The “big four” accounting firms—Deloitte, EY (Ernst & Young), KPMG, and PwC (PricewaterhouseCoopers)—maintain a sizable presence in India, and this presence is anticipated to expand in the future as a result of their diversification into new markets, particularly technology services, according to a report from The Times of India (TOI).

In the whole world, the big four are most recognized for their accounting and auditing services. However, they have expanded their range of services over time.

Today, these businesses offer expert services in industries like management consulting, corporate finance, legal services, etc. The most intriguing addition to their offering, though, has been the addition of technical services. They have engaged a large number of Indian technology specialists to assist this branch of their business.

In India, Deloitte and EY employ roughly 100,000 people. 25% of their total workforce worldwide works here. Around 50,000 individuals are employed by PwC, while around 40,000 work for KPMG in India.

For Deloitte and PwC, more than 50% of the workforce in India is employed in the field of technology services. A third of EY and KPMG’s staff in India are employed in technological services, according to a TOI article.

The majority of employment for technology services took place in the most recent few years, during which time there was an exceptional spike in demand and a significant increase in worldwide technology investment.

Plans for expansion

According to the publication, Deloitte intends to hire an additional 50,000 people over the next three years to support its technology services division. These established accounting firms are now directly competing with well-known IT services companies, including both Indian and foreign brands, as a result of their growing interest in technological services.

According to a comment from Satish Gopalaiah, president of Deloitte South Asia, “Clients come to us claiming they want to alter the organization.” They want us to advise them on the ideal format for their business plan and the most effective methods for carrying it out. Therefore, we collaborate fully with these businesses.

As a result, the tech team assists with the systems that will increase the value of the firm, while the consulting team gives customers advice on the business plan.

The IT stack for EY centers in the Philippines, Australia, and other countries is being built by EY India. Half of the 30,000 members of EY India’s IT team are tech consultants. Since the COVID-19 epidemic, the company has increased the number of Information Technology personnel.

A total of 10,000 people at PwC assist with overseas deliveries, in addition to 17,500 committed technical resources that are working with Indian clients. According to the TOI article, PwC India launched three new offices last year in Bhubaneswar, Jaipur, and Noida with the intention of focusing on acquiring local individuals with a high level of competence.