter for our partners and people go up, so they can take on a greater ambition than what we envisioned in Vision 2030,” Krishan said. “It also enables us to make greater investments in our people and in the value we can create for clients.”
For Indian enterprises, the joint venture may offer deeper access to PwC’s global consulting resources without navigating separate firm relationships. For multinationals operating in India, the combined structure could simplify engagement with a single integrated team rather than coordinating between US and India practices.
Regulatory pathway
The transaction remains subject to closing conditions and regulatory approvals in both jurisdictions. Professional services firms in India operate under regulations governing foreign investment and partnership structures, which may require approvals from multiple authorities.
PwC operates as a network of member firms rather than a single global entity, with each country firm independently owned and managed. Cross-border combinations of this nature are uncommon in the professional services sector, where most expansion occurs through organic growth or local acquisitions rather than international joint ventures.
The deal shows broader consolidation trends in the consulting industry, where large firms are seeking scale to compete for enterprise transformation contracts that span multiple geographies. It also signals the strategic importance of India-based delivery capabilities for serving global clients, particularly as artificial intelligence reshapes the nature of professional services work.
Your Questions, Answered
What is the PwC joint venture between US and India?
PwC US and PwC India are combining their advisory operations into a single jointly owned entity. The transaction merges PwC India's consulting business with PwC US Advisory's India-based capabilities to serve clients in both markets and globally.
When will the PwC joint venture close?
The transaction is expected to close in the first half of calendar year 2027, subject to closing conditions and regulatory approvals. Until then, both firms will continue operating through their existing structures.
Who will lead the PwC joint venture?
Sanjeev Krishan, currently chairperson of PwC India, will serve as chief executive officer of the new joint venture after the transaction closes.
How does the PwC joint venture affect Global Capability Centre clients?
The combined platform aims to serve multinational companies operating Global Capability Centres in India more seamlessly, providing integrated access to advisory talent and capabilities across both US and Indian operations.
