TFS Gulf 
- India now boasts over 1 lakh Chartered Accountancy firms (as of October 2025).
- While single-partner firms make up 72% of all firms, here’s the twist…
- The real heavy lifting is done by mid-to-large firms, that employ over 20% of India’s entire audit workforce, according to ETCFO.
Mid-tier firms take the lead
The Institute of Chartered Accountants of India (ICAI) just released some eye-opening numbers, and one detail caught everyone’s attention.
As of October 1, 2025, India is home to 1,00,138 registered CA firms employing 1,83,642 professionals, as per ETCFO.
But here’s the real story: A small circle of mid-to-large firms (six or more partners) now dominates the country’s audit and advisory landscape.
“The growing concentration of professionals in mid-to-large firms reflects the increasing scale and complexity of audits and advisory services in India,” ICAI told ETCFO.
Here is an overview of the data
- Proprietary firms (72%) – 68,125
- Partnership firms/LLPs (27.3%) – 27,051
- Sole-practitioner firms (3.8%) – 3,791
- Mid-to-Large Firms (2.1%) – (6+ partners) – 2,100 (As of October 2025)
Mid-to-large firms
Mid-to-large firms (6+ partners) may represent just 2.1% of all registered CA firms, but they employ over 41,000 professionals, accounting for more than 20% of India’s total audit workforce.
These firms handle larger, complex audits and advisory work, leveraging their scale and systems to serve India Inc. efficiently.
Single-partner firms
Single-partner firms dominate the profession numerically.
They make up over 72% of all registered entities, yet employ only around 40% of the workforce.
These smaller firms form the backbone of the CA profession, focusing on routine statutory audits, tax filings, and small business compliance.
While deeply rooted in local economies, they often lack the scale and resources to take on large, complex mandates.
Also read: Shaadi.com for CAs? Yes, ICAI is building digital platform to help CA Firms
West and South India dominate
The geography of the profession tells its own story.
Even the Certificate of Practice (COP) numbers show the same pattern:
- West – 32%: Powered by Mumbai, Pune, and Gujarat, leads with 7,877 partnership firms and 50,434 members.
- Central – 21%: and South: 20% Central and South India follow close behind.
- North – 19%: Delhi NCR, in particular, continues to dominate the North’s audit ecosystem, housing a large concentration of mid-to-large firms.
- East – 8%: The East, however, remains the smallest contributor in both firms and professionals.
Historically, ICAI data shows most firms remain small, typically 2–3 partners, with proprietary setups still dominating. But that’s changing.
Why mid-to-large firms matter more than ever
As companies expand, compliance tightens, and global investors demand higher standards of reporting, scale and specialization are no longer optional.
Here’s what the rise of mid-to-large firms means for the profession:
They handle the complex work
These firms shoulder a disproportionate share of India’s complex audits, from listed companies to large conglomerates and banks.
They have the bandwidth, governance structures, and internal controls to manage multidisciplinary engagements.
A market shift is underway
The growth of larger, multi-partner firms signals a structural shift in the audit market.
Firms are joining forces, sharing resources, and creating specialized teams in tax, advisory, and risk, capabilities that smaller firms struggle to match.
It’s a clear sign that India’s own “Desi Big 4” could be just around the corner.
How smaller firms can scale
Scaling up isn’t easy.
But ICAI’s push for mergers, alliances, and firm networks is changing the game.
India now has 127 professional networks, structured as:
- 19 Alliance Models
- 6 Lead Firm Models
- 102 Network Models
These alliances allow firms to pool expertise, share technology, expand geographically, and bid for larger mandates, exactly how the global Big 4 grew their dominance.
CA firm Networking Portal (Expected to go live by February 2026)
ICAI is developing a digital “networking platform” (or portal) that will serve as a professional matchmaking hub for CA firms.
The portal pairs with ICAI’s revised “Merger & Demerger of CA Firms Guidelines, 2024” and “Aggregation of LLPs Guidelines, 2024”.
“Networked and multi-partner firms enable scaling of expertise and geographic reach, enhancing service coverage across India,” ICAI told ETCFO.
Wrapping up
The numbers reveal a simple truth.
The profession is quietly moving from solo practitioners to scaled, structured entities capable of serving India’s trillion-dollar economy.
And while the Big 4 may still dominate the global scenario, India’s own Desi Big 4, the homegrown mid-to-large firms are fast catching up.
