Crowe's India Investment Targets Booming Advisory Market

CHICAGO, IL – January 14, 2026 – In a significant move to expand its global footprint, Crowe LLP, a leading U.S. public accounting and consulting firm, has announced a strategic investment in Crowe Advisory Services India LLP (CAS). The deal aims to enhance the firm's consulting capabilities in one of the world's most dynamic and rapidly expanding economies, positioning it to better compete in a fiercely contested market.

The investment solidifies the relationship between two independent members of the Crowe Global network, a worldwide association of over 200 accounting and advisory firms. While the financial terms of the deal were not disclosed, the strategic implications are clear: Crowe is doubling down on India's growth story.

Tapping a High-Growth Market

Crowe's investment is timed to capitalize on the explosive growth of India's advisory and consulting sector. The Indian management consulting market, valued at over $8.3 billion in 2025, is on a steep upward trajectory. Projections indicate the market will surge from approximately $9.36 billion in 2026 to over $17 billion by 2031, reflecting a compound annual growth rate (CAGR) of nearly 12.7%. Related sectors, such as IT and cloud professional services, are growing even faster, with projected CAGRs of 13.9% and 19.11% respectively.

This rapid expansion is fueled by a confluence of factors. India's large corporations are accelerating their spending on digital transformation, while new regulations, such as mandatory ESG reporting, are creating fresh demand for specialized advisory services. The proliferation of Global Capability Centres (GCCs) and a booming startup ecosystem, backed by venture capital, are also driving the need for expert guidance on growth strategy, operational efficiency, and risk management.

However, this lucrative market is not without intense competition. Crowe will be vying for market share against established global giants like McKinsey and Boston Consulting Group, the dominant 'Big Four' firms—Deloitte, PwC, EY, and KPMG—and powerful Indian IT-services majors such as Tata Consultancy Services (TCS) and Infosys Consulting, which leverage their vast workforces and deep technology integration.

A Strategic Play for Global Expansion

The investment in CAS India is a cornerstone of Crowe LLP's broader international growth strategy. It follows a pattern of strategic expansion by the Crowe Global network, which reported $5.8 billion in revenue for 2024 and recently welcomed new member firms in China, Indonesia, and other key regions. The move underscores a wider trend among professional services firms to deepen their presence in high-potential emerging economies.

In a statement, Crowe LLP CEO Steven Strammello emphasized the strategic rationale. "We aim to accelerate growth in the India advisory and consulting market by providing unparalleled value to our clients through expanded resources and enhanced market insights," he said. "The combined capabilities, relationships and global perspective will enhance market opportunities for us in India."

By strengthening its ties with CAS India, which operates from eight offices with 28 partners and directors, Crowe LLP gains deeper access to local talent and market intelligence. This move is not just about planting a flag; it's about embedding the firm more deeply into the fabric of the Indian business landscape.

Enhancing Client Value and Expertise

For multinational corporations navigating the complexities of the Indian market, the collaboration promises a more robust and integrated service offering. The partnership combines Crowe LLP's global resources and methodologies with CAS India's specialized local expertise. CAS already provides a wide array of services crucial for international business, including direct and indirect tax, transfer pricing, M&A support, due diligence, and cybersecurity.

The collaboration is set to enhance these offerings, providing clients with a seamless experience that addresses both global standards and local nuances. This is particularly valuable in a country with a dynamic regulatory environment. The recent liberalization of India's Foreign Direct Investment (FDI) policies, which permits 100% foreign ownership in the professional services sector via the automatic route, has made market entry easier, but navigating compliance remains complex.

CAS CEO Vijay Thacker highlighted the benefits for clients and the firm's market position. "This coming together of our two organizations will support the growth of our advisory and consulting services across India," Thacker stated. "Deeper collaboration between the firms will provide our clients with access to enhanced services, while expanding our market reach with innovative solutions, technology and greater global capabilities."

A key differentiator for the enhanced partnership could be CAS India's focus on advanced data analytics. The firm's Data & Business Analysis Division, established in alliance with Analytics Quad4 India, provides expertise in AI, machine learning, and predictive analysis—capabilities that are in high demand as businesses seek to leverage data for a competitive edge.

A Hybrid Model for a Complex Market

Notably, Crowe LLP chose a 'strategic investment' rather than a full acquisition. This approach allows CAS India to remain an independent member of the Crowe Global network, creating a hybrid model that balances global integration with local autonomy. This structure is often seen as more agile and effective in diverse markets like India, as it empowers local leadership to respond quickly to market shifts while still drawing on the vast resources and knowledge base of a global network.

The transaction underscores Crowe LLP's long-term vision, which prioritizes knowledge sharing, innovation, and the development of tailored offerings for an international client base. By fostering a deeper, more collaborative relationship with its Indian counterpart, Crowe is not just investing in a company; it is investing in a strategic capability. This move signals a sophisticated understanding of the modern professional services landscape, where success depends on the ability to be both globally connected and locally relevant.