Jasmine | Jun 2, 2026 |
Vice President C.P. Radhakrishnan to Lead ICAI’s 78th CA Day Celebrations on July 1, 2026
According to the President of the Institute of Chartered Accountants of India (CA. Prasanna Kumar D), India’s growth will be driven by entrepreneurs, MSMEs and ethical professionals. He stresses that India’s transformation into a self-reliant and developed nation is driven by innovation, entrepreneurship and expansion into the global market. With almost 8 crore registered MSMEs providing employment to around 33 crore people, the sector has become a key contributor to industrial growth, exports, job creation and inclusive economic development across the country.
India’s MSME sector accounts for nearly 35% of manufacturing output, 49% of exports and 31% of GDP. These figures are not just numbers but the spirit of millions of Indians. The sector mainly contributes to poverty alleviation, job creation and socio-economic empowerment, especially in rural and semi-urban areas. Their ability to transform local innovation into globally competitive businesses has enhanced India’s economy. MSMEs are well placed to accelerate India’s growth with strong policy support and reforms.
India is building an ecosystem that nurtures entrepreneurship and promotes the growth of MSMEs in line with the vision of Viksit Bharat 2047. MSMEs are expected to play a significant role in achieving developed nation status as the nation inches towards 100 years of independence by empowering the below four key pillars of growth while fostering inclusive economic development and good governance:
The government is currently supporting MSMEs through technology, digital services, financial aid and business-friendly reforms. Programmes like Nivesh Mitra, MSME One Connect and ODOP help businesses get approvals faster, reach more customers and grow more competitively. He added that Chartered Accountants play an important role in helping MSMEs grow by providing guidance on finance, compliance, governance and digital transformation. Their support is making businesses stronger, more sustainable and globally competitive.
ICAI is actively supporting MSMEs and Startups through initiatives, mentorship and professional guidance. Entrepreneurs are supported by its MSME & Startup Committee and the ICAI MSME Clinic in areas such as finance, taxation, compliance, digital transformation and business growth.
ICAI is supporting MSMEs and Startups by way of mentorship programs, training sessions, workshops and facilitation centers. These initiatives offer practical guidance on finance, taxation, compliance and business growth. Through the MSME & Start-up Yatra, ICAI reached entrepreneurs across India and mentored 19,355 MSMEs in a day, earning recognition from world record organisations.
The chartered accountants are helping the MSMEs in financial planning, risk management, taxation, business restructuring and access to credit as MSMEs are facing challenges like funding, compliance and market uncertainty. In this way, CAs are helping the businesses to grow stronger, sustainable and globally competitive. The ongoing initiatives of ICAI are further supporting entrepreneurship, inclusive growth and the vision of Viksit Bharat.
Following are some of the development and initiative that has happened this month:
ICAI, along with the Indian Institute of Public Administration, organised a conference on the 16th Finance Commission and local public finance on 21 May 2026. The event brought together policymakers and experts to discuss local governance, fiscal autonomy, digital transformation, transparency, and sustainable funding for urban and rural development.
The MSME & Start-up Committee of the Institute of Chartered Accountants of India organised the MSME Manthan Meet 2026 in Shimla, bringing together over 55 MSME development and facilitation officers and key industry stakeholders. The event focused on collaboration, capacity building, and strengthening India’s MSME ecosystem, with support from Union MSME Minister Jitan Ram Manjhi.
ICAI signed an MoU with the Nagpur Metropolitan Region Development Authority on 21 May 2026 to provide advisory support for the Integrated Digital Platform and Single Window Clearance System under the Naveen Nagpur Project.
ICAI organised a capacity-building programme in Naharlagun with the National Bank for Agriculture and Rural Development and other stakeholders to train officials from cooperative societies and banks. The programme focused on accounting, auditing, taxation, financial reporting, and governance to strengthen the cooperative sector and support rural development.
ICAI have released draft standards on sustainability assurance for public feedback. These standards are aligned with global frameworks and aim to strengthen sustainability reporting and assurance practices in India. Members can submit their suggestions until 19 June 2026.
ICAI will host the World Forum of Accountants (WOFA) 2026 in Visakhapatnam from 16-18 December 2026. The event will bring together global leaders, policymakers, regulators, academicians, and finance professionals to discuss technology, trust, transformation, sustainability, governance, and the future of the accountancy profession.
The President of ICAI has said, “I am pleased to inform you that the Hon’ble Vice-President of India, Shri C.P. Radhakrishnan, has graciously consented to be the Chief Guest for the forthcoming 78th Foundation Day of ICAI, i.e., CA Day, on 1st July, 2026. The celebrations will be held at Vigyan Bhawan, New Delhi, to commemorate this proud occasion in the illustrious journey of the profession.”
As the accountancy profession becomes increasingly global, ICAI continues to collaborate with international accounting bodies and forums to create opportunities for Indian professionals and enhance the global recognition of the CA India brand.
He also said, “I, along with CA. Satish Kumar Gupta, Central Council Member, ICAI, participated in the 142nd ASEAN Federation of Accountants (AFA) Council Meeting on 8th May, 2026, in Singapore, and active dialogue and engagement reinforced ICAI’s position as a key global partner in the region.”
ICAI held discussions with the Institute of Singapore Chartered Accountants to explore qualification reciprocity and create new opportunities for Indian chartered accountants. ICAI also engaged with Shilpak Ambule to discuss strengthening the CA India brand and expanding professional opportunities in Singapore.
ICAI participated in Accountex London 2026 and organised the ICAI-ICAEW Global Summit to strengthen India-UK professional collaboration. Discussions focused on professional mobility, mutual recognition, cross-border services, and opportunities under the India-UK FTA, highlighting India’s growing presence in the global accounting profession.
ICAI signed an MoU with the Institute of Certified Public Accountants of Cyprus to strengthen professional cooperation between India and Cyprus. The agreement focuses on education, knowledge sharing, research, capacity building, and the exchange of best practices to benefit members of both institutions.
ICAI organised the Digital Transformation Finance Summit (DxFS) 2026 in Hyderabad, bringing together over 1,200 professionals, regulators, industry leaders, and technology experts. The summit discussed important issues such as artificial intelligence, cybersecurity, data protection, forensic accounting, digital trust and technology-led assurance.
He said the ICAI Convocation 2026 was a proud moment for ICAI as thousands of young professionals joined the chartered accountancy profession. He urged the newly qualified CAs to uphold integrity, excellence and ethical values while contributing to nation-building and conveyed his heartfelt congratulations and best wishes for their future.
Finally, he said, “All dreams are within reach, all you have to do is keep moving towards them.”
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