Institute of Chartered Accountants of India (ICAI) President Charanjot Singh Nanda | Photocredit: PTI
The Institute of Chartered Accountants or India (ICAI) will launch a specialized training program next month to equip its members to offer professional services and to register in the UK, which uses the New India-UK free trade agreement (FTA).
Icai President Charanjot Singh Nanda announced on Wednesday that the first party of around 200 professionals will start formal training next month, building on the first launch of the program last month. This initiative reflects a successful program for the US, which has already trained more than 1,000 professionals.
“Our plan is to have a program for five countries – the US, the VK, Australia, New Zealand and Canada. Although the US is ready, they are probably covered within a year,” he said.
Nanda had previously said that the Icai played a crucial role in securing favorable provisions for Indian professionals in the free trade agreement between India-UK. By actively working on the Ministry of Trade and Industry, ICAI took care of liberal market access and the recording of a reciprocity clause that protected the use of the title “Chartered Accountant”.
The institute provided technical input on licenses, qualification calculation and digitally supplied services through its council, which leads to the formal recording of cross -border offer (mode 1). This opens considerable outsourcing options in areas such as accounting, tax and advice. ICAI also defended mutual recognition of qualifications, so that Indian Cas could register and practice in reciprocity in the UK.
In addition, ICAI facilitated provisions for commercial presence (mode 3), so that Indian companies can be included in the UK and operate with national treatment and without discriminatory restrictions while the principle of reciprocity is restored.
In view of the cost benefit of India, skilled workforce and trusted reputation, this is expected to considerably expand the volume of high-quality professional services that flows in India, which improves thousands of CA companies and professionals. These efforts collectively stimulate the global footprint of India, while the integrity of the regulations and professional standards are retained at home, Nanda added.
Pact with NSE IFSC
In the meantime, ICAI has inked the first pacts with NSE IFSC LTD (NSE IX) and the Indian Venture and Alternate Capital Association (IVCA) as part of promoting investor education and professional development. The memorandum of understanding with NSE IX is aimed at promoting cooperation and promoting investor awareness, international investments, as well as professional development on the country’s capital market.
Under the partnership, the two entities will also have buildings of the branding in emerging areas such as global investing, derivative instruments and financial innovation. The MOU with IVCA will mainly be for the establishment of joint expert groups on alternative capital issues, as well as working on standardization of financial reporting frames with consultations led by industry, according to a release.
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Published on July 30, 2025
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