India, June 17 -- Recent reports suggest that the Prime Minister's Office (PMO) is actively exploring how India can nurture the next generation of global accounting and consulting giants. This is a bold and welcome step one that aligns perfectly with the ambition of Atmanirbhar Bharat and recognises the strategic potential of homegrown professional services firms to compete globally.

To appreciate the significance of this moment, we must first understand how the existing Big Four firms Deloitte, PwC, EY, and KPMG rose to global prominence.

Their ascent wasn't accidental it coincided with the post-war expansion of American and European multinationals. As clients went overseas, audit firms followed, building an international presence out ...