The Institute of Chartered Accountants of India (ICAI) established a specialized research center at the Centre of Excellence (CoE) in Hyderabad. This advanced facility is dedicated to actively contributing towards nation-building through in-depth research in critical areas such as taxation, regional and rural economic development, foreign direct investment (FDI), economic growth, income and savings trends, foreign policy, government policies, GST, employment, and environmental sustainability, among others.

To advance its research initiatives, ICAI appointed Dr. Nupur Pavan Bang as the CoE Director-cum-Dean of its Centre of Excellence in Hyderabad. A distinguished academic and researcher, Dr. Bang brings a wealth of expertise in family business, finance, and data analytics. Formerly the Academic Director at ISB's Thomas Schmidheiny Centre for Family Enterprise, she has also imparted her knowledge through teaching roles at prestigious institutions such as Ashoka University and IIM Ranchi. Dr. Bang has also been recognized among the Top 100 Women in Finance in India (2020). She holds a Post-Doctorate from ISB and a PhD in Finance. With this illustrious background, she is entrusted with driving innovative research and positioning ICAI as a leading global think tank.

The research centre will conduct in-depth studies on critical topics such as the Union and State Budgets, certification practices by chartered accountants, financial literacy and inclusion, the role of chartered accountants in policymaking, and the intersection of good governance with ease of doing business. Insights from these research initiatives will be shared with the Government, reinforcing ICAI’s commitment to being a trusted partner in national progress and development.

Speaking on the occasion, CA. Ranjeet Kumar Agarwal, President of ICAI, remarked, “Nurturing talent with a strong foundation of knowledge and contemporary skill sets is a key focus of the Institute. ICAI aims to advance the accounting profession's knowledge base with an interdisciplinary approach to address emerging challenges. Through state-of-the-art research, development, and innovation facilities, ICAI aims to produce impactful research that will help in policymaking, strategic decision making, cultivating professional excellence, creating rewarding opportunities for students and professionals globally and supporting the upskilling and reskilling of ICAI members, students, employees, government officials and other stakeholders.”

At present ICAI has 2 Centre of Excellence (CoE’s) at Hyderabad and Jaipur with plans to inaugurate the third Centre of Excellence in Kolkata in January 2025. Further, ICAI plans to open 8 more CoEs across the country in the next 3 years fostering Research, Innovation and Skill-building. Further, the Council has also approved the policy document on the Centre of Excellence (CoE), that aims to foster research, innovation and learning within the accounting profession and position ICAI globally as a thought leader. This policy document outlines the vision, mission, goals, objectives, governing structure, action plan and monitoring benchmark for ICAI - Centre of Excellence. It also encapsulates efforts to facilitate research, teaching and learning, training, dialogue with stakeholders, and other strategic planning to cultivate talent, conduct advanced research, and disseminate knowledge.

This year, ICAI established a Centre of Excellence (CoE) Directorate to emphasize research, continuous learning, and professional development. Acknowledging the profound challenges confronting the accounting profession-arising from globalization, evolving business models, rapid technological advancements and changing societal expectations—ICAI has launched these Centres of Excellence to lead the way in driving innovation and staying ahead of transformative changes in the field.

Dr. P.C. Jain, Convenor Centre of Excellence Directorate and a Government Nominee, along with its member and Secretary, ICAI, underscored the importance of this leadership role in fostering synergy between academic rigor and industry relevance, further solidifying ICAI’s position as a global leader in the accounting profession.

About ICAI

The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation and development of the profession of Chartered Accountancy in India. The Institute functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India. With around 9.85 lakh students and over 4 lakh members, today ICAI is the largest professional accountancy body in the world. ICAI has a wide network of 5 Regional Councils and 177 Branches within India and a global presence with 52 Overseas Chapters and 29 Representative Offices spanning 81 cities across 47 Countries worldwide.