Chief minister YS Rajasekhara Reddy on Thursday laid the foundation stone for the Hyderabad Centre of Excellence (HCE), being set up by the Institute of Cost and Works Accountants of India (ICWAI) at a cost of Rs 8.5 crore .
Speaking on the occasion, the chief minister said he hoped to see more efficient cost accountants and management experts coming out from the HCE.
Attributes like saving, efficiency and proper management have a significant role to play in the Indias growing economy, he added.
ICWAI president Chandra Wadhwa said the Parliament was likely to introduce a Bill in the winter session for setting up of a regulatory body for valuer professionals -Council for Valuer Professionals of India on the lines of the Medical Council of India.
According to him, the institute would also set up similar centres of excellence in Mumbai and Jaipur in the near future.
HCE has already entered into an in-principle agreement with the Institute of Management Accounts, US, to conduct specific research in the retail and telecom sectors.