ICAI Presents CA 40 Under 40- An Event that Celebrates the Achievements of the Outstanding 40 Young Chartered Accountants Across the Country

CA 40 under 40

The prestigious Institute of Chartered Accountants of India (ICAI) in association with CNBC-TV18 organised an event ‘40 Under 40 – CA 40 Under 40 Awards’ on 16th March in New Delhi to recognise and honour the exemplary contributions of young outstanding CA who have demonstrated excellence as CA professionals.

To celebrate the achievements of these young dynamic achievers, numerous industry leaders, dignitaries, and key ICAI personnel gathered at the event.

The event was graced by the presence of the guest of honour, Mr. Subhash Chandra Garg who has served as the Economic Affairs Secretary and Finance Secretary of India and Executive Director of the World Bank.

From ICAI, event was graced by CA. Aniket S. Talati (Honourable President, ICAI); CA. Ranjeet Kumar Agarwal (Honourable Vice President, ICAI); CA. Durgesh Kabra (Chairman, CMIB, ICAI); and CA. Rohit Ruwatia (Vice Chairman, CMIB, ICAI) and Council Members

CA. Aniket Sunil Talati, President, ICAI said “We must recognize the young achievers of our profession as they are the brand ambassadors of the ICAI and Chartered Accountancy is the most popular profession among youngsters as we see that more and more students are choosing CA course as their preferred choice of career option”.

CA. Ranjeet Kumar Agarwal, Vice President, ICAI said “there could not be a better motivation than recognition and these 40 young CA Achievers are the brand ambassador of the profession and we look forward to them as the young leaders of our profession who would showcase to India the potential of our CAs in realizing the country’s dream of becoming an Economic Superpower”

Earlier, CA. Durgesh Kabra, Chairman, CMI&B said “Chartered Accountants play a pivotal role as a complete business solution provider in nation building and ICAI continues to innovate, and follow practices that support economic stability and growth”.

Tax reforms driving the growth story of India

The event started with a panel discussion on the topic - “tax reforms driving the India’s growth story”. For any economy to flourish, the taxation system plays an important role whether it is promoting investments or providing relief to the common man, tax reforms play a crucial part.

The panel of experts who contributed their views on the topic included Ms. Naina Lal Kidwai (Chairperson, Rothchild India); CA. Nihar N. Jambusaria (Past President, ICAI); CA. Sanjay Aneja (CFO, DS Group); and CA. Chandan Agarwal (Head – Taxation, Dabur India).

Ms. Naina Lal Kidwai highlighted that the robust tax collection through GST has helped India to commit to a fiscal deficit of 6.4% of GDP this year and cut it down to 5.9% of GDP next year. CA. Nihar N. Jambusaria supported the statement and further added that the tax department should remain vigilant to further ensure strong tax collections. And, to increase tax efficiency, the government needs to focus on reducing the tax rate and removing the fear of a faceless tax administration system. Adding to this, CA. Sanjay Aneja also highlighted other focus areas that India should prioritize. These include working on the rationalisation of GST, reduction of income tax slabs from the current 6 to 2 or 3, and further boosting the ease of doing business to ensure that the tax collection keeps on increasing and tax evasion is curbed. Joining in the conversation, CA. Chandan Agarwal expressed that the implementation of GST and digitalisation have brought about major reforms, with the government aiming to increase the Tax-to-GDP ratio to 15%, up from the current 10%, over the next two to three years.

The building bricks of a sustainable economy

In the next session, Mr. Subhash Chandra Garg shared his thoughts on ‘the building bricks of the sustainable economy’. According to him, India's USD 5 trillion economy goal is achievable if three components are correctly addressed namely- taxation, gross value added (GVA), and subsidies. If these are effectively managed, the economy would be able to reach the USD 5 trillion mark by 2025.

Applauding the accomplishments of CA business professionals

Talking about the winners, the esteemed jury members meticulously evaluated the nominations after a rigorous selection process. The accomplished CA business leaders were judged by a jury comprising of leadership from ICAI, industry leaders, and management stalwarts such as CA. Akhil Gupta (VC Bharti Enterprises); CA. Motilal Oswal (MD & CEO of Motilal Oswal Financial Services); CA. Ramesh D. Chandak (Former MD & CEO, KEC International); CA. Ritesh Tiwari (Executive Director & CFO at HUL-South Asia); CA. Rajesh Magow (Co-founder & Group CEO MakeMyTrip); and Mr. KV Chowdary (Former Central Vigilance Commissioner along with our process partner, CareEdge Ratings.

The event honoured the outstanding contributions of 40 CA business leaders under the age of forty, recognizing their innovative ideas, strategies, and leadership in cause-driven campaigns that have generated growth for the environment, people, and economy.

The award ceremony ended with closing remarks from CA. Rohit Ruwatia, Vice Chairman, CMIB. He expressed his appreciation and gratitude to the organisers, panellists, guest of honour, jury, and ICAI team who worked hard to make this event a grand success. He also congratulated the winners and wished them luck in their future endeavours.

Click on the link to check out the list of exemplary winners of the ‘ICAI 40 Under 40 CA Business Leaders Awards’- https://www.moneycontrol.com/msite/CA40Under40/Winners

Moneycontrol Journalists were not involved in the creation of the article.