ICAI chief affirms India’s economy remains resilient despite US tariff moves

Chandigarh: The President of the Institute of Chartered Accountants of India (ICAI), CA Charanjot Singh Nanda, has said that the US tariffs on Indian goods will not hinder India’s growth. Speaking at the two-day national seminar “Jagriti”, he expressed confidence that India will emerge stronger from the current situation.

The seminar, organised by the Professional Development Committee of ICAI, brought together nearly 800 Chartered Accountants (CAs) from across the country. CA Nanda, attending the event as the chief guest, highlighted the crucial role that Chartered Accountants play as partners in nation-building.

“The recent doubling of US tariffs on Indian products is a challenge, but India is resilient and will continue to grow,” CA Nanda said. He emphasised that India’s economy is strong enough to handle external pressures and that the country has the potential to turn such situations into opportunities for further development.

CA Nanda also spoke about emerging technologies, especially Artificial Intelligence (AI). He said AI is not a competitor but a helpful tool that can simplify and improve daily work for professionals. By leveraging AI, Chartered Accountants can perform tasks more efficiently, reduce errors, and focus on more strategic work.

Chartered Accountants play key role in nation-building

The ICAI president further highlighted the organisation’s scholarship initiatives for students pursuing the Chartered Accountancy course. He announced that the scholarship fund has been significantly increased from ₹100 crore to ₹500 crore. This move aims to support more students and encourage talent in the profession. “Investing in education ensures that the next generation of Chartered Accountants is well-prepared to contribute to the nation’s growth,” CA Nanda said.

Several technical sessions were organised during the seminar, where experts discussed various professional and technical topics. These sessions allowed participants to share experiences, ask questions, and gain insights on new trends in accounting, finance, and taxation. CA Anurag Pandey, president of the ICAI Lucknow Chapter, praised the Managing Committee for the smooth organisation of the event and its successful execution.

The seminar also emphasised the importance of Chartered Accountants in economic development. CA Nanda pointed out that CAs not only manage financial records but also help businesses, governments, and individuals make informed decisions that drive economic growth. Their expertise is critical in tax planning, audits, compliance, and advising on investment strategies.

The discussion on the impact of US tariffs drew attention to the global economic environment. While some sectors may experience challenges, CA Nanda stressed that the overall progress of India’s economy is unlikely to be affected. India’s strong domestic market, diversified industries, and growing exports will help the country withstand external shocks.

He urged Chartered Accountants to remain proactive, use their knowledge to guide businesses through challenges, and help strengthen the nation’s economic foundations. “Our role as professionals is not limited to accounting; we are partners in building a strong, sustainable economy,” he said.

The seminar also focused on the ethical responsibilities of Chartered Accountants. Participants were reminded that integrity, transparency, and accountability are the pillars of their profession. These values are essential not only for individual success but also for the confidence of clients, investors, and the public in the financial system.

CA Nanda concluded by highlighting the ICAI’s commitment to professional development. Through workshops, seminars, and continuous education programs, ICAI aims to equip CAs with the latest knowledge, technical skills, and practical insights. This ensures that they remain up to date with global practices and can effectively serve clients in a changing economic landscape.

The seminar also provided a platform for networking, knowledge sharing, and collaboration among participants. Many young Chartered Accountants appreciated the opportunity to interact with senior professionals, gain practical insights, and discuss emerging challenges in the field.

ALSO READ: SCO Summit: Xi, Putin and Modi set to meet as Russia-India-China troika eyes shift in global order

ALSO READ: How technostress is affecting Gen Z’s mental health

In addition to the technical and professional discussions, the seminar included sessions on leadership, innovation, and digital transformation in accounting. CA Nanda encouraged members to embrace technology, explore new solutions, and contribute to the growth of their organisations while upholding ethical standards.

Through initiatives like the expanded scholarship fund, focus on AI, and continuous professional development, ICAI aims to strengthen the accounting profession in India. CA Nanda’s address reaffirmed the organisation’s mission to support students, professionals, and the broader economy while ensuring that India remains resilient in the face of international challenges such as trade tariffs.

In summary, the ICAI national seminar “Jagriti” highlighted the resilience of India’s economy, the critical role of Chartered Accountants, and the importance of professional excellence. CA Nanda assured participants that India will overcome external challenges, including US tariffs, and continue its growth trajectory. The event reinforced the values of integrity, knowledge, and innovation as key drivers for India’s development and the professional success of Chartered Accountants.