The newly elected President of the Institute of Chartered Accountants of India (ICAI), CA Charanjot Singh Nanda, along with Vice President, CA Prasanna Kumar D, communicated his vision at a press conference in New Delhi. From February 12, 2025, the newly elected 26th Council will come into force. President CA. Charanjot Singh Nanda’s major focus was on merging technology with human well-being. ICAI President CA. Charanjot Singh Nanda Unveils Vision for 2025-26: Advancing Technology & Promoting Work-Life Balance
He outlines the integration of top-class technology like Artificial Intelligence for efficiency, precision, and progress. During the time he specifies, the importance of work-life balance is ensuring that professionals will succeed in their careers and lead fulfilling personal lives.
MSMEs and Startups: The Backbone of India’s Economic Growth
The economy of India is in a transformative mode. The country started as a small enterprise in rural towns and Tier-II cities, and then it evolved into a nationwide movement of innovation, ambition, and entrepreneurship. The fast rising of Micro, Small, and Medium Enterprises (MSME) sector and a vibrant startup ecosystem are the backbone of this economic progress of India.
The heart of this transformation of India is because of its entrepreneurial spirit. There are nearly 6 crore MSMEs that are doing their operation in the country, this sector provides employment second after agriculture and contributes to the GDP. MSME exports between 2020-21 and 2024-25 have risen from ₹3.95 lakh crore to ₹12.39 lakh crore, which is approximately 46% of the total exports of the country. The same rise shows both resilience and adaptability, presenting the contribution of MSMEs to the Gross Value Added (GVA) from 27.3% in 2020-21 to 30.1% in 2022-23.
Also, a remarkable rise has been seen in the Indian Startups. India, with more than 157,000 DPIIT-recognised startups and nearly 110 unicorns, has emerged as the world’s 3rd largest startup hub, after the United States and China. What makes this growth special is that it includes everyone—businesses run by women and located in rural areas are doing well and finding success. Smaller cities are becoming important hubs for new ideas and progress. They combine local knowledge with global goals, creating a blend of local and international development.
As per IMF projections, India attained the 5th largest economy to the fourth overtaking Japan in 2025; these sectors have played a crucial role in making India a self-reliant and progressive economy.
Chartered Accountants: Silent Architects of Economic Growth
Chartered Accountants (CAs), who are said to be the financial experts, have always played a significant role in navigating the financial landscape of any economy. They are experts in tax audits, financial strategists, compliance officers, advisors, and ecosystem connectors.
A record GST collection has been seen in April 2025, and the same cannot be achieved if Chartered Accountants do not guide the diligence and compliance. CAs transform ideas into growth engines by guiding entrepreneurs about regulatory complexities, aligning with government schemes, accessing funding, and building sustainable financial practices.
ICAI: Enabling Change from the Ground Up
The Institute of Chartered Accountants of India (ICAI), which has 4.8 lakh members and more than a million students, is working in compliance with the vision of the government of encouraging entrepreneurship. ICAI, via initiatives like the MSME Yatra, Startup Sphere, Startup Manthan, and Startup Samvad, is spreading awareness, skills development, and in-depth innovation.
ICAIs MSME Yatra has been acknowledged by the Asia & India Book of Records for reaching more than 100 cities in 100 days. Also, ICAI has made 10 Startup Incubation Centres and partnered with premier institutions like IIM Lucknow and Gujarat’s i-Hub to deliver startup mentorship and growth pathways.
ICAI is further looking to launch MSME Clinics every Friday at its branches in India. Business strategy support, financial mentoring, and dispute resolution services are planned to be proposed by these clinics. Grievance redressal and access to the ICAIs’ support network shall be facilitated by the MSME portal.
Events Marking India’s Startup Surge
ICAI, to celebrate International MSME Day on June 27, 2025, is organizing ‘MSME Mahotsav’ across the nation. Business leaders, policymakers, and finance professionals will be assembled by a special MSME and Startup Conclave in Mumbai (June 26-27). ICAI furnishes free consultancy and assistance to at least 1 lakh MSMEs in the same year via its national network.
On May 3, 2025, Accounting Standards Day was celebrated all over 5 ICAI regions, specifying the significance of ethical, transparent, and globally trusted financial reporting. The event has been inaugurated by Delhi’s Chief Minister, Smt. Rekha Gupta praised Chartered accountants as pillars of the economic integrity of the nation.
Expanding India’s Global Footprint: The India-UK FTA
India has recorded a historic milestone with its recent Free Trade Agreement (FTA) with the United Kingdom. On 99% of Indian exports to the UK, the tariffs are removed under the agreement, enhancing access to the UK’s professional services market. India’s global competitiveness has surged with a 3-year exemption from UK social security contributions for Indian professionals.
ICAI is ready to play a crucial role in allowing professionals and businesses to take advantage of these opportunities, supporting India-UK economic ties via capacity building and advisory support.
Digital, Global, and Green: ICAI’s Multi-Faceted Evolution
ICAI’s Disciplinary Directorate has founded a revamped portal—disc.icai.org—with integrated updates, meeting schedules, and case results for strengthening the regulation. AI training has been provided to the officers to update operations.
The representatives of ICAI on the global front have taken part in the international forums in Oxford, New York, Muscat, and Singapore. Sustainable finance to standard-setting for less complex entities, digital reporting, and global professional development are some of the topics. The collaboration of ICAI is with the Oman’s Ministry of Labour and CBFS to improve the financial education and explore the mutual recognition of CA qualifications.
Artificial Intelligence and the Future of the Profession
The aim of the ICAI is towards the future-oriented skills that comprise the AICA Level 1 certifications, that has been completed by more than 20,000 Chartered accountants. The professionals shall be navigated by the forthcoming AICA Level 2 course in integrating AI tools into client businesses, enhancing efficiency and service quality. To expand such offerings all across the world, ICAI is creating plans through its international chapters.
Expanding Reach and National Presence
New ICAI branches in Nizamabad and Khammam, Telangana, have expanded its national footprint to 179 branches, ensuring wider access to professional education and mentoring. ICAI Bhawan inauguration in Gurugram marks the dedication of ICAI to infrastructure development for students and professionals alike.
ICAI’s Social Commitment: ‘Each One, Teach One’
ICAI, considering the educational power, has launched the ‘Each One, Teach One’ initiative. The same mentorship program encourages every CA to guide at least one student, focusing on academics and on building character and confidence. The same initiative is made to encourage communities and form a multiplier effect of empowerment.
Standing with the Nation
ICAI reaffirmed its assistance for the Indian Armed Forces, saluting their bravery and commitment during Operation SINDOOR. The CA community always stands in every national crisis, not only financially, but also through their expertise and commitment to develop the nation.
Conclusion: Developing a Brighter, Inclusive, and Future-Ready India
The efforts of MSMEs, startups, Chartered Accountants, and visionary policymakers are contributing to India’s economy, which is the world’s fastest-growing major economy. The role of ICAI as advisor, educator, and enabler is central to this transformation. Combined by the objective and guided by innovation, India is moving towards prosperity and is proceeding to become a global leader in terms of sustainable and equitable growth.
Read the official announcement: President’s Message – May 2025. https://icai.org/post/president-message
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