Modi’s Desi Giants Bet: Strategic Capitalism, Not Just Nationalism
Prime Minister Narendra Modi at Red Fort on occasion of Independence Day celebrations! (Image BJP4India)
India wants to go from being a market to a maker. From being a talent pool to a brand powerhouse. Modi’s vision is what the moment demands.
By Sanjay Singh
New Delhi, October 7, 2025 — In a world increasingly defined by geopolitical assertiveness and economic self-reliance, Prime Minister Narendra Modi’s latest push—to create India’s own “desi” global brands and professional giants—might seem like another nationalist drumbeat. But look closer, and it’s something much deeper: a calculated bet on economic sovereignty.
Whether it’s the FMCG sector, the beverages industry, or the once-untouchable world of global audit and advisory firms, the Modi government is sending a clear message: it’s time for Indian companies to play on the global stage not as sidekicks, but as equals—or even rivals.
Big Ambitions: India’s Own ‘Big Four’
The idea of creating India’s own version of the “Big Four” audit firms—those globally entrenched behemoths like PwC, Deloitte, EY, and KPMG—isn’t new. Modi first floated the idea back in 2017. But now, the vision is shifting gears into implementation. A high-level meeting chaired by the Prime Minister’s Office on June 6 this year laid the groundwork for a roadmap. A formal committee led by Corporate Affairs Secretary Deepti Gaur Mukerjee is now tasked with converting this vision into a tangible plan.
Even on international platforms, the message is consistent. Commerce and Industry Minister Piyush Goyal, speaking in Switzerland this June, reaffirmed India’s intent to build domestic audit firms with global scale and credibility. This isn’t protectionism—it’s positioning.
It’s about owning our narrative in the global professional services industry, one where Indian talent is abundant but Indian firms have had little visibility.
Desi Drinks vs. Global Goliaths
The audit space isn’t the only frontier. In the fast-moving consumer goods (FMCG) sector, particularly beverages, Indian companies are now directly challenging the dominance of global giants. And they’re doing it not by mimicking Western formulas but by leaning into Indian identity—regional flavours, traditional recipes, and cultural nostalgia.
Take Campa Cola, relaunched in 2023 by Reliance Consumer Products. Once a nostalgic relic, it’s now being rebranded as a modern, made-in-India answer to Coke and Pepsi. Add to that Parle Agro’s Appy Fizz, Paper Boat’s line of Indian flavors like Aam Panna and Jaljeera, or Amul’s ever-expanding drinks portfolio—what you get is a confident, culturally rooted Indian brandscape with global ambitions.
These companies aren’t just playing defence—they’re on the offensive, offering better pricing, localized appeal, and a sense of ownership that foreign brands simply cannot replicate.
More Than Branding — It’s About Sovereignty
Critics might say this is economic nationalism dressed up as policy. But it’s more nuanced than that. Modi’s push aligns with a broader global trend—nations revisiting how much control they truly have over critical sectors of their economies.
Post-COVID, post-China-dependence, post-geopolitical-fractures, “Make in India” and “Atmanirbhar Bharat” aren’t just slogans anymore. They are strategic responses to vulnerabilities exposed by global supply chains and foreign dependence.
India isn’t shutting the door on global firms—it’s simply insisting on a seat at the head of the table.
Challenges and Celebrations
The road to global dominance is long and fraught with challenges. Building globally trusted Indian audit firms requires decades of credibility, robust regulations, and international client confidence. Beating global FMCG titans means more than offering traditional flavors—it means scaling, innovating, and marketing with world-class sophistication.
But the intent is now unmistakable. India wants to go from being a market to a maker. From being a talent pool to a brand powerhouse. And in that pursuit, Modi’s vision—however ambitious—is exactly what the moment demands.
About the Author: Sanjay Singh is a journalist based in New Delhi covering political economy, government policy, and business strategy.
(This is an opinion piece, and views expressed are those of the author only)
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