ICAI(Indian Institute of Chartered Accountants) – This institution has its roots since 1 July 1949 i.e. 71 years ago. The Institute of Chartered Accountants of India is set up by an act of parliament. ICAI is established under the Chartered Accountants Act, 1949. It consists of 41 chapters and recently a new chapter has been released in Dallas, texas. Its sole purpose is to enhance the economic,trade and entrepreneurial relationship between India and the US. ICAI is accountable for setting the standards on auditing (SAs) which are to be followed in audit of financial statements of India.CA Nihar Niranjan Jambusaria is designated as the president of the association following CA Debashis Mitra as its vice president.
Full Video Link: ICAI Launched Its 41st Chapter in Dallas, USA
In the inaugural session of the webinar CA Mahavir Singhvi, Joint Secretary, Ministry of External Affairs, Government of India said, all the chapters in the US are trying to expand its presence across the globe which is quite encouraging for our institute to accomplish its vision of having 100 chapters and representatives across the globe.This inauguration is one step in accomplishing the vision. The institute ,during these difficult times has come forward trying to mitigate the problems of people and helping its members.The chartered accountants of India as well as abroad can play a very important role in the quick recovery of the Indian economy by bringing investments and technology.They can facilitate new merges,bringing new processes and creating positive outlook for India in abroad. The Institute with its chapters can contribute immensely towards the goal of making India a 5 trillion dollar economy.
Sri Aseem R Mahajan. Honourable Consulate General of India in Houston ,USA focused on cultural relationship between India and the US. He said, as two vibrant democracies having open and multicultural societies, commonalities in culture and shared views India and USA are natural partners. Our comprehensive strategies are broad based, growing engagement in areas in energy,defence,security,trade and investment and people to people contacts. The consulate has been working with multiple stakeholders including ministries and agencies in India and other stakeholders who are planning events , exchanges and interactions in configurations and geometries to promote trade and investment in India and the United States. We are closely working with the chamber in areas like startups, information ,communication,technologies.We can exchange ideas on what could be the concrete initiatives and roadmaps in the future. We will offer full support to the institute in our complimentary activities.
CA Rajasekhar Reddy Nalla, Founder Chairman spoke on the vision to create a think tank and promote US and India trade relations,bridge the gap between India US Corporations and be the voice for the CA Fraternity in the United States.
We create a platform for the CA and CS who are seeking opportunities,references or any kind of business avenues. We continue to collaborate with other professional bodies like CPA and other accounting bodies we have here.
“Under a year we have made the USA, a country with the most number of overseas offices under ICAI. CA’s are in unique position to enhance the India-US relations through CA’s coming from North America and through our ICAI network in USA, we have helped the members in various ways : enabled participation of our US based CA leaders in international conference and brought visibility, who continued to reach later position of influence in our various regions of USA.
Our offices continue to work for Indian diplomatic mission to maintain close coordination and cooperation providing support to promote strategic partnership, trade and commerce between the USA and India.
Through the ICAI national office in the USA we hope to centralise the coordination with our parent ICAI New Delhi office and the Indian Embassy in Washington DC”, said CA. Vish Arunachalam (founder, chairman and Director , San Francisco Chapter of ICAI).
Ms. Neel Gonuguntla ( President, US Chamber of Commerce Dallas Fort Worth) highlighted the opportunity for ICAI and requirements to build a great partnership between India and the US. According to his statement, India stands as an important regional partner for the US, the US has committed 100 million dollars in accordance with the pandemic.
Opportunity for ICAI dallas needs to address the needs of individuals and families, the needs of businesses and the needs of nonprofit organisations.
Tradelane requires extraordinary professional insights on both the Indian and the American side to ensure that these types of deals flow smoothly.
Things like attestation documents or administrative paperwork, these important services when provided in a timely and efficient fashion can help to move resources back and forth which can aid in thriving economic partnership.
When we solve problems together we tend to form greater bonds and partnerships because we find value, mission and effects alignment.
CA Guru R Sowle ( Financial Advisor, Edward Jones) said, “We are missing translating the intrinsic value to actual relatable value , probably some gap in positioning it at the apex level and positioning at the globe. That’s the mission of Dellas chapter- to support ICAI US and ICAI India to accomplish that”
CA’s can build the US India bridge in enhancing the corridor, adding economic value in addition to adding value in each one of CA’s at individual level .
Harsha Nalla ended the meeting with her vote of thanks and observation from the discussion, she concludes to take away from this event is the combined energy of positivity and believe in convention that we see is in America, can indeed make a huge difference to the community , socio economic and of course CA community.
In the inaugural session Welcome & Keynote Speech by Geetha ramakrishnan,(Chair of ICAI of San Francisco) ,CA Nihar N Jambusaria (President ICAI) , Shri Aseem R.Mahajan (hon’ble consul general of India in Houston ,USA) , CA . Mahaveer Singhvi (joint secretary, ministry of External Affairs, govt.of India) , C.A(Dr.) Debashis Mitra (Vice President of ICAI) , CA. Vish Arunachalam (founder, chairman and Director , San Francisco Chapter of ICAI) , Ms. Neel Gonuguntla (President, US Chamber of Commerce Dallas Fort Worth), CA Guru R Sowle ( Financial Advisor, Edward Jones) gave their much experienced insight into the discussion.