A recent report by The Indian Express has shed light on the immense influence exerted by the Big Five consultancy firms in India. PricewaterhouseCoopers (PwC), Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, KPMG International Limited, and McKinsey & Company have collectively secured almost ₹500 crore in assignments from the Central Government.
The comprehensive report analyzed data from April 2017 to June 2022, highlighting that these firms were awarded a staggering 308 assignments from several government departments, 16 ministries, and organizations. The range of consulting services provided by these firms spanned across various sectors, including Petroleum and Natural Gas, Rural Development, Administrative Reforms and Public Grievances, Promotion of Industry and Internal Trade, and many more.
The nature of the projects was diverse, encompassing technical consultancy, financial due diligence, evaluation of nominations for e-governance awards, and advisory services among others. PwC emerged as the frontrunner among the Big Five, securing a remarkable 92 contracts worth over ₹156 crore during the period. Deloitte closely followed with 59 assignments valued at ₹130.13 crore.
Earnest & Young (E&Y) managed to secure 87 contracts amounting to ₹88.05 crore, while KPMG and McKinsey obtained 66 contracts worth ₹68.46 crore and three contracts worth ₹50.09 crore, respectively.
The sectors that contributed the most to these extensive contracts were the petroleum sector, which amassed assignments worth over ₹170 crore, and the power sector, which outsourced works totaling ₹166.41 crore.
As per the report, the Ministry of Tourism awarded contracts amounting to at least ₹18 crore to E&Y, while the NITI Aayog sought the consultancy services of various firms for the evaluation of centrally sponsored schemes, with a cumulative value of ₹17.43 crore during 2019-2021.
This report highlights the dominance of these Big Five consultancy firms in the Indian government’s decision-making processes. With their expertise and extensive track record, these firms play a crucial role in shaping policies and initiatives that impact the nation as a whole.
FAQ:
Q: How many assignments were secured by the Big Five consultancy firms from the Indian government?
A: The Big Five consultancy firms secured 308 assignments from the Indian government.
Q: Which firm obtained the most contracts during the specified period?
A: PricewaterhouseCoopers (PwC) obtained the most contracts during the specified period, with a total of 92 contracts.
Q: Which sectors contributed the most to the extensive contracts?
A: The petroleum sector and the power sector contributed the most to the extensive contracts.
Q: Which ministry awarded contracts worth ₹18 crore to E&Y?
A: The Ministry of Tourism awarded contracts worth ₹18 crore to E&Y.
Q: What services did the NITI Aayog seek consultancy for?
A: The NITI Aayog sought consultancy for the evaluation of centrally sponsored schemes.