Indian Chartered Accountants play great role in UAE’s growing economy; Officials

By Shilpa Annie Joseph, Official Reporter
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ICAI Dubai Chapter
Officials during the conference.

Indian Chartered Accountants are playing a great role in UAE’s growing economy as more than 8,000 Indian Chartered Accountants now manage the financial affairs of large business houses, according to senior UAE government officials.

They made this comment during the major conference titled, ‘Bridging the Gap: Health and Wealth,’ organized by the Dubai Chapter of the Institute of Chartered Accountants of India (ICAI), which completed 40 years in the UAE.

“With more than 3,100 members in ICAI Dubai Chapter who manage 1,550 large businesses in Dubai, are significantly contributing to the growth of our economy,” Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said at the large gathering of business leaders, accounting professionals, and government officials.

ICAI (Dubai) Chapter, established in 1982, is the largest, most active, and award-winning chapter among the 45 overseas chapters of ICAI. It has registered phenomenal growth in membership in recent years and currently has over 3,100 members representing more than 1,550 multinationals and other companies.

Thani bin Ahmed Al Zeyoudi Image
Dr. Thani bin Ahmed Al Zeyoudi
UAE Minister of State Foreign Trade

“Chartered Accountants, especially Indian Chartered Accountants, have now become some of the most successful business leaders in the UAE, who are contributing to the growth of our bilateral trade with India that exceeded $49 billion last year. With the signing of the first Comprehensive Economic Partnership Agreement (CEPA) with India, two-way trade and investment are going to grow further and I’m sure the Indian business community and chartered accountants will play a great role in expanding bilateral economic relations.”

Currently, the ICAI has a presence in 47 Countries having 45 Chapters and 33 Representative Offices across 77 Global cities. It has overseas offices in Dubai and Singapore. Of the 8,000 Indian Chartered Accountants active in the UAE’s private sector, 1,400 are currently leading businesses as Chief Financial Officers, according to His Excellency Sunjay Sudhir, Indian Ambassador to the UAE.

Further, the Dubai Chapter of the Institute of Chartered Accountants of India (ICAI) has planned an ambitious roadmap for growth in 2023-24 with Sustainable Technology through Innovation.

Announcing the new roadmap, CA Harikishan Rankawat, the newly-elected Chairman of the new Executive Committee of the ICAI Dubai Chapter said, his organization has lined up several impactful events in line with the theme of the Year of Sustainability, which is being observed throughout the UAE in 2023.

“Sustainable Technology through Innovative Ideas is the future ahead. To ensure a beautiful world with the availability of all necessary resources is handed over to our future generation, we need to innovate and adapt sustainability. Else our actions will be questioned by our future generation. Therefore, Sustech through Innovation is the only way ahead and as ICAI Dubai Chapter, we adapt this theme for the year 2023-24,” noted CA Jai Prakash Agarwal, Secretary of the ICAI Dubai Chapter.

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