India is harnessing the winds of change with a clear vision to build Bharat 2.0. Our nation is setting global benchmarks through bold policy reforms that are not just addressing the needs of the hour but also having far-reaching effects, driving the nation on the path of Viksit Bharat@2047. These initiatives reaffirm our commitment towards becoming the fastest-growing economy in the world.

With integrity as its foundation and innovation as its engine, India is shaping a future defined by resilience, leadership, and global responsibility. The recent NextGen GST reforms represent a landmark simplification of taxation system, providing direct relief to citizens and businesses alike. By introducing a two-slab structure of 5% and 18%, alongside significant reductions on essentials, healthcare, and farm equipment, these reforms ease household expenses, enhance purchasing power, strengthen MSMEs, and support the common man. In the times to come, these reforms will enhance compliance and foster transparency, creating a fairer, people-centric framework that uplifts the middle and lower-income groups while reinforcing the nation's economic progress.

In direct taxation, landmark initiative new Income-Tax Act, provides concise and transparent statute, reducing redundancy while retaining policy stability. Meanwhile, the amendments expand taxpayer reliefs by enhancing standard deductions, raising rebate thresholds, ensuring fairness in pension taxation, and simplifying refunds. These steps not only align taxation with presentday realities but also reduce disputes, provide clarity, and deepen trust between the state and its taxpayers.

A new wave of legislative reforms further underscores India's resolve to modernize its financial architecture, enhance accountability, and protect the interests of citizens. The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, seeks to expedite corporate and group insolvency resolutions, clarify key definitions, and strengthen creditor rights, ensuring that distress situations are resolved swiftly, fairly, and with confidence.

At this defining moment of India's reform journey, our profession proudly stands at the forefront, translating visionary policies into tangible outcomes and ensuring that the fruits of change reach every section of society. Amidst the rapid and dynamic shifts in the financial landscape, we, as Chartered Accountants, always shoulder the responsibility of interpreting reforms with clarity, guiding both citizens and enterprises through transitions with confidence.

As the Hon'ble former Prime Minister, Shri Lal Bahadur Shastri aptly said, "The loyalty to the country comes ahead of all the loyalties". Guided by this spirit of placing the nation above all else, the profession acts as a bridge between governance and grassroots, safeguarding stakeholder interests, educating taxpayers, fostering trust, upholding the timeless values of accountability and transparency and reinforcing India’s march toward an inclusive, equitable, and globally admired fiscal architecture.

As the torchbearer of this noble profession, I extend my heartfelt encouragement to each of you acknowledging your dedication and reminding you to remain ever prepared for the responsibilities entrusted to us. The institute stands firmly beside you, offering a wide range of courses and certifications to equip you with clarity needed to navigate new reforms and policies. Let us uphold the solemn pledge we took to maintain ethics, integrity, and independence and to continue being steadfast partners in nation-building, supporting governance with honesty, accountability, and conviction.

Let us look at some key developments at the institute since our last communication:

I am thrilled to announce the second edition of ICAI's landmark event, the World Forum of Accountants (WOFA 2.0) on the theme "Nation Building to Global Collaboration: Strengthening Trust, Enabling Growth".

Following the immense success of our inaugural edition, this year's event promises an even bigger vision, better impact and a brighter future. It's a premier gathering of the global accountancy community, scheduled from 30^th January to 1^st February, 2026, at the India Expo Centre & Mart, Greater Noida in Delhi-NCR.

This platform will enable us to explore emerging trends shaping the future of our profession and reinforce India's leadership on the world stage. Registration for the same is starting soon and I urge all of you to book your seats early and participate in this momentous event.

In today's era of digitization and borderless economy, ICAI has undertaken several significant initiatives to enhance the global presence of Indian Chartered Accountants and open new avenues of professional opportunities.

• Developing Profession for Global Markets - Outsourcing Certificate Course - UK

Following the success of Outsourcing Certificate Course focused on US Market, a landmark initiative is undertaken with the launch of the 1st batch of the Certificate Course on Overseas Outsourcing Services focusing on UK. This specialized program aims to strengthen the capabilities of Indian professionals in global service delivery. It supports Indian CA Firms in understanding the regulatory and financial services landscape in the UK, enabling them to explore and undertake professional outsourcing assignments from the UK, especially in light of the recent India-UK Free Trade Agreement.

• 2^nd GCC Summit 2025 at GIFT City

Further, the ICAI successfully hosted the 2^nd GCC Summit 2025 on 29^th & 30^th August, 2025 at GIFT City Club, Gujarat, which was inaugurated by Shri Kalyanaraman Rajaraman, Chairperson, IFSCA, and featured a keynote address by Ms. Ponugumatla Bharathi (IAS), Secretary, Science and Technology Department. With 38+ speakers and 11+ sessions, the summit witnessed participation from over 800 delegates, including policymakers, industry leaders, and professionals.

• Meeting with Joint Secretary, Ministry of Commerce and IFSCA

On 10^th September 2025, a meeting was held with Shri Darpan Jain (IAS), Joint Secretary, Ministry of Commerce, focusing on the globalization of professional services and strategies to position India as a hub for accounting and financial expertise. Also, on 11^th September, 2025, ICAI participated in the IFSCA Chintan Shivir 2025 roundtable interaction at GIFT City, Gandhinagar, exploring professional opportunities and regulatory synergies.

• ITEC - Professional Training Program 

ICAI conducted 2^nd edition of the ITEC - Professional Training Program from 15^th to 26^th September, 2025 at the Centre of Excellence, Hyderabad. The programme hosted 29 international delegates from 17 countries under the aegis of the Ministry of External Affairs, Government of India. This initiative signifies India's growing leadership and reinforces its role as a pivotal partner in empowering developing nations through capacity building and knowledge transfer.

As we envision India's rise as an economic superpower, it is imperative to cultivate and celebrate the spirit of leadership, especially amongst the youth. Our profession has been a vital pillar of the nation's economy and diligently contributing towards strengthening and enriching our economy. Over the years, the institute has evolved not only as an institution of excellence but also as a catalyst for nurturing leadership, with members excelling across diverse domains.

In recognition of these remarkable contributions, and to reward and inspire exceptional young members, ICAI is proud to announce 'ICAI 40 Under 40 - CA Business Leader Award'. The last date for submission of nominations is 30^th October, 2025. I encourage all our promising young leaders to nominate themselves or their peers for this prestigious occasion.

I am elated to share a momentous milestone - the successful completion of 100 impactful sessions dedicated to promoting Work-Life Balance. This journey has now been honoured with dual recognition - the Asia Book of Records and the India Book of Records. This historic achievement reflects our aspiration to foster a culture where professional excellence is harmonized with personal well-being.

These recognitions along with 100 sessions milestone highlight our shared commitment to purpose, innovation, and resilience. They symbolise the triumph of a mindset that recognizes people as the greatest asset. With immense gratitude, the institute reaffirms its dedication to advancing this mission - empowering individuals to pursue excellence while embracing balance, inclusivity, and holistic growth in every sphere of life.

• Meeting with Accountancy Bodies in Canada

As part of the Institute's strategy to globalise the Indian CA profession and forge strategic alliances, I visited Canada in September, 2025 and met Ms. Pamela Steer, President & CEO, CPA Canada; Ms. Jovana Blagotic, Director, Federal & Global Affairs, CPA Canada, and Ms. Carol Wilding, President & CEO, CPA Ontario. The meetings centred around existing MoU and explored avenues for deeper collaboration to strengthen the global footprint of the Indian Chartered Accountancy profession. I also invited them for WOFA 2.0. During the visit, I also met Shri. Kapidhwaja Pratap Singh, Acting Consul General of India in Toronto, Canada and discussed the strategies to increase the brand value of the Indian Chartered Accountants in Canada.

• ECTA Unleashed India-Australia Trade Conference in Sydney

I also visited Australia to strengthen our collaboration with CPA Australia with the objective of creating pathways for enhanced professional mobility, and new business opportunities in both countries thereby, strengthening the Australia-India economic relationship.

During the visit, I addressed one-day forum titled ECTA Unleashed India-Australia Trade Conference on the theme "Bringing the India-Australia Economic Cooperation and Trade Agreement to Life", held on 23^rd September, 2025. My address focused on the profession's role in driving sustained growth in the Australia-India relationship.

• Business Leader's Forum 2025, Singapore

The ICAI Singapore Chapter and the ICAI Committee for Members in Industry and Business hosted the 2^nd edition of the Business Leaders Forum, in Singapore on 25^th September, 2025. The forum welcomed a lineup of distinguished guests and speakers, including Guest of Honor, CA. Suresh Prabhu, Hon'ble Former Union Minister, Govt. of India and Mr. James Lye, Global Head of International Banking, Standard Chartered Bank. The forum featured discussions on Global trade, AI, Fintech and ESG amid the evolving financial landscape.

• SAFA Board and Committee Meetings

In today's evolving global trade environment, the institute continues to support the development of the economy and profession in South Asian Region. In this direction, I along with CA. Prasanna Kumar D., Vice President, ICAI attended the 89^th SAFA board meeting in Colombo, Srilanka held on 16^th September, 2025. The meeting featured deliberations on emerging economic trends including AI, Fintech and Sustainability and its impact on the regional economy and the accountancy profession.

I also had the privilege to address CMA Sri Lanka Silver Jubilee National Management Accounting Conference on 16^th September, 2025 in the panel discussion on the topic "Artificial Intelligence and the Impact on the Professional Accountancy Organisations (PAOs)" During the visit, we also met with H.E. Shri Santosh Jha, High Commissioner of India to Sri Lanka in Colombo. The meeting focused on strengthening economic and developmental cooperation between the two countries.

On 17^th September, 2025, coinciding with Vishwakarma Diwas, ICAI signed a Memorandum of Understanding with the Department of Micro, Small and Medium Enterprises, Government of Uttar Pradesh, in the august presence of Hon'ble Chief Minister of Uttar Pradesh Yogi Adityanath in Lucknow. This collaboration marks a significant step towards strengthening the MSME sector, which serves as driver of employment generation. The MoU aims to support MSMEs through capacity building, entrepreneurship development, and integrated support services in key areas such as marketing, technology, finance, and global outreach. This partnership is in line with ICAI's vision of nation building and inclusive economic development through professional excellence.

The institute continuously strives to strengthen the governance ecosystem across local bodies to support citizen-centric decision and policy making, leading to ease of living and societal development. Recently, ICAI through the Committee on Public and Government Financial Management (CPGFM) has signed a Memorandum of Understanding (MoU) with the Mahatma Gandhi State Institute of Public Administration (MGSIPA), Punjab on 3^rd September, 2025 in the presence of Shri Anirudh Tewari, IAS, Director General, MGSIPA; and Shri Amit Dhaka, IAS, Director, MGSIPA. The primary focus of this collaboration is capacity building for government officials through workshops, training programmes, and short-term modules in key domains such as Accounting Standards for Local Bodies (ASLBs), Goods and Service Tax, IT-enabled Auditing, and Other related fields. This collaboration marks an important step towards enhancing knowledge and skills among government officials of Punjab and other stakeholders.

The institute convened a Brainstorming Meet on Academic Excellence in New Delhi on 8^th September, 2025. The meet aimed to shape a curriculum that not only meets global standards but also anticipates the future needs of business and society. With contributions from Past Presidents, industry leaders, and academic experts, discussions focused on integrating emerging domains such as AI, ESG, fintech, and data science, while enhancing experiential learning through digital tools and case studies. These insights will serve as valuable inputs for future reforms, ensuring that the next generation of Chartered Accountants continues to lead with competence, adaptability, and integrity in an evolving world.

Our nation is at the threshold of transformative change, and in this journey, each one of us must remain vigilant, reflective, and steadfast in our purpose. By choosing this profession as career, we have chosen a path less travelled - one where decisions are not confined to the boundary of right and wrong but are measured against the higher standard of ethics.

Mahatma Gandhi rightly observed "that economics is untrue which ignores or disregards moral values". In the light of this guiding thought, I urge every professional and aspiring student to embrace our discipline as one of continual self-assessment-demanding responsibility, principled judgment, and ethical conduct at every step. By living these values, we become the silent custodians of progress, empowering institutions and strengthening transparency through our insights and dedication.

As we enter the festive season, I extend my warm wishes to you and your families. May the upcoming festivals bring light, harmony, and renewed inspiration to uphold integrity and serve the nation with pride.

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