TFS Gulf 
- On 13th September, PwC announced that PwC US’ India Acceleration Centres and PwC India’s consulting arm are becoming one.
- According to The Financial Times, this joint venture would consist of over 40,000 professionals.
- It could take PwC India from a $1.3Bn business to about $2Bn on day one, as per The Economic Times.
- The transaction is expected to close in the first half of 2027, subject to regulatory approvals.
What exactly is happening at PwC & why?
For years, PwC US relied on its Indian capability centres, also known as Acceleration Centres (AC).
Established in 2010, these ACs are not just cheap back-office centres.
They are a trusted source of specialised talent that provides overnight support to US teams (non-client-facing) across Advisory, Assurance, Tax, and Business Services.
Now, PwC US’ India Acceleration Centres were operating independently from PwC India’s consulting business. And that separation created an unusual problem.
A PwC US consultant told BI that when the AC lacked capacity, teams would turn to PwC India, but rates and terms had to be renegotiated.
This created unnecessary delays.
The new JV effectively removes that internal friction, or what the source describes as removing the “middle man, PwC AC.”
And then there is AI
Now, PwC is not saying that AI is the reason for the JV…But PwC explicitly says the new platform brings:
- Technology
- Engineering
- AI capabilities together at greater scale
And yes, the move comes at a time when AI is forcing professional services firms to rethink the economics of how work gets delivered.
In fact, Sanjeev Krishan, PwC India Chairperson, told FT that: “Clients transforming their businesses with AI are likely to outsource more work over time.”
Interesting fact
PwC has not disclosed the ownership split. However, The Economic Times reports that:
- PwC US will hold 50.1%
- PwC India gets 49.9%
PwC India could retain operational control of the JV, with Sanjeev Krishan positioned as its CEO.
Also read: PwC exit low-performing markets & cut ties with risky clients
But what are PwC employees thinking?
This seems like good news for PwC India’s consulting talent.
But PwC US and Acceleration Centre employees are asking very different questions:
- If more work is being shifted to India, does it mean fewer opportunities for professionals in the US?
- With AI, why are offshore teams growing?
- PwC Acceleration Employees are asking questions publicly on Reddit: What happens to AC leadership? Will compensation, appraisal cycles, and ways of working change? Could there be layoffs?
Wrapping up…
PwC is not the first Big 4 to rethink how its global advisory operations are structured.
- In April 2025, KPMG India sold its entire 33% stake in KPMG Global Services (KGS) to its US and UK counterparts.
- Then, on 12 June 2025, KPMG India CEO Yezdi Nagporewalla announced internally: “Ownership change is complete w.r.t. Project Himalaya!”
Project Himalaya brings together the collective advisory capabilities of KPMG US, UK and India.
But according to a KPMG India industry insider, the expected growth in work, employees and revenue…has not happened!
The insider also pointed out that there has been “no major inflow of global work to KPMG India (geopolitics could be one reason)” and “no surge in the overall employee chargeability.”
That makes KPMG an interesting comparison for PwC.
KPMG’s Project Himalaya shows that bringing teams together is only the first step.
But there are bigger questions.
Will more high-value global advisory work actually come to India, as AI changes how much work needs to be done by people?
FAQs
Q: What is the difference between PwC India and PwC AC?
PwC India is a domestic member firm of the PWC International network that serves Indian clients. PwC India operates in 21 locations, including Delhi, Gurugram, Bengaluru, Chennai, and Kolkata.
PwC AC (Acceleration Centers) functions as a global delivery center serving international markets like the US. It has offices in Kolkata, Hyderabad, Mumbai, and Bangalore.
Q:. What was PwC India’s total revenue in FY25?
PwC India achieved a revenue of ₹9,200 crore in FY25, growing 22% YOY.
Q: What is PwC’s global revenue?
PwC reported a total revenue of US$56.9 billion for the months ending 30 June 2025. A 2.9% increase over the previous financial year’s gross revenue of US$55.3 billion.
