India’s rise in sectors such as steel, telecom, software, and automobiles—underwritten by targeted government support—has propelled it into global leadership. Tax incentives powered the IT revolution, protective duties nudged manufacturing, and industrial policy nurtured the auto sector. As we enter India’s century, as many experts are calling it, the logical next frontier is professional services. But one sector remains conspicuously underdeveloped: advisory and consulting.Today, India's advisory ecosystem is dominated by foreign-origin professional firms, essentially member firms of large global consulting firms. These firms, collectively forecast to earn over ₹45,000 cr in FY25, operate across multiple areas such as public sector mandates, infrastructure planning, digital governance, and transaction advisory. This also leads to royalties flowing abroad and profit-sharing with global entities while IP creation in India suffers. Meanwhile, despite depth in talent and global experience, no Indian-origin firm has scaled anywhere near this level. This imbalance persists because artificial barriers, such as restrictive pre-qualification requirements, no additional Governmental support, which results in Indian professional services firm not being able to scale quickly.Also Read: Panel may be set up for creating India's 'Big Four' Prime Minister Narendra Modi has highlighted the need for Indian firms to scale global heights in advisory and consulting. The direction is clear: “India’s decade” of growth must evolve into India’s century, and that requires not just manufacturing and software, but homegrown advisory and audit powerhouses.Why India must build its ownNational Security & Data Sovereignty: As geopolitical volatility intensifies, allowing foreign firms to handle critical government and infrastructure advisory poses security vulnerabilities. If sensitive data and frameworks are stewarded outside India’s jurisdiction, risk multiplies. Similarly, there could always be a risk of global firms not adhering to India’s interests, as was seen in case of recent global geopolitical challenges. IP Creation & Domestic Capability: Global consulting firms retain proprietary methodologies and tools, paying royalty fees abroad that drain domestic IP development. This stifles our ability to innovate India-centric advisory models tailored to our economic complexity.Artificial Barriers to Entry: Qualification criteria in large tenders are skewed–past experience with international clients, global network affiliation, or high turnover gatekeep Indian firms. This perfectly engineered disqualification cycle keeps domestic firms small.Limited Knowledge Transfer: Indian affiliates of foreign firms largely function as execution arms, not strategy centers. Most domestic value creation, leadership power, and profits remain locked overseas.Also Read: We will have our big four in India soon: GoyalHow do we create our own Indian Big 4sTo correct the structural imbalance in India’s professional services sector, the government must adopt an enabling and strategic approach. Key recommendations include:Reserve public consulting contracts below ₹10 crore for Indian-origin firms, with at least 40% of overall annual advisory procurement value allocated to them. This ensures meaningful access and market development for homegrown players.Reform Pre-Qualification (PQ) norms that favour high global turnover or international affiliations. Capability, sectoral expertise, and team quality—not revenue size—should drive eligibility.Prioritise Indian firms in digital-era sectors. A portion of AI, cloud, energy transition, and BFSI reform projects should be earmarked for domestic consultants, backed by performance-linked incentives or partial co-funding.Reform State-Level Tiering and PQ Criteria: State governments must revise tender rules that exclude domestic firms through arbitrary revenue thresholds or legacy international credentials. Instead, eligibility should be based on team quality, relevant experience, and outcome track records.Launch a ₹10,000 crore “Professional Services Growth Fund”, seeded by Government organizations such as SIDBI and LIC, to help Indian firms expand globally through acquisitions in ASEAN, Africa, and the Gulf.Launch a ‘National Quality Framework’ for Consulting: Regulators like SEBI, RBI, and IRDAI should develop clear Indian-origin firm accreditation standards, and issue guidance encouraging clients to engage certified Indian consultants. Brand and elevate Indian consulting globally through an “IndiPro Global” campaign—akin to Make in India—anchored by DPIIT and MEA.Mandate joint audits in large PSUs and listed companies, ensuring Indian firms get equal mandates alongside foreign networks. Even the Chamber of Tax Consultants had previously highlighted the necessity. Create a government-backed “audit-tech stack”, open to all registered audit firms, enabling technology parity with global players.Use Trade Deals to Open Markets for Indian Firms: if UK or US firms can access Indian public procurement, Indian firms should be allowed into their government or regulatory projects. Indian qualifications should be recognised abroad as part of trade diplomacy.These measures, collectively, will help India create globally competitive, credible, and sovereign professional-service institutions.(The author is CEO & MD of Primus Partners)