Piyush Goyal calls on accounting firms in India to develop global partnerships

Shri Piyush Goyal, Union Minister for Trade and Industry, Consumer Affairs, Food and Public Distribution and Textiles, today called on accountants around the world to be the Brand India ambassadors. He was addressing the rally in San Francisco after launching the Institute of Chartered Accountants of India (ICAI) in 6 regions of the United States.

The Minister congratulated the members of the ICAI office for the good work they have done in advancing the profession.

Conveying his greetings to Azadi Ka Amrit Mahotsav, Shri Goyal said that the next 25 years would be a crucial period for India to increasingly grow and gain prominence in the geopolitical arena. ICAI also has a crucial role to play in this journey from India, he said and added that he looked forward to when ICAI would have a hundred international offices.

Emphasizing that chartered accountants around the world have contributed immensely to economic development, the Minister said that professional chartered accountants are the guardians of integrity. Referring to the signing of a CA as a mark of integrity and honesty, Shri Goyal said that the value of this signature makes the task of CAs even more serious and onerous.

Referring to the 21st World Accountants Congress to be held in Mumbai in November 2022 for the first time in 118 years, Shri Goyal said it was bound to happen when India was on the cusp of the G20 presidency. It is a recognition of the growing importance of India in the community of nations, he added.

Observing that India was an island of stability in a turbulent world, the minister said that India is one of the fastest growing nations today. Highlighting India’s relentless attention to inflation, Shri Goyal said that since 2014 the government had ensured that inflation was the main focus of RBI and since 2014 India had witnessed a average inflation of 4.5%, the lowest we have seen in 8 years. one-year period since independence.

Addressing the uncertain scenario of inflation in the world today, the Minister said that India is one of the most favored investment destinations and preferred partner in the world today. World leaders are striving to expand their engagement and trade with India through bilateral agreements. We have had two successful free trade agreements with Australia and the United Arab Emirates and we are at an advanced stage of negotiations with the UK and it may be concluded by Diwali, he said.

The Minister spoke about India’s game-changing economic reforms such as GST, IBC, decriminalization and reduced compliance to improve ease of doing business, low corporate tax for new businesses coming in India, the abolition of taxes on the distribution of dividends and the national one-stop shop, etc. .]had caused renewed enthusiasm in India to develop trade and economic activity.

Shri Goyal issued four calls to action to ICAI and its members worldwide:

He urged them to introduce their international clients to the tremendous investment opportunities available in India. India has significantly increased its exports. We have a vibrant One District One Product (ODOP) initiative and atmanirbharta is central to our growth philosophy, he said.

The minister urged ICAI members around the world to use Indian-made products as much as possible, especially for gifts. He pointed out that the motto of sabka prieas was applicable to all Indians around the world. Shri Goyal also called on Indian accounting firms to aspire to develop global partnerships and become world-class firms. The legacy of trust, honesty and high standards left by our predecessors must always inspire us to do justice to the trust the world has placed in us, said the Minister.

(With GDP entries)