• Register
Return to: Home > News > Education > Indian industry fights skills shortage

Indian industry fights skills shortage

Unprecedented student numbers and the introduction of second-tier accounting qualifications are helping to alleviate a skills shortage in India that is predicted to double during the next five years.


kIndustry figures speaking with The Accountant for the 2007 India survey (see: Patners in nation building) estimated the nation had a shortage of 500,000 accountants. Kunal Banerjee, the president of the Institute of Cost and Works Accountants of India, said that within five years the shortage will reach one million.

Institute of Chartered Accountants of India (ICAI) president Ved Jain is more optimistic and is backed by recent student figures. Jain said the average number of Indian students beginning the ICAI course each year between 2000 and 2005 was about 25,000. That jumped to 99,000 in 2006 and 151,000 in 2007. Indications suggest the trend is continuing.

“I am confident that by the year 2011, because it is a four-year course, the number of CAs registered with our institute will more than double,” Jain predicts. The institute currently has almost 150,000 members.

The Indian accounting profession’s skills shortage is also being tackled by the creation of second-tier accounting qualifications.

The ICWAI is launching an accounting technicians qualification next month and the ICAI is hoping to start its own by December.

In both cases, after completing the technicians course, students will have the choice of continuing on to complete the full professional qualification.

Top Content

    Addressing tax challenges and the digitisation of the economy

    As the economy becomes even more globalised through digital sources, the tax systems currently in place need to be scrutinised to examine whether they are still fit for current and emerging business models. Joe Pickard reports on the OECD’s approach to this issue.

    read more

    Primary financial statements: a game changer in reporting?

    International Accounting Standards Board chair Hans Hoogervorst delivered a speech at the Seminario International sobre NIIF y NIF, organised by the Consejo Mexicano de Normas de Información Financiera in Mexico. The Accountant presents the highlights.

    read more

    FASB readies standards for the netflix generation

    The US Financial Accounting Standards Board (FASB) has updated its accounting standard for entertainment, with a specific eye on keeping up to date with how episodic content, such as television programmes, is consumed in the modern world. Jonathan Minter reports.

    read more

    Brexit: why it takes two to tango

    Former TA editor Vincent Huck, now editor of Insurance Asset Risk, looks at why Brexit might unleash geopolitical intrigue in Europe’s accounting standard-setting scene – and why IFRS 17 will be an incredible source of opportunity for firms in the coming years.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.