Union Minister of State of Corporate Affairs, Road Transport and Highways Harsh Malhotra said on Friday that chartered accountants (CAs) play a pivotal role in India’s progress by auditing companies, ensuring transparency, and upholding ethical standards.

Speaking during the 4th Global Education Summit in Commerce and Accountancy (GESCA) 2024 here, Malhotra said, “India has established a commendable position in the field of accountancy. Educationists are crucial in advancing India’s economy to third place globally.”

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The Union minister contended that the National Education Policy (NEP) 2020 prioritises holistic student development, with educational institutions nurturing their growth. He stressed the need to promote financial literacy for the progress of the nation.

The Institute of Chartered Accountants of India (ICAI), through its Board of Studies, is hosting the two-day Summit that commenced on Friday. The summit was inaugurated by the Union minister in the presence of Ranjeet Kumar Agarwal, President of ICAI; CA (Dr.) Rajkumar S Adukia, Chairman of the Board of Studies; CA. (Dr.) Raj Chawla, Central Council Member, ICAI; CA Piyush S Chhajed, Central Council Member, ICAI.

Speaking at the event, CA Ranjeet Kumar Agarwal, President of ICAI, highlighted the significance of the summit, saying, “ICAI has entered into MRA/MoUs with 24 countries across the world. We have awarded scholarships to 11047 students, ensuring accessibility and maintaining our position as the most affordable accounting course. We are also empowering the nation and women, with 43.5 per cent of our CAs students being female and 30 per cent of our total membership are women, Chartered Accountants.”