New Delhi, July 1: India’s Vice President C.P. Radhakrishnan highlighted the critical role of Chartered Accountants (CAs) in strengthening the nation’s economic framework during the 78th Chartered Accountants Day celebration. He referred to CAs as “ambassadors of trust,” emphasizing their importance in achieving India’s ‘Developed India 2047’ vision through enhanced transparency, accountability, and ethical governance.
Speaking at the event held at Vigyan Bhawan in the national capital, he stated that economic progress cannot solely be measured by numbers. “Economic growth without ethics can never truly serve society,” he remarked.
Radhakrishnan praised the rigorous examination standards of the Institute of Chartered Accountants of India (ICAI), urging the institution to maintain its high benchmarks. He asserted that a stringent and transparent examination system is essential for producing competent professionals, thereby ensuring the reliability of the entire financial system.
“You are not just conducting exams; you are safeguarding the entire system,” he added.
He noted that India has experienced rapid economic growth over the past decade, becoming the world’s fourth-largest economy. He expressed confidence that India is on track to become the third-largest economy soon.
The Vice President explained that Prime Minister Narendra Modi’s vision of ‘Developed India 2047’ extends beyond mere economic growth; it is rooted in transparent governance, trustworthy institutions, equal opportunities for all, and the prosperity of every citizen.
Referencing the renowned Tamil saint-poet Thiruvalluvar, he stated that wealth earned honestly and ethically leads to lasting happiness and prosperity.
Radhakrishnan urged CAs to protect honest businesses, promote fair competition, and stand firmly against unethical practices. While acknowledging the importance of ease of doing business, he insisted that it must always operate within legal frameworks, highlighting the crucial role CAs play in maintaining this balance.
He further noted that CAs have significantly contributed to the successful implementation of major economic reforms in the country. He mentioned key areas such as Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), Direct Benefit Transfer (DBT), and tax reforms, attributing their effective execution to the expertise of the CA community.
These efforts have led to increased transparency, strengthened compliance, and enhanced investor confidence.
Addressing students and professionals, Radhakrishnan emphasized that each audit conducted by a CA, every certified balance sheet, and every piece of financial advice impacts not just a company but also the government, industry, and society at large.
He urged all CAs to uphold the highest standards of integrity and fairness throughout their professional lives. Additionally, he appealed to CAs to support local enterprises under the ‘One District One Product (ODOP)’ initiative.
He suggested that ICAI’s district-level units develop better insights into key products in their regions to assist local entrepreneurs in reducing costs, maintaining quality, and enhancing competitiveness, thereby strengthening the local economy.
During the ceremony, the Vice President launched the ICAI Peer Review Board (PRB) web portal and the ICAI Jan Utsav portal, developed in collaboration with the Government of India’s MyGov initiative, aimed at maximizing participation in the 78th Chartered Accountants Day celebration.
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