Indian MSME’s require Foreign Investment to provide investors good viability, revenue
Nitin Gadkari, Union Minister, emphasised the importance of drawing more FDI into the MSME sector, stating that such businesses provide good viability and revenue to investors. The minister also asked chartered accountants to recommend strategies and new approaches to attract maximum foreign investment into the Micro, Small and Medium Enterprises (MSME) sector, speaking at a virtual international conference organised by the chartered accountants’ apex body ICAI.
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Gadkari, the Minister of Road Transport and Highways, stated that chartered accountants can aid in the acceleration of the country’s economy because they are familiar with the issues and can advise on how to enhance exports and decrease imports.
He has also held the position of MSME minister. ‘Accountants Creating a Digital and Sustainable Economy’ was the theme of the three-day conference. The conference was projected to attract around 3,000 professionals from around the world.
Nihar N Jambusaria, President of the Institute of Chartered Accountants of India (ICAI), said the chartered accountant profession adds value to the process of economic and social growth.
The ICAI Virtual International Conference “Accountants Creating a Digital and Sustainable Economy” was organised in virtual format from 20th to 22nd of January, 2022. The conference dwelled deeper into the profession’s various issues and challenges, including the necessity of digitization and the need to create a sustainable world.
The ICAI Virtual International Conference provided an excellent forum for the exchange of ideas through interactive discussions among global and local stakeholders. It was attended by all individuals who were interested in staying updated on current challenges and learnings from the crisis.
Do watch – https://www.youtube.com/watch?v=6_yBgVLnwKA&t=28s
From the previous seven decades, the ICAI has played a critical role in building a resilient reporting framework for the nation’s sustained economic progress. The accounting profession has worked hard to incorporate the finest worldwide practices and standards for a strong financial reporting and assurance structure, instilling trust and confidence among stakeholders.
Every year, the ICAI holds an ICAI International Conference, acknowledging its role and duties to the stakeholder community and contributing to the promotion of public interest through resilient practices for a dynamic economy.