Vice-President of India, Inaugurated ICAI’s first Global Professional Accountants Convention in Gujarat

27^th November, 2023 : The Institute of Chartered Accountants of India (ICAI), the largest professional Accountancy Body in the world unveils the first convention of Global Accountants – Global Professional Accountants Convention (GloPAC) today at Mahatma Mandir Convention Centre, Gandhinagar, Gujarat.

The 3-days mega convention hosting more than 4500 national and international delegates was inaugurated by Shri Jagdeep Dhankhar, Hon’ble Vice-President of India as the Chief Guest along with CA. Piyush Goyal, Hon’ble Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles as the Guest of Honour and Shri Praful Pansheriya, Hon’ble Minister of State for Parliamentary Affairs, Primary, Secondary and Adult Education, Higher Education, Govt. of Gujarat and Ms. Asmaa Resmouki, President, International Federation of Accountants (IFAC).

1. Aniket Sunil Talati, President, ICAI, CA. Ranjeet Kumar Agarwal, Vice-President, ICAI , CA. (Dr.) Debashis Mitra, Immediate Past President ICAI, CA. (Dr.) Jai Kumar Batra, Secretary ICAI along with Central & Regional Council Members of ICAI welcomed the guests and delegates from across the world.

While addressing the inaugural ceremony, the Chief Guest Shri Jagdeep Dhankhar, Hon’ble Vice-President of India acknowledged ICAI for hosting such a grand convention. He said, “As we collectively shape India’s destiny for 2047.  You are nerve centre, epicentre of big change, your efforts, your farsighted approach, your commitment will make bharat the most developed nation on this planet. While institutions are vital for democratic governance and nurturing of democratic values, ICAI has been playing a stellar role in building, standardising and sustaining the financial framework of the nation.

He further added, “Chartered Accountants are uniquely positioned as important pillars in the economic growth of the nation. CAs in Bharat have the highest ethical quotient and the signature of a chartered accountant is unrivalled brand. You are the soldiers in incremental growth trajectory of the Country.

Guest of Honour CA. Piyush Goyal, Hon’ble Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles said, “With a commitment to accountability and high standards, Chartered Accountants must adapt to the changing world. As the world’s largest accounting body, we have a unique opportunity to shape the future of our profession. Our strength, as highlighted by our Prime Minister, lies in the trust and truth embedded in a CA’s signature. The chartered accountancy profession should transcend traditional roles and become more inclusive, reaching every corner of the country. Our profession can play a significant role in attracting investment and technology globally. Let’s focus on going global, making our companies more visible worldwide, and actively pursuing mergers and collaborations. The aim is to have at least 4 Indian companies making a global impact.”

The groundbreaking event witnessed delegates from International Accounting Organizations, Firms, Regulators, Economists, Academicians, Commerce Groups, Business Leaders, Policymakers, Standard Setters and esteemed global leaders from Accountancy Profession.

On this occasion CA. Aniket Sunil Talati, President, ICAI said “We celebrate 75 years of trust, spotlighting India’s role in the G20 with the African Union. As an accounting body with around 8.50 lakh students and close to 4 lakh members we emphasize our commitment to collaboration, extending globally. With the G20 and economic surge, India has emerged as a global hub. Our mission is to extends to every nook and corner of India, spreading the wings of the accountancy profession.” He further added that, “ICAI vision for 2049 is to make ICAI carbon-neutral when ICAI turns 100 years and I urged members to think global, act noble but also be vocal for local.”

Addressing the inaugural session, CA. Ranjeet Kumar Agarwal, Vice-President, ICAI said, “Chartered accountants are contributing to growth of Indian economy like never before. The theme of the convention “Connecting the Globe, Creating Value” reflects our commitment to diversity and will showcase the pivotal role accountancy profession is playing in the economic and social development of the country. We are hopeful that the first GloPAC will set a tone for generating new ideas, innovations and strategies on the global economic challenges and lead to sustainable economy for the future.”

The convention poised to establish new standards for global collaboration, offering a platform for profound discussions and insights into the evolving dynamics of the accountancy profession which will further strengthen the position of ICAI as a global thought leader.

During the event the new CA India logo was also launched. The New Logo reflects the accountancy profession’s unwavering commitment towards being a partner in nation building. Toe elaborate further each element of the new CA India logo tells a story of our profession’s dedication to excellence, transparency, and accountability.

The inaugural ceremony was followed by the signing of Memorandums of Understanding (MoUs) with Gujarat International Finance Tec-City Company Limited (GIFTCL) and International Financial Services Centres Authority (IFSCA).  During the ceremony present were Ms. Anuradha Thakur, Additional Secretary, Ministry of Corporate Affairs, Government of India, Mr. K Rajaraman, Chairperson, International Financial Services Centres Authority, Shri Tapan Ray, MD and CEO, GIFT Co. Ltd. 

The MoU with Gujarat International Finance Tec-City Company Limited (GIFTCL) aims to create opportunity for members and students by strengthening their skill sets on topic related to International Financial Services Centre (IFSC) business and regulations and to facilitate research in the field of international financial services for GIFT IFSC and set up a Centre of Excellence at GIFT IFSC.

MoU with International Financial Services Centres Authority (IFSCA) aims to enhance collaboration and promote financial excellence by jointly organizing international and domestic events, conferences, seminars and roundtable meetings and harnessing the expertise of both entities to bolster the financial landscape in India and on the global stage.

The inaugural ceremony was followed by a plenary session on “Collaboration & Networking: Building Global Firms & Making India as a Global Accounting Hub” that delved into the intricacies of building global firms and positioning India as a pivotal hub for accounting services on the global stage and two keynote address on India’s Economic Resurgence: Empowering CAs for a Global Role and CAs Shaping the Future of Capital Market.