Latest news with #Nifty-500
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First Post
4 days ago
- Business
- First Post
Why India is considering its own 'Big Four' accountancy firms
The Prime Minister's Office (PMO) has reportedly called a meeting today to discuss the feasibility of developing large domestic consulting firms similar to the Big Four — Deloitte, PwC or EY, and KPMG. This comes as India wants to build self-reliance in the professional services industry read more India is trying to reduce dependence on foreign advisory firms. Representational Image/Pixabay India is mulling its own 'Big Four' accountancy firms. Currently, Deloitte, PwC or PricewaterhouseCoopers, Ernst & Young (EY), and KPMG dominate the professional services industry globally. The Big Four, along with Grant Thornton and BDO, also govern India's audit environment. Now, the Central government is exploring the feasibility of creating large domestic consulting firms similar to the Big Four. The Prime Minister's Office (PMO) is reportedly holding a meeting today (June 6) to discuss the proposal. STORY CONTINUES BELOW THIS AD Let's take a closer look. PMO's key meeting On Thursday, the PMO called a meeting to deliberate on the possibility of developing homegrown accountancy firms equivalent to the Big Four, as per a Moneycontrol report. The key meeting will be headed by Shaktikanta Das , principal secretary to the Prime Minister. Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister (EAC-PM), is slated to give a presentation to analyse the feasibility and draw a blueprint for establishing Indian consulting firms with global credibility. 'Das will hold a meeting on 'Can India build big-4 consulting firms'. There will be a presentation by Sanyal. Secretaries of economic affairs Ajay Seth, corporate affairs Deepti Mukherjee, revenue Arvind Shrivastava, and financial services M Nagaraju are also likely to attend the high-level meeting,' one of the sources told Moneycontrol. They are likely to discuss regulatory changes and other policy interventions required for the expansion of domestic accounting firms and to increase their competitiveness. What's the aim behind it? The Indian government is trying to reduce dependence on foreign advisory firms and build globally competitive names in the professional services industry. The affiliates of Big Four, along with Grant Thornton and BDO, have handled assignments of 326 of the 486 Nifty-500 companies as of March 2025, as per a report. The Indian arms of the Big Four posted a combined revenue of Rs 38,800 crore in the financial year 24. This could further exceed Rs 45,000 crore in FY25. 'These firms have become deeply embedded in the functioning of government and PSUs (Public Sector Undertakings). The next logical step is to explore whether India can create its own champions in this space,' the source cited above told Moneycontrol. STORY CONTINUES BELOW THIS AD India's large homegrown consultancy firms would help it avoid overdependence on global players. 'This isn't just about creating competition to the Big Four. It's about recognising consulting as an important industry,' sources said. Speaking to Deccan Herald (DH) recently, Institute of Chartered Accountants of India (ICAI) President CA Charanjot Singh Nanda highlighted the steps taken to develop a big accounting firm to match up with the Big Four. 'To support the growth of Indian CA firms and emphasise the strategic importance of aggregation for enhancing operational efficiency, global competitiveness and professional growth, ICAI established the Committee for Aggregation of CA Firms (CACAF).' He also said that ICAI, a statutory body for regulating the profession of chartered accountancy, has revised guidelines for the merger and demerger of CA firms. 'The revised guidelines aim to encourage firms to explore strategic mergers which can significantly enhance their market presence, operational efficiency, among others. Recently, the Council also approved draft guidelines for Overseas Network, the same will be released shortly for Public Exposure for 21 days. These guidelines aim to establish a structured and regulated pathway for networking and collaboration,' he added. STORY CONTINUES BELOW THIS AD 'This initiative is designed to foster global connectivity, enhance professional opportunities for Indian CA firms, uphold the integrity and quality of services delivered as well as to support the evolving needs of the profession in an interconnected world,' Nanda said. With inputs from agencies
Time of India
5 days ago
- Business
- Time of India
PMO to meet today for creating India's 'Big Four'
The Prime Minister's Office is convening a meeting on Friday to explore strategies for fostering the growth of large, domestic accountancy firms to rival the dominance of the 'Big Four'. Chaired by Shaktikanta Das, the meeting will assess potential regulatory changes and interventions to facilitate the scaling up of Indian firms. Tired of too many ads? Remove Ads New Delhi: The Prime Minister's Office (PMO) is scheduled to hold a crucial meeting on Friday to deliberate on ways to create large home-grown accountancy firms akin to the so-called 'Big Four', people aware of the details told meeting-to be chaired by Shaktikanta Das, principal secretary to Prime Minister Narendra Modi-will likely discuss plans to weigh necessary regulatory changes and other interventions to make it easier for domestic accounting firms to scale up, one of the people said. It will be attended by senior officials with the Prime Minister's Office and the corporate affairs ministry, among present, the Big Four-EY, Deloitte, KPMG, PwC-along with Grant Thornton and BDO dominate the Indian audit ecosystem, with their affiliates having handled assignments of 326 of the 486 Nifty-500 companies as of March 2025, according to a combined revenue of the Indian affiliates of the Big Four, by some industry estimates, may have exceeded as much as Rs 45,000 crore last meeting comes at a time when the Modi government is making a renewed push to create large home-grown accounting firms
Economic Times
5 days ago
- Business
- Economic Times
PMO to meet today for creating India's 'Big Four'
The Prime Minister's Office is convening a meeting on Friday to explore strategies for fostering the growth of large, domestic accountancy firms to rival the dominance of the 'Big Four'. Chaired by Shaktikanta Das, the meeting will assess potential regulatory changes and interventions to facilitate the scaling up of Indian firms. Tired of too many ads? Remove Ads New Delhi: The Prime Minister's Office (PMO) is scheduled to hold a crucial meeting on Friday to deliberate on ways to create large home-grown accountancy firms akin to the so-called 'Big Four', people aware of the details told meeting-to be chaired by Shaktikanta Das, principal secretary to Prime Minister Narendra Modi-will likely discuss plans to weigh necessary regulatory changes and other interventions to make it easier for domestic accounting firms to scale up, one of the people said. It will be attended by senior officials with the Prime Minister's Office and the corporate affairs ministry, among present, the Big Four-EY, Deloitte, KPMG, PwC-along with Grant Thornton and BDO dominate the Indian audit ecosystem, with their affiliates having handled assignments of 326 of the 486 Nifty-500 companies as of March 2025, according to a combined revenue of the Indian affiliates of the Big Four, by some industry estimates, may have exceeded as much as Rs 45,000 crore last meeting comes at a time when the Modi government is making a renewed push to create large home-grown accounting firms
The Hindu
22-05-2025
- Business
- The Hindu
India stands well-positioned to navigate ongoing global headwinds: RBI Bulletin
Amidst global uncertainty when the global economic outlook remains clouded amidst shifting policy landscapes and lingering vulnerabilities the outlook for India is one of 'cautious optimism' said Reserve Bank of India official in the May edition of RBI Bulletin. 'According to IMF projections of April 2025, India is projected to remain the fastest growing major economy in 2025 and is likely to surpass Japan this year to become the world's fourth largest economy,' they said in the State of the Economy article. 'Inflation pressure has eased significantly and is poised for a durable alignment with the target in 2025-26. The prospects of bumper rabi harvest and the outlook of an above normal monsoon would further strengthen rural consumption and is also likely to keep food inflation in check. Consumers and businesses remain confident, supportive for a strengthening of economic activity,' they stated. They emphasised that the Indian economy continued to be ring-fenced by stability encompassing monetary, financial and political stability; policy consistency and certainty; congenial business environment; and strong macroeconomic fundamentals along with a policy ecosystem that is transparent, rule-based, and forward-looking. 'In the midst of global trade realignments and industrial policy shifts, India is increasingly positioned to function as a 'connector country' that can become a key intermediary in sectors such as technology, digital services and pharmaceuticals,' they stated. In this scenario, the recent completion of free trade agreement with UK points to a strengthening of bilateral trade linkages, they pointed out. 'Going forward, notwithstanding the daunting challenges in the horizon, India stands well-positioned to navigate the ongoing global headwinds with confidence, ready to harness emerging opportunities and consolidate its role as a key driver of global growth,' they stated. They said during the month the Indian rupee moved within a narrow range and exhibited lower volatility compared to peer economies. But the escalation of tensions between India and Pakistan rendered financial markets 'volatile with India VIX seeing a substantial jump', they stated. 'Domestic financial markets sentiments witnessed a turnaround thereafter amidst easing India-Pakistan tensions, an improvement in the global trade scenario, and softer domestic inflation,' the officials wrote in the article. 'Amidst uncertainties on global capital flows, it is noteworthy that domestic institutional investors (DIls) have surpassed FPIs in ownership of Nifty-500 companies in March 2025. This marks a structural shift in Indian equity markets as DIls, including mutual funds and insurance companies, increasingly offset the volatility caused by FPIs, with retail and systematic investment plan (SIP) flows providing a steady long-term investment base,' they pointed out. The measures undertaken by the Reserve Bank since January 2025 have significantly eased liquidity conditions and calmed financial markets, they highlighted.
Time of India
09-05-2025
- Business
- Time of India
DII holdings in Nifty 50 surge to a record high of 23.6%. Axis Bank among top 5 choices
Domestic Institutional Investors (DIIs) have increased their holdings in the Nifty-50 universe to an all-time high of 23.6% as of March 2025, up by 240 basis points (bps) year-on-year (YoY) and 40 bps quarter-on-quarter (QoQ), according to a report by domestic brokerage firm Motilal Oswal. Motilal Oswal further noted that DII holdings in the Nifty-500 have also climbed to a record 19.2%. In contrast, FII holdings have declined for the fourth consecutive quarter to 24.7% as of March 2025, down by 50 bps YoY and 20 bps QoQ. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Innovative Jackets for Mountain Adventures [Buy Now] Trek Kit India Learn More Undo This surge in DII holdings comes as Foreign Institutional Investors (FIIs) have reduced their stakes in more than 80% of the stocks in the Nifty-500 universe. The brokerage report further revealed that DIIs raised their stakes in 42 Nifty-50 companies on a YoY basis, while FIIs reduced their holdings in 41 companies. On a quarterly basis, DIIs increased their stakes in 41 stocks, while FIIs cut stakes in 38 stocks. Among the top gainers in DII holdings were Axis Bank , IndusInd Bank, Dr. Reddy's Labs, HDFC Life Insurance, Kotak Mahindra Bank, and Eicher Motors, each posting a YoY increase of more than 4% in DII exposure. On the other hand, Hindalco and Bharat Electronics witnessed a YoY decline of more than 1% in DII holdings. Live Events Meanwhile, FIIs reduced their stakes by over 4% in key names such as Maruti Suzuki, Larsen & Toubro, Kotak Mahindra Bank, HDFC Life Insurance, Dr. Reddy's Labs, and Trent. Also read: India-Pakistan conflict: No military solution possible, it will ultimately be a political solution: Swaminathan Aiyar According to the report, the FII-DII ownership ratio in the Nifty-500 contracted to an all-time low of 1x in March 2025, down 10 bps YoY and flat QoQ. The ratio has expanded only in select sectors, including NBFC Non-Lending, Media, Infra, EMS, and Telecom, while contracting in Technology, PSU Banks, Consumer, and Oil & Gas. Sectorally, FIIs were observed to be significantly overweight in the BFSI sector, which accounted for 34.4% of their Nifty-500 allocation, up by 280 bps YoY and 300 bps QoQ. This was followed by Technology (10%), Automobiles (6.9%), and Healthcare (6.5%). In contrast, DIIs were overweight on Consumer, Oil &Gas, and Metals while underweight on Private Banks, NBFCs, and Real Estate, according to the brokerage report. The top 5 sectoral holdings of DIIs in the Nifty-500 accounted for 62% of the total allocation — BFSI (27.3%), Consumer (9.8%), Technology (9.3%), O&G (8.5%), and Automobiles (7%). Motilal Oswal also highlighted that among the top 5 stocks by holding value, HDFC Bank, ITC, ICICI Bank, Reliance, and Infosys were the dominant stocks in the DII portfolio. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
