ICAI has rolled out a global training initiative under the India-UK FTA, paving the way for Indian accountants to access opportunities in the UK, US, Canada, Australia, and New Zealand.
The Institute of Chartered Accountants of India (ICAI) is rolling out a targeted training programme next month, aiming to prep its members for professional practice and registration in the UK, thanks to fresh opportunities under the India-UK Free Trade Agreement (FTA).
ICAI President Charanjot Singh Nanda confirmed on Wednesday that about 200 professionals will join the first UK-focused batch, building on the programme’s initial launch and following the success of a similar initiative for the US, which has already trained over 1,000 CAs.
“We’re planning similar programmes for five countries—the US, the UK, Australia, New Zealand, and Canada. We’ve wrapped up the US programme, and we expect to cover the rest, including the UK, within a year,” he said.
ICAI played a key role in negotiating favourable terms for Indian professionals in the FTA, working closely with the Ministry of Commerce to secure broader market access and a vital reciprocity clause for the “Chartered Accountant” title.
Through its Council, ICAI provided input on licensing, qualification recognition, and digital services, leading to the formal inclusion of cross-border services. This opens up fresh outsourcing opportunities in book-keeping, tax, and consulting. Mutual recognition of qualifications now allows Indian CAs to register and practise in the UK on a reciprocal basis.
ICAI also enabled provisions for Indian firms to set up shop in the UK with fair treatment and without unfair restrictions, while preserving principles of reciprocity.
With India’s cost efficiency, skilled workforce, and trusted reputation, industry insiders expect a sharp rise in high-value professional services flowing to Indian CA firms. “This is a major boost for India’s global services footprint, without compromising on professional standards at home,” Nanda added.
MoUs with NSE IFSC, IVCA
Meanwhile, ICAI has signed initial agreements with NSE IFSC Ltd (NSE IX) and the Indian Venture and Alternate Capital Association (IVCA) to further investor education and professional growth. The MoU with NSE IX focuses on collaboration and investor awareness, as well as international investment and professional development in India’s capital markets.
The partnership will include co-branded educational initiatives in emerging fields such as global investing, derivatives, and financial innovation. The MoU with IVCA aims to set up joint expert groups on alternative capital and work towards standardising financial reporting frameworks with industry input.
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