Indian CAs are the most successful business leaders in the UAE

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 government officials, who spoke at a major conference titled: Bridging the Gap: Health and Wealth, organised 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 . 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 US$49 billion last year, said Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade. He also said that with the signing of the first Comprehensive Economic Partnership Agreement with India, the two-way trade and investment is 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.”

India has recently overtaken its colonial ruler, the United Kingdom, to become the world’s 5th largest economy, he said. Explaining about New India, Sunjay Sudhir, Indian Ambassador to the UAE, said, “8,000-strong Indian Chartered Accountants form the backbone of the UAE economy and being Indian; I'm proud of it. India broke free from colonialism 75 years ago. Modern India is about democracy, judiciary, digital India, startup India. Even in Covid times, India helped and connected the world. “While more than 4 billion people in the world do not have digital identity, all Indians – more than 1.4 billion Indians now have digital identity. This is the new India. The future is sustainable development, and we are currently heading towards that direction,” he said. “We are accelerating our efforts towards a clean and green society. Climate change and global warming can't be dealt with by governments only, it needs individuals to contribute. We have achieved the target of having 40 percent of the energy from non-fossil fuel sources, 9 years ahead of the target.”

 The Dubai Chapter of the Institute of Chartered Accountants of India (ICAI), which has emerged the largest overseas chapter of the ICAI with 3,100 members representing 1,550 businesses, has planned an ambitious roadmap for growth in 2023-24 with Sustainable Technology through Innovation at its heart. ICAI's Dubai Chapter, established in 1982, has grown to become the largest overseas chapter of the Institute of Chartered Accountants of India.