Institute of Chartered Accountants of India (ICAI) President Charanjot Singh Nanda
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PTI
The Institute of Chartered Accountants of India (ICAI) is launching a specialised training programme next month to equip its members to offer professional services and register in the UK, leveraging the new India-UK Free Trade Agreement (FTA).
ICAI President Charanjot Singh Nanda announced on Wednesday that the first batch of approximately 200 professionals will begin formal training next month, building on the programme’s initial launch last month. This initiative mirrors a successful programme for the US, which has already trained over 1,000 professionals.
“Our plan is to have programme for five countries – the US, the UK, Australia, New Zealand and Canada. While the US is done, for remaining including the UK, are likely to be covered within a year,” he said.
Earlier, Nanda had said that the ICAI played a pivotal role in securing favourable provisions for Indian professionals in the India-UK Free Trade Agreement. By actively engaging with the Ministry of Commerce and Industry, ICAI ensured liberal market access and the inclusion of a reciprocity clause protecting the use of the “Chartered Accountant” title.
The Institute, through its Council, provided technical inputs on licensing, qualification recognition and digitally delivered services, leading to the formal inclusion of cross-border supply (Mode 1). This opens significant outsourcing opportunities in areas such as bookkeeping, tax and consulting. ICAI also championed mutual recognition of qualifications, enabling Indian CAs to register and practice in the UK on a reciprocity basis.
Additionally, ICAI facilitated provisions for commercial presence (Mode 3), enabling Indian firms to incorporate and operate in the UK with national treatment and without discriminatory restrictions while restoring the principle of reciprocity.
Given India’s cost advantage, skilled workforce and trusted reputation, this is expected to significantly expand the volume of high-value professional services work flowing into India, benefiting thousands of CA firms and professionals. These efforts collectively boost India’s global service footprint while preserving regulatory integrity and professional standards at home, Nanda added.
Pact with NSE IFSC
Meanwhile, ICAI has inked initial pacts with NSE IFSC Ltd (NSE IX) and the Indian Venture and Alternate Capital Association (IVCA) as part of advancing investor education and professional development. The memorandum of understanding with NSE IX is aimed at fostering collaboration and promoting investor awareness, international investment, as well as professional development in the country’s capital market.
Under the partnership, the two entities will also have co-branded educational initiatives in emerging areas such as global investing, derivative instruments and financial innovation. The MoU with IVCA will be mainly for the establishment of joint expert groups on alternative capital issues, as well as work towards standardisation of financial reporting frameworks with industry-led consultations, according to a release.
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Published on July 30, 2025
