MCA Seeks Comments on Indian Multi-Disciplinary Partnership Framework

To strengthen India’s professional services ecosystem, the Ministry of Corporate Affairs (MCA) has constituted Inter-ministerial Group (IMG) and invited public comments on the proposed establishment of Indian Multi-Disciplinary Partnership (MDP) firms. An office memorandum issued in this regard includes a Background Note outlining the key challenges faced by Indian firms and seeking suggestions for amendments to existing laws, rules, and regulations.

The note highlights the following challenges:

• Absence of integrated multidisciplinary models to provide end-to-end support across the business lifecycle.
• Lack of global networks that could scale operations by pooling expertise and resources while maintaining consistency.
• Limited development of strong, trusted brands.
• Inadequate partnership structures to ensure long-term stability and commitment.
• Weak positioning in deep technology alliances and proprietary platforms.
• Insufficient investment in leadership academies.
• Advertising and marketing restrictions on professionals such as chartered accountants, company secretaries, and lawyers.
• Limited collaboration due to restrictions on MDPs that prevent professionals (including chartered accountants, company secretaries, lawyers, and actuaries) from operating under a single firm structure.
• Fragmented licensing regimes across professions, creating silos.
• Procurement processes that disadvantage Indian firms through stringent eligibility conditions, such as requirements of high global turnover, extensive international experience, and global presence.

The note also reviews recent measures taken by the government. In April 2021, the Reserve Bank of India (RBI) issued a circular capping the number of audits that a single firm may undertake—four Scheduled Commercial Banks (SCBs), eight Urban Co-operative Banks (UCBs), and eight Non-Banking Financial Companies (NBFCs). It also mandated joint audits for large banks with assets exceeding ₹15,000 crore. Separately, the Institute of Chartered Accountants of India (ICAI) introduced steps to enable Indian firms to combine and create larger entities with enhanced operational capacity.

With the note, a questionnaire has been shared seeking stakeholder input on proposed changes to the rules and regulations governing various professions in India. The consultation seeks views on regulatory safeguards, dispute resolution mechanisms, global best practices, the positioning of Indian firms in international markets, and brand-building strategies that avoid solicitation.

Comments may be submitted by 30 September 2025 through the eConsultation Module or via email at so-pimca@gov.in.