The Hindu : Andhra Pradesh News : India all set to emerge global leader: ICAI chief

Online edition of India's National Newspaper
Saturday, Dec 11, 2004

Andhra Pradesh

Andhra Pradesh

India all set to emerge global leader: ICAI chief

By Our Staff Reporter

HYDERABAD, DEC. 10. The president of the Institute of Chartered Accountants of India (ICAI), Sunil Goyal, on Friday said "the resilience of the Indian economy has made it capable of absorbing the oil shock."

At the 36th regional conference of the ICAI's Southern India Regional Council (SIRC) here, he said the growth in India's GDP and forex reserves, coupled with its adaptability to change was taking India forward on the economic front. "The gaining rupee and the falling US dollar are indicative of the emerging economic order," he said.

The past decade had seen Asian countries show their might and India and China were gaining in economic and social strengths, he said. China was having an edge with low pricing but it was only a matter of time before India went ahead, he felt.

"The time for dominance is now and India will soon become a global leader," he said.

New challenges for CAs

The SIRC Chairman, J. Venkateswarlu, underscored the need for chartered accountants to update themselves with the latest in work practices and use technology to meet the new challenges thrown up by globalisation and liberation. A vibrant SIRC had achieved a record with an estimated 2,800 delegates at the conference, adding that the annual affairs were a much-awaited opportunity for professionals to upgrade their knowledge by listening to and interacting with senior and more successful practitioners, he said.

Others present included the SIRC's Vice-Chairman, V.C. James, its Secretary, M. Kandasami, treasurer K.S. Madhava Murthy, and the Chairman, Hyderabad Branch, C. Ramachandram.

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