The Institute of Chartered Accountants of India (ICAI) has announced that establishing India’s own league of large, globally competitive accounting and auditing firms—parallel to the world’s “Big 4”—has become a national priority. ICAI President Ranjeet Kumar Agarwal said this vision is crucial for strengthening the country’s financial architecture, reducing dependence on international networks, and positioning India as a global centre for audit excellence.

Agarwal noted that India’s rapidly expanding economy requires robust, multi-disciplinary professional services firms capable of handling complex audits, cross-border regulatory requirements, and multinational corporate structures. Despite a large base of Chartered Accountants, most Indian CA firms remain small or mid-sized, limiting their ability to compete with global giants.

ICAI believes the current landscape presents an ideal opportunity for consolidation, collaboration, and capability building. By encouraging Indian firms to scale into full-service entities offering audit, tax, advisory, ESG reporting, digital assurance, and forensic services, the country can strengthen financial sovereignty and elevate its global presence.

This initiative supports the government’s Atmanirbhar Bharat mission, promoting self-reliance in strategic professional domains. Agarwal identified emerging fields such as sustainability reporting, digital trust, forensic audits, and AI-driven financial analytics as high-growth areas where Indian firms can establish leadership.

To enable this transformation, ICAI is developing a roadmap comprising policy recommendations, capacity-building initiatives, and guidance to help firms expand through mergers, alliances, and international partnerships.

Agarwal emphasized that the goal is not merely to create large firms, but to build Indian champions that meet global standards while representing the country’s rising economic influence on the world stage.