Quick Amid economic growth and increasing emphasis on corporate governance, India will need about one lakh company secretaries by 2030. This has been said by ICSI, the apex body of company secretaries. Currently, there are more than 73,000 company secretaries and about 12,000 of them are employed. Company secretaries play an important role in the corporate governance framework by ensuring compliance with various statutory requirements in companies.
1 lakh company secretaries needed by 2030
Institute of Company Secretaries of India (ICSI) president B Narasimhan said there has been a significant change in the way the country views its economy and company secretaries have become an important link in making India one of the most preferred investment destinations in the world. Talking to PTI recently, he said India will need about one lakh company secretaries by 2030.
The economy will be $ 7,000 billion by 2030
ICSI admits over 2,500 people on an average every year. According to various estimates, India is expected to become a $7 trillion economy by 2030. A finance ministry report released in January this year said, “The Indian economy will grow at a rate of over 7 per cent in the coming years on the back of strong financial sector and recent and future structural reforms. Depending on the inflation trend and exchange rate, India may become a $7 trillion economy in the next six to seven years (by 2030).” The institute has also introduced direct enrollment of undergraduate and postgraduate students in the Company Secretary Executive Programme to attract more young talent to the profession. ICSI has, among other measures, introduced standards to bring uniformity in the secretary-level practices followed by corporate boards of directors.
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