Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today asked Chartered Accountants all over the world to be ambassadors of Brand India. He was addressing the gathering in San Francisco after launching the Institute of Chartered Accountants of India (ICAI) in 6 regions in the United States.
The Minister congratulated the office bearers of ICAI for the good work they have been doing in furthering the profession.
Conveying his greetings on Azadi Ka Amrit Mahotsav, Shri Goyal said that the next 25 years would be a very crucial time for India to grow from strength to strength and occupy an important place in the geopolitical arena. ICAI also has a crucial role to play in this journey of India, he said and added that he was looking forward to a time when ICAI would have a hundred international offices.
Underscoring that Chartered Accountants all over the world have been contributing immensely to economic development, the Minister said that Chartered Accountant Professionals were custodians of integrity. Referring to the signature of a CA was a mark of integrity and honesty, Shri Goyal said that the value of this signature made the task of CAs even more serious and onerous.
Referring to the 21st World Congress of Accountants which is to be held in Mumbai in November 2022 for the first time in 118 years, Shri Goyal said that it was set to happen when India was at the cusp of the G20 presidency. It is a recognition of the growing relevance India has in the comity 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. Stressing upon India’s relentless focus on inflation, Shri Goyal said that since 2014, the government had ensured that inflation was the primary focus of RBI and since 2014, India had seen inflation at an average of 4.5%, the lowest we have seen in any 8-year period since independence.
Touching upon the uncertain inflation scenario in the world today, the Minister said that India was one of the most favoured investment destinations and a preferred partner to the world today. World leaders are making every effort to expand their engagement and trade with India through bilateral agreements. We have had two successful FTAs with Australia and UAE and we are at an advanced stage of negotiations with the UK and it will possibly be concluded by Diwali, he said.
The Minister spoke of the game-changing economic reforms in India such as GST, IBC, decriminalisation, and compliance reduction to improve ease of doing business, low Corporate Tax of new businesses coming to India, removal of Dividend Distribution Taxes and National Single Window etc. had brought about renewed enthusiasm in India to expand business and economic activity.
Shri Goyal gave four calls to action to ICAI and its members world-wide:
- He urged them to present tremendous investment opportunities available in India to their international clients.
- He asked each of the members of ICAI to be ambassadors of brand India and help spread the message of high quality products at competitive prices that India has to offer. India has expanded exports greatly. We have a vibrant One District One Product (ODOP) initiative and atmanirbharta is at the core of our growth philosophy, he said.
- Minister asked the members of ICAI all over the world to use made-in-India products whenever possible, especially for gifting. He stressed that the motto of sabka prayas was applicable to every Indian in the world.
- Shri Goyal also called upon Chartered Accountancy firms of India to aspire to develop global partnerships and become international level firms. The legacy of trust, honesty and high standards left behind by our predecessors must always inspire us to do justice to the trust reposed on us by the world, the Minister said.