As of 2023, India’s accounting industry was valued at $15.9 billion, growing at an average of 4.4% annually since 2018. Over the next five years, professional accounting services are expected to grow at 5%+ annually, positioning India as a leading global hub. Today, 90% of Fortune 500 companies including the Big Four have offshore accounting operations in India.
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Key Insights from Probe42:
🔷 Firm Age
60% of firms are less than 10 years old, highlighting a fast-growing and dynamic sector.
🔶 Geographic Hotspots
62% of firms are concentrated in Maharashtra, Delhi, Karnataka, and Gujarat.
🔷 Revenue Distribution
72% of firms earn below ₹1 Cr/year; 16% fall in the ₹1–₹5 Cr bracket.
🔶 Borrowing Behaviour
90% operate with no secured borrowings. Of the rest, 9% borrowed below ₹5 Cr.
🔷 Recent Borrowing Trends (2024-25)
These firms took around 100 loans; 72% of those were under ₹5 Cr.
What does this mean for this Industry:
● India’s accounting sector is expanding rapidly, but is still largely made up of small players.
● Strong startup momentum and regional clustering signal new client acquisition zones.
● Low dependence on secured loans suggests financial prudence, or limited access to credit.
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