India exporting not just goods but credibility and competence too: ICAI president

ICAI President Charanjot Singh Nanda

ICAI president Charanjot Singh Nanda believes India has moved away from a "cautious liberalisation" in 1991 to "confident global leadership" today and it is 'exporting' credibility and competence to the world.

"Free trade agreements with UK, UAE and Australia and regional engagements signals a strategic pivot towards high value diversified goods. India is not just exporting goods, it is exporting credibility and competence," Nanda said during the Powering Bharat Summit organised by Network18 in collaboration with Moneycontrol, News18 India, and CNBC Awaaz.

The Summit brings together key government ministers and industry leaders to chart India’s journey toward becoming a developed nation by 2047.

Nanda further said India is poised to become a global power soon because of its talent, diversity and democracy. He further credited the technology advancements in the country for propelling it to become the 4th largest economy in the world.

Moreover, Nanda said India is on its way to become a tech powerhouse and it will soon reach $100 billion GCC market-size by 2030, from $64 billion currently.

"We've close to 1,700 Global Capability Centres, and 1.9 million professionals are working there.  India's youthful energy drives innovation and consumption, and attracts investments. From a tax contributor base, to cloud computing and AI, this generation is laying the ground work for modern India," he said during the summit.