In his latest address to the members of the Institute of Chartered Accountants of India (ICAI), President CA. Charanjot Singh Nanda shared key updates on recent economic reforms, professional developments, and global initiatives undertaken by the Institute. His remarks reflected both the national momentum towards “Viksit Bharat 2047” and ICAI’s growing international stature as a leading accounting body.
India’s Reform Momentum: Building Bharat 2.0
President Nanda began by emphasizing India’s rapid economic transformation, describing the current period as a defining chapter in the nation’s journey toward Bharat 2.0. He highlighted that India is setting new global benchmarks through bold policy reforms aimed at modernizing the financial system, enhancing accountability, and protecting citizens’ interests.
Among the notable developments, Nanda pointed to next-generation GST reforms, which introduce a simplified two-slab structure of 5% and 18%, along with reduced rates on essentials, healthcare, and farm equipment. These measures, he said, would ease household expenses, strengthen MSMEs, and boost purchasing power for the common man.
He also underscored the new Income Tax Act, which streamlines and modernizes the direct tax framework, ensuring clarity and stability while eliminating redundancies. Furthermore, the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 was hailed as a milestone in accelerating corporate and group insolvency resolutions, safeguarding creditor rights, and ensuring quicker outcomes.
“These reforms,” Nanda noted, “are not just about meeting immediate needs but about laying the foundation for a people-centric, future-ready economy. Chartered Accountants stand at the forefront of this transformation, turning visionary policies into tangible results.”
WOFAR 2.0: A Global Confluence of Accounting Leadership
One of the major announcements in his address was the opening of registrations for the World Forum of Accountants (WOFAR) 2.0, scheduled to be held from January 30 to February 1, 2026, at the India Expo Centre and Mart, Greater Noida, Delhi-NCR.
Themed “Nation-Building to Global Collaboration: Strengthening Trust, Enabling Growth,” the event will serve as a platform for exploring emerging trends, shaping the profession’s global trajectory, and reinforcing India’s leadership in the accounting world. Nanda encouraged members to avail themselves of early-bird registration discounts.
Strengthening Global Presence and Professional Mobility
Reflecting ICAI’s vision of “Global CA, Global Opportunities,” Nanda highlighted several initiatives aimed at enhancing India’s international accounting footprint.
- The Certificate Course on Overseas Outsourcing Services (UK) was launched on 8th September 2025, to help Indian professionals tap into opportunities arising under the India–UK Free Trade Agreement.
- The Second GCC Summit, held on 29th–30th August 2025, positioned India as a potential accounting hub for the Gulf region. The event featured 38+ speakers, 11 sessions, and 800 participants, and was inaugurated by Shri Kalyana Raman Raja Raman, Chairperson, IFSCA.
- The ITEC Professional Training Programme (15–26 September 2025) hosted 29 international delegates from 17 countries, under the aegis of the Ministry of External Affairs, to strengthen capacity building and cross-border collaboration.
Nanda also announced the launch of ICAI Global Week 2025 on 29th September, featuring sessions on globally relevant themes such as sustainability, digital transformation, and ethics.
Honouring Young Leaders: ICAI 40 Under 40 Awards
In a move to recognise and inspire young talent, ICAI has introduced the “ICAI 40 Under 40 CA Business Leader Awards.”
The awards will honour Chartered Accountants who have made significant contributions to business, industry, and the profession. The last date for nominations is 30th October 2025, and Nanda urged members to nominate deserving peers for this prestigious recognition.
Work-Life Balance Initiative Earns Record Recognition
Highlighting the importance of well-being, Nanda announced that ICAI’s initiative to promote work-life balance had reached a major milestone with 100 impactful sessions completed. This achievement has earned recognition from both the Asia Book of Records and the India Book of Records.
“This recognition,” he said, “reflects our aspiration to create a culture of harmony where professional excellence goes hand in hand with personal well-being.”
Expanding Global Collaborations
During September 2025, Nanda and ICAI leadership held several high-level meetings across Canada, Sri Lanka, Australia, and Singapore, aimed at deepening international cooperation.
- In Canada, discussions were held with CPA Ontario leadership and the Consulate General of India, Toronto, to explore pathways for professional collaboration and enhance the brand value of Indian CAs abroad.
- In Sri Lanka, Nanda attended the 89th SAFA Board Meeting and addressed the CMA Sri Lanka Silver Jubilee Conference on Artificial Intelligence and its impact on Professional Accountancy Organisations (PAOs).
- In Australia, he met representatives from CPA Australia and participated in the ECTA Unleashed India-Australia Trade Conference to discuss the profession’s role in bilateral trade growth.
- In Singapore, he addressed the 2nd Business Leaders Forum, alongside former Union Minister Suresh Prabhuand James Lee, Global Head of International Banking at Standard Chartered Bank. Discussions covered global trade, AI, FinTech, and ESG.
Strategic Collaborations for Governance and MSME Growth
ICAI also expanded its domestic collaborations through key Memoranda of Understanding (MoUs):
- On 3rd September 2025, ICAI signed an MoU with the Mahatma Gandhi State Institute of Public Administration (Punjab) to train government officials in accounting standards, GST, and IT-based auditing.
- On 17th September 2025, ICAI entered into an MoU with the Department of MSME, Government of Uttar Pradesh, in the presence of Chief Minister Yogi Adityanath and Minister Rakesh Sachan, to strengthen the MSME ecosystem through capacity building.
Chartered Accountant Journal: October 2025 Edition
The October 2025 issue of The Chartered Accountant Journal focuses on the theme “Internal Audit and Ethics – Enabling Trust and Transparency in the Digital Age.”
The edition underscores the critical role of ethics in building trust amid rapid digital transformation and also covers updates on direct and indirect taxes, accounting standards, commercial laws, and sustainability.
Looking Ahead: ICAI’s Vision for a Future-Ready Profession
Concluding his address, President Nanda reaffirmed ICAI’s commitment to guiding the profession through India’s transformative phase. “By choosing this profession,” he said, “we embrace not just the right decisions but a higher standard of ethics.”
Extending warm greetings for the festive season, he wished members and their families a joyful and prosperous Diwali, expressing hope that the festival of lights would illuminate their lives with happiness, growth, and new opportunities.
