In a landmark move towards transforming India’s professional services landscape, the Ministry of Corporate Affairs (MCA) has issued an invitation for public comments on its proposal to establish Indian Multi-Disciplinary Partnership (MDP) firms. This initiative is aimed at enabling the rise of Indian consulting and auditing giants capable of competing with global firms in both domestic and international markets.
As outlined in the Office Memorandum dated 17th September 2025, the government is seeking suggestions from stakeholders to identify regulatory bottlenecks and recommend amendments to laws and rules that currently restrict the growth and competitiveness of Indian firms.
💡 Why This Matters
Globally, the consulting and auditing industry is worth \$240 billion, largely dominated by international networks that offer integrated, end-to-end services. In contrast, Indian firms remain fragmented, with limited global visibility and competitiveness, despite the country’s deep talent pool.
With the vision of Atmanirbhar Bharat and reducing dependency on multinational firms, the MCA’s proposal to enable MDPs is a step toward economic self-reliance, job creation, and knowledge exports.
📌 What Are MDPs?
Multi-Disciplinary Partnerships (MDPs) are firms where professionals from different domains — like Chartered Accountants, Company Secretaries, lawyers, actuaries, and IT experts — come together under a single legal structure to offer integrated, cross-functional services.
Currently, Indian firms operate in silos due to regulatory restrictions, with limited scope for collaboration between professions. International firms, by contrast, operate seamlessly across service lines, industries, and jurisdictions.
⚙️ Challenges Identified
The Background Note published by the MCA highlights several key issues that Indian firms face:
- Ban on advertising and brand-building by Indian professional firms, unlike global players.
- Restrictive MDP regulations that exclude professionals like MBAs, tech experts, and insolvency professionals.
- Fragmented licensing and regulatory frameworks across professional bodies.
- Public procurement barriers, such as high global turnover criteria, which disadvantage Indian firms.
- Lack of global collaboration platforms, restricting knowledge-sharing and global service delivery.
🏛️ Government Initiatives So Far
The MCA and regulators like the Reserve Bank of India and the Institute of Chartered Accountants of India (ICAI) have taken steps to diversify opportunities for Indian audit firms. For example:
- RBI capped the number of audits a single firm can perform, freeing up opportunities for smaller firms.
- ICAI encouraged firm consolidation to increase operational capacity.
Still, as the government notes, these measures need to be complemented by bold structural reforms, particularly in legal and regulatory frameworks.
📢 Public Consultation Open Until September 30
Stakeholders, including firms, professionals, think tanks, startups, and industry bodies, are encouraged to review the Background Note and submit their comments by September 30, 2025 via:
- e-Consultation Module on the MCA website
- Email: so-pimca@gov.in
📝 Questions for Feedback
The MCA seeks input on a range of issues, including:
- Regulatory changes needed to support MDPs.
- Safeguards for dispute resolution among MDP partners.
- Global best practices in MDPs.
- Measures to promote Indian consultancy brands without compromising ethics.
🌏 Vision for the Future
If implemented successfully, the MDP framework can revolutionize India’s professional services ecosystem. By breaking silos and enabling cross-functional collaboration, India can create homegrown firms with global impact — capable of exporting high-value knowledge services, building global brands, and strengthening India’s economic sovereignty.
This is a crucial opportunity for stakeholders to shape the future of the consulting and auditing industry in India. Your voice can help define the path forward.