Jain, who succeeds Naval Bajaj, was elected at the ICCC's annual general meeting held in Toronto on July 17.
He will be the 26th president of the ICCC, an organisation dedicated to promote bilateral social, cultural and economic ties between the two countries.
Jain, a finance professional with over 25 years of experience, has been serving on the ICCC board for the past three years, handling finance and affinity programmes.
"The Chamber is a great business and commerce institution with deep roots in the Indian diaspora," Jain said.
Jain said he will steer the body successfully to fulfill its twin mandates of fostering Canada-India trade relations and creating opportunities for Canadians of Indian-origin.
At the meeting, Jagdish Bajaj, Sanjay Makkar, and Ginni Sethi were elected directors for a two-year term.
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