New Delhi, July 8 (IANS). Union Commerce and Industry Minister Piyush Goyal said after meeting with the leadership of the Institute of Chartered Accountants of India (ICAI) on Wednesday that stronger collaboration with the institute can play an important role in accelerating India’s economic growth and furthering the country’s ambitions in global trade.
The Union Minister said that in the meeting, discussions were held to enhance cooperation between the government and the chartered accountancy profession, so as to promote trade and investment as well as further strengthen India’s competitiveness in the global market.
Piyush Goyal said that the meeting also discussed how the role of chartered accountants can be made more effective in helping businesses take advantage of new opportunities in the changing global economic environment.
He said that Chartered Accountants can make an important contribution in helping businesses adapt to the changing landscape of international trade and investment.
“Had a fruitful meeting with CA Prasanna Kumar D, Chairman, ICAI, in which various aspects of strengthening cooperation to support India’s economic growth and global business ambitions were discussed,” Piyush Goyal said in a post on social media platform X.
The minister said that it was also considered to increase institutional participation in the ecosystem related to the Free Trade Agreement (FTA) between the two sides.
He said greater involvement of professional institutions like ICAI would help businesses better understand and leverage the opportunities offered by India’s growing free trade agreements.
Piyush Goyal said, “We also discussed in detail the changing role of the accounting profession in facilitating trade and investment, enhancing institutional participation in the FTA ecosystem and supporting businesses in taking advantage of new opportunities emerging globally.”
He said the meeting emphasized that strong collaboration between policy-makers and professional bodies is vital to promote trade, investment and economic growth, especially at a time when India is continuously expanding its engagement with global markets.
Even earlier this week, Piyush Goyal had said that India’s new free trade agreements (FTAs) are creating new opportunities in the fields of manufacturing and innovation. He said that this will give the youth of the country an opportunity to compete at the global level. He appealed to the students to develop practical skills and adopt technology-based education, so that they can take full advantage of these new opportunities.
–IANS
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