In continuation of the Azadi Ka Amrit Mahotsav—the Government of India’s celebration of 75+ years of progressive and inclusive development—the Ministry of Corporate Affairs (MCA) has taken a significant step to shape the future of the Indian consulting and auditing landscape. On 17th September 2025, the MCA announced an invitation for public comments on the establishment of Indian Multidisciplinary Partnership (MDP) firms, reflecting its commitment to participative governance and transparent policymaking.
A Strategic Move for Reform
The Ministry has constituted an Inter-Ministerial Group (IMG) under the chairpersonship of the Secretary, Ministry of Corporate Affairs, to develop a robust domestic ecosystem for consulting and auditing firms. The IMG aims to address current regulatory challenges, enable better service delivery, and enhance competitiveness in a global environment.
The introduction of MDP firms is a forward-looking reform that envisions a new class of professional firms combining multiple disciplines—such as auditing, legal, management consulting, and financial advisory—under a single entity. This model has the potential to bring about greater innovation, efficiency, and holistic client service, in line with global best practices.
Inviting Stakeholder Participation
The Ministry has placed a background note regarding the establishment of Indian MDP firms on its official website under the “Notices” and “e-Consultation Module” sections at www.mcagov.in.
All stakeholders—including professionals, industry bodies, academic institutions, and members of the public—are encouraged to submit their feedback. Responses can be sent either via the e-Consultation portal or through email at so-pimca[at]gov[dot]in. The last date for submission is 30th September 2025.
This consultative approach aligns with the government’s larger vision under Azadi Ka Amrit Mahotsav to empower citizens and industry participants in shaping key policy reforms. It also demonstrates the MCA’s dedication to inclusivity and its openness to diverse perspectives that could enhance the practicality and effectiveness of the proposed framework.
Why MDPs Matter
Multidisciplinary Partnership firms can:
- Encourage collaboration between professionals across sectors,
- Foster innovation through cross-functional insights,
- Provide comprehensive solutions to businesses and startups,
- Strengthen India’s domestic professional services to reduce reliance on foreign entities,
- Support job creation and skill development across industries.
With India’s growing economy and increasing demand for complex business solutions, MDPs can bridge critical service gaps while promoting transparency, ethical practices, and accountability in the corporate advisory space.
Way Forward
The establishment of MDPs could be a game-changer for India’s professional services sector. By seeking public consultation, the MCA has opened the door for collective wisdom and democratic decision-making. It is now up to stakeholders to rise to the occasion, contribute constructively, and help shape a progressive regulatory environment that supports innovation and sustainable growth.
This initiative stands as yet another milestone under Azadi Ka Amrit Mahotsav, reaffirming the government’s resolve to build Aatmanirbhar Bharat—a self-reliant India with world-class professional infrastructure.