PricewaterhouseCoopers (PwC) US and PwC India have agreed to establish a joint venture (JV) to combine their advisory capabilities and talent across the two countries.
The JV will bring together PwC India’s Consulting business and the India-based operations of PwC US Advisory under a single unit. It will be owned and governed by PwC US and PwC India.
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It will serve clients in India, the US and other international markets, covering services ranging from strategy and transformation to technology, engineering and AI.
The JV will also consolidate managed services at a larger scale, enabling PwC to advise clients and run key parts of their operations.
It is intended to support US-headquartered companies with Global Capability Centres in India, enhance services across major international trade routes and provide a base for developing new approaches as AI changes the way work is delivered.
The arrangement forms part of PwC’s wider plan to develop a more integrated global consulting model, allowing its companies worldwide to access the combined platform’s expertise and workforce.
PwC US senior partner and CEO Paul Griggs said: “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.
“We are bringing the full breadth of our advisory talent in India together with PwC US – one team with the relationships, expertise and scale to deliver for our clients and the PwC network.”
The financial terms of the agreement were not disclosed. The transaction is expected to be completed in the first half of next year, subject to regulatory approval and other closing conditions.
Until completion, PwC US and PwC India will continue operating under their current structures.
PwC India chairperson and incoming CEO of the new JV Sanjeev Krishan said: “For PwC India, this is a testimony to the tremendous journey of growth that we have been on over the last five years and our position of strength in the network.
“It is a matter of great pride for us that PwC India now has an opportunity to play a greater role in the success of our Global Network.”
