June 27, 2022
Virtual International Conference 2020

Sustainability an Important Decision-Making factor in govt, Corporate World: Goyal

Virtual International Conference 2020

Virtual International Conference 2020 New Delhi, Dec 17 (PTI) Sustainability has become an important element of decision-making both in the government and the corporate sector of the country, Union Minister Piyush Goyal said on Thursday.

Sustainable development will further enhance the scale and speed of growth in the years to come, the commerce and industry minister said. He was addressing a virtual international conference organized by the Institute of Chartered Accountants of India (ICAI).

Goyal further said Virtual International Conference 2020 the present situation provides a unique opportunity to redesign, reinvent and realign various practices and processes. “While doing so, sustainability is the restrain that must guide our plans, decisions, and actions for the future,” Goyal emphasized.

Under the mission of ”Aatmanirbhar Bharat”, India is progressing rapidly to become a hub of manufacturing and expand its role in the global economy, he said. This is not possible without strengthening the ecosystem of MSMEs, the minister noted. “India is going through a series of radical reforms which is changing our mindset to alleviate our actions, ambition, and aims,” Goyal said.

Echoing the views, Minister of State for Finance Anurag Singh Thakur said, “Prime Minister Narendra Modi”s economic strategy of Aatmanirbhar Bharat is not only aimed at self-reliance but also sustainability across sectors.” In 2014, when the Modi government came to power for the first time, it inherited an economy that was part of the ”Fragile Five” global economies and foreign investors were pulling out funds from India, he said. “However, in the last six years, we have consistently introduced reforms that have brought about significant change and now all indicators from inflation to fiscal deficit, from forex reserves to current account deficit, from GDP growth to financial inclusion, all point to very stable and sustainable economic position,”

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He further noted that a digital highway has been laid for the growth of the banking and financial sector by taking up the task of connecting India”s 6 lakh villages with an optical fiber network. “In the past three years, 1.5 lakh gram panchayats have already been connected and the rest of the 1 lakh gram panchayats will be connected within the next 12 months,” Thakur said India can achieve double-digit growth through a healthy mix of digital services and manufacturing base expansion in the times ahead, he added.

ICAI kicks off Virtual International Conference 2020

The Annual flagship event of the Institute of Chartered Accountants of India (ICAI) i.e.

International Conference 2020 was inaugurated today through virtual mode by the Chief Guest Shri (CA.) Piyush Goyal, Hon’ble Minister of Railways, Commerce & Industry, Consumer Affairs, and Food & Public Distribution in the presence of Guests of Honour Shri Anurag Singh Thakur,

Hon’ble Minister of State for Finance and Corporate Affairs, and Mr. Alan Johnson, President, International Federation of Accountants (IFAC).

Also present were CA. Atul Kumar Gupta, President, CA. Nihar N. Jambusaria, Vice-President, ICAI , CA. Prafulla P. Chhajed, Past President, ICAI along with Central & Regional Council Members of ICAI.

Shri Rakesh Sehgal, Acting Secretary, ICAI welcomed all the distinguished guests said “ Virtual International Conference 2020 truly captures the need for out of the box strategies, innovations & initiatives. With this, the CA profession has supported the economic revival and unlocking newer possibilities in the new normal.

ICAI recognizes that the future of the profession lies in the ability to change, evolve & adapt to changing environments and this 3 day Conference is going to be a great exposition to empathize and learn best practices in tandem with the changing market dynamics.”

The ICAI, recognizing its role and responsibility to the stakeholder community and contributing to promoting the public interest through resilient practices for a vibrant economy, organizes ICAI International Conference every year.

However, in view of the current situation posed by the pandemic, ICAI is organizing its flagship event through virtual mode on the theme “Accountancy Profession: Augmenting Economic Sustainability”.With the pandemic enforcing the new normal, the conference would dwell deeper on variour strategies, innovations, and initiatives, through which the profession can support the economy.

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Virtual International Conference 2020. While congratulating the CA Fraternity at the inauguration ceremony, Shri (CA.) Piyush Goyal, Hon’ble Minister said “While serving the nation for over 70 years, the ICAI has done well through imbibing the qualities of integrity, competence, honesty, and regard for society.

I appreciate the efforts of ICAI in bringing together all the stakeholders to deliberate on strategies, innovations, and the initiatives through which the global accountancy profession can support and ensure revival in a sustainable manner.”

The Hon’ble Minister further added “I am happy to inform that in India sustainability has become an important element of decision making in Government and Corporate world.

Sustainable development will spur growth, will further enhance the scale and speed of growth in the years to come. I am sure the CA fraternity, who are often called gatekeepers as well as advisors of processes, will guide their organizations through this crisis and convert businesses and economic dilemmas into bigger opportunities. ”

The three days Virtual Conference will deliberate on the issues related to Taxation, Data Analytics, Sustainable Growth, MSMEs, Innovation, and alike. This Conference will provide an apt opportunity for delegates to empathize with the challenges and opportunities available while dealing with areas of contemporary and emerging interest in the global economy.

The 3 Day Conference divided into 13 sessions is seeing the participation of more than 5,000 professionals from across the globe with the address of 60 speakers. Shri Anurag Singh Thakur, Hon’ble Minister remarked “The theme of the Conference in current times of pandemic is very interesting.

The role of the CA fraternity is crucial to the success of Corporate India. ICAI has done a commendable job in promoting India’s soft power in the accountancy profession. ”

Hon’ble Minister reiterated “ I have addressed the CA fraternity thrice in last 6 months and really appreciate the constructive role being played by ICAI in the overall development of CA profession.

ICAI has a global presence in 63 cities of the world. All the branches and overseas chapters of the Institute are doing a splendid job by acting as India’s unofficial ambassadors.

In this Conference, I request the partnership of ICAI and the entire CA fraternity to connect, collaborate and communicate in every possible way towards India’s Atmanirbhar Bharat Economic Strategy.”

The ICAI has played a pivotal role in developing a resilient reporting framework for sustained economic growth of the nation in the last seven decades. The accountancy profession has endeavored to bring in the best global practices and standards for a robust financial reporting and assurance framework, inspiriting trust and confidence amongst the stakeholders.

CA. Atul Kumar Gupta, President, ICAI while addressing the Conference said “The theme of the Virtual International Conference is very apt in terms of challenges being posed by the COVID-19 pandemic.

In this era, Communication Technology and technological innovations are moving at a revolutionary pace and totally reoriented, reorganized, and revolutionized the new ecosystem of the businesses and service delivery. Professional Accountants and Chartered Accountancy profession have a major role to play in achieving sustainability in all ongoing activities.”

President, ICAI further added “I firmly believe that with their skills and the experience, the Accountancy Profession has at its disposal, a wide range of solutions to meet the challenges of sustainable development.

At different levels of the organizations, professional Chartered Accountants can act as creators of value, provider of sustainable development values and keeper & reporter as well.”

More ICAI news visit their official site

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