ICAI Operationalised New Overseas Office in Singapore to boost collaboration & bilateral relationship

The Institute of Chartered Accountants of India has operationalized New Overseas Office in Singapore to boost collaboration & bilateral relationship. Read the official announcement below:

Public Relations Committee
The Institute of Chartered Accountants of India
11th December, 2020

ICAI Operationalised New Overseas Office in Singapore to boost collaboration & bilateral relationship

The Institute of Chartered Accountants of India (ICAI) is a premier accountancy body and one of the largest in the world. ICAI’s sagacious journey of more than 71 years has seen it expand nationally and globally with its establishing 164 branches in India and one permanent Office in Dubai, UAE. Apart from this, ICAI has also expanded its presence to more than 63 Global cities of the world spanning in 43 countries.

ICAI permanent Office, representative Offices and Overseas Chapters facilitate in bringing foreign investment to India and also assisting Indian Industry by guiding them about the investment opportunities in different parts of the world. Recently, the Ministry of External Affairs, Government of India has given recognition to Overseas Chapters of ICAI to be at par with other Apex Trade and Industry Organisation. Further, one of the prime objectives of expanding global presence is to provide ICAI Members a forum for furtherance of their professional pursuits and knowledge on one hand and promoting affability amongst the ICAI members on the other besides providing opportunities of networking. ICAI currently has one permanent Overseas Office at Dubai, UAE, 37 Overseas Chapters and more than 26 Representative Offices.

The Institute’s 1st Overseas Office in Dubai, UAE was inaugurated in 2004 and has been instrumental in capacity building initiatives and support to various organisations in the entire Middle East region especially during VAT implementation in GCC Countries besides catering to more than 15000 ICAI members in the region. Looking at the success of ICAI permanent Office in Dubai, ICAI recently decided to open its 2nd Overseas Office at Singapore which was operationalised through e-Inauguration ceremony.

CA. Arun Singh, Hon’ble Member of Parliament (Rajya Sabha) was the Chief Guest at the virtual event who appreciated the ICAI initiative and said “The 2nd permanent Office of ICAI at Singapore would serve as a nodal point for ICAI to address the issues and concerns of its members and will play an important role in re-booting of Indian economy by promoting foreign investments and supporting export of services.” He further added, “Members of the profession have very important role to play in creating awareness about various government policies so that benefits could reach to all segments of the society.”

CA. Atul Kumar Gupta, President ICAI while addressing the members said “ICAI Singapore Office is yet another step of ICAI’s continued thrust to expand Indian accountancy professional globally and would enhance the brand image of Indian CAs in these countries and Asia Pacific countries. ICAI started office in Singapore to further boost collaboration, align bilateral relationship with Hongkong, Indonesia, Singapore, Taiwan, Malaysia and this step will help to inculcate best practices, attracting investment.”

The event also witnessed participation of Special Guest H.E. Mr. P. Kumaran, Hon’ble High Commissioner of India to Singapore, Vice-President ICAI CA. Nihar N Jambusaria and Managing Committee of Singapore Chapter. H.E Mr. P. Kumaran, Hon’ble High Commissioner congratulated ICAI on taking this bold initiative which would further strengthen the relations and reaffirm ICAI commitment to work closely to strengthen the trade ties & investment opportunities with other countries.

ICAI’s Singapore Office will help to serve more than 1000 ICAI members in Association of Southeast Asian Nations (ASEAN) countries by providing services related to member’s areas and in restoring the membership in these countries. It would also help them in maintaining good liaison with Professional Accountancy Organisations in these countries and will promote brand CA in Asia Pacific regions, more particularly in ASEAN countries.

These historic steps will offer immense benefits to the entire Indian accounting fraternity in ASEAN region and across the globe.