The 26th Council of the Institute of Chartered Accountants of India (ICAI) has chosen its new leaders for the 2026–27 term. CA. Prasanna Kumar D has taken on the role of President, and CA. Mangesh Pandurang Kinare is now the Vice-President, starting from February 12, 2026.
President Prasanna Kumar D has a vision for a forward-thinking accounting profession that aligns with India’s goal of becoming a developed nation by 2047. He aims to enhance the skills of Chartered Accountants by embracing new technologies and promoting innovation and professionalism. He highlights the importance of this profession in supporting key areas of national development, which include youth empowerment, assistance for the poor, support for women, and aid for farmers. His focus is on fostering inclusive economic growth, ensuring transparency, and encouraging good governance.
“India’s growth story will be written not only in boardrooms and balance sheets, but in the aspirations of its entrepreneurs, the resilience of its MSMEs and the integrity of its professionals”.
ICAI President’s Message for June 2026
The Institute of Chartered Accountants of India (ICAI) has announced a series of significant initiatives focused on Micro, Small and Medium Enterprises (MSMEs), sustainability, digital transformation, and global professional collaboration. In his June 2026 message, ICAI President CA Prasanna Kumar D emphasized the critical role of entrepreneurs, MSMEs, and professionals in shaping India’s journey toward becoming a developed nation by 2047.
According to the ICAI President, India’s economic transformation is being powered by its growing entrepreneurial ecosystem. With nearly 80 million registered MSMEs across the country, the sector has emerged as a major contributor to employment generation, industrial growth, exports, and regional development. MSMEs currently provide employment to around 330 million people, making them the second-largest source of employment after agriculture.
MSMEs Contribute Significantly to India’s Economy
The MSME sector contributes nearly 35% of India’s manufacturing output, 49% of exports, and 31% of the country’s Gross Domestic Product (GDP). Beyond these numbers, the sector plays a vital role in poverty reduction, socio-economic empowerment, and inclusive development, particularly in rural and semi-urban regions.
CA Prasanna Kumar D noted that government initiatives and policy reforms have created a favourable environment for entrepreneurs to thrive. Programs such as Nivesh Mitra, MSME One Connect, and the One District One Product (ODOP) initiative are helping businesses access markets, streamline approvals, and improve competitiveness.
Read Also: ICAI Unveils Latest Edition of the Income-tax Act, 2025
ICAI Strengthens Support for MSMEs and Startups
Recognizing the importance of MSMEs in India’s economic future, ICAI has intensified its efforts to support entrepreneurs and startups through mentorship, training, and advisory services.
The Institute’s dedicated MSME and Startup Committee has launched several initiatives, including the ICAI MSME Clinic, MSME Mentorship Programme, MSME Pathshala Series, GST & MSME Facilitation Centres, and specialized workshops for MSME consultants. These programs aim to provide guidance on finance, taxation, compliance, digital transformation, and business sustainability.
One of ICAI’s most notable achievements has been its nationwide MSME & Startup Yatra, which offered mentorship and awareness support to thousands of entrepreneurs. The Institute also earned recognition from the World Book of Records (UK) and the Asia Book of Records for mentoring 19,355 MSMEs in a single day on International MSME Day.
MSME Manthan Meet 2026 Focuses on Capacity Building
As part of its commitment to strengthening the MSME ecosystem, ICAI organised the “MSME Manthan Meet 2026” in Shimla, Himachal Pradesh. The residential event brought together more than 55 Development and Facilitation Officers (DFOs) from the Ministry of MSME, along with representatives from key organizations such as the Khadi and Village Industries Commission, National Small Industries Corporation, and Laghu Udyog Bharati.
The event served as a platform for discussing strategies to enhance MSME competitiveness, financial literacy, and business growth. Union MSME Minister Jitan Ram Manjhi addressed participants virtually and praised ICAI’s contribution to strengthening India’s MSME sector.
ICAI Advances Sustainability Assurance Framework
In response to the growing global emphasis on sustainability reporting, ICAI’s Sustainability Reporting Standards Board (SRSB) has released Exposure Drafts on the Standard on Sustainability Assurance (SSA-5000) and the Framework for Sustainability Assurance Engagements.
The proposed standards are aligned with the International Auditing and Assurance Standards Board’s ISSA 5000 and are open for public comments until June 19, 2026. ICAI believes these initiatives will help strengthen India’s sustainability assurance ecosystem and equip professionals with globally recognized frameworks.
Digital Transformation Finance Summit 2026 Highlights Emerging Technologies
ICAI also reinforced its focus on technology through the Digital Transformation Finance Summit (DxFS) 2026 held in Hyderabad. The two-day event attracted over 1,200 participants, including regulators, industry leaders, technology experts, and academicians.
Key discussions centred on Artificial Intelligence (AI), cybersecurity, digital personal data protection, forensic accounting, information systems audit, digital trust, and technology-driven assurance. The summit highlighted the growing role of Chartered Accountants in navigating the challenges and opportunities of a rapidly evolving digital economy.
Expanding Global Opportunities for Indian Chartered Accountants
ICAI continues to strengthen international collaborations to enhance the global recognition of the “CA India” brand. During May 2026, ICAI participated in the ASEAN Federation of Accountants (AFA) Council Meeting in Singapore and initiated discussions with the Institute of Singapore Chartered Accountants (ISCA) regarding qualification reciprocity.
The Institute also signed a Memorandum of Understanding (MoU) with the Institute of Certified Public Accountants of Cyprus (ICPAC), aimed at promoting cooperation in professional education, research, technical knowledge sharing, and capacity building.
Additionally, ICAI showcased India’s professional capabilities at Accountex London 2026 and co-hosted the ICAI-ICAEW Global Summit, focusing on cross-border professional mobility and opportunities arising from the India-UK Free Trade Agreement.
WOFA 2026 and CA Day Celebrations Announced
Looking ahead, ICAI announced the World Forum of Accountants (WOFA) 2026, scheduled to take place in Visakhapatnam from December 16 to 18, 2026. The event will be organized under the theme “Redefining Excellence: Technology | Trust | Transformation” and is expected to bring together global leaders, policymakers, regulators, and accounting professionals.
The Institute also confirmed that India’s Vice-President, Shri C.P. Radhakrishnan, will be the Chief Guest at the 78th Foundation Day (CA Day) celebrations on July 1, 2026, in New Delhi.
Conclusion
In his concluding remarks, ICAI President CA Prasanna Kumar D reaffirmed the profession’s commitment to supporting India’s vision of becoming a developed nation by 2047. He emphasized that MSMEs, supported by robust governance, sustainability practices, and digital transformation, will remain central to the country’s economic progress.
Through its latest initiatives, ICAI is positioning Chartered Accountants as key enablers of entrepreneurship, innovation, and sustainable growth, while strengthening India’s competitiveness in the global economy.
Read the official announcement: President, CA. Prasanna Kumar D Message – June 2026. https://www.icai.org/post/president-message
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