Accounting regulator pushes for 50 global Indian brands

The country's accounting sector regulator has set a target to build 50 global brands based out of India in three years.

“I think the goal is that in the next three years, we should be able to give 50 brands – Indian brands – to the world at large”, President of the Institute of Chartered Accountants of India (ICAI) Amarjit Chopra said here.

ICAI is striving to promote capacity-building of small and medium practitioners, he said. The regulator is going to put in a lot of information technology initiatives to improve the overall administration.

"We are going to put in a lot of IT initiatives to make sure that rather than brick-mortar, it’s the soft tools which should become important," Chopra said.

"I am sure IT initiatives would improve the overall administration in the Institute to a large extent and probably the face of the Institute may undergo a change".

He said the student curriculum would be made “stable” and “application-oriented”, indicating that frequent changes would be a thing of the past, but added that relevant things would definitely be incorporated.

“We really need to make the examination system application-oriented. What distinguishes us from other professions is our three-year training”, Chopra said.