Sub Heading : CAs are expected to be in short supply once GIFT shapes up
As one of the fastest growing states, Gujarat offers immense opportunity to professionals such as chartered accountants (CAs), who will be in short supply once the Gujarat International Finance Tech (GIFT) city shapes up, said Gujarat chief minister Narendra Modi. He added that apart from GIFT, the state's booming agriculture would also be a new avenue for CAs, as their services would be required by farmers who have crossed national boundaries to reached global markets.
Modi was addressing an event organized by the Ahmedabad branch of Western Indian Regional Council, a part of the Institute of Chartered Accountants of India on Tuesday. The event was held as part of the ICAI's Diamond Jubilee Year celebrations. There are opportunities galore in Gujarat and agriculture is only one of them for CAs. Apart from GIFT and agriculture, CAs in Gujarat are also expected to benefit from the Delhi-Mumbai Industrial Corridor, which is going to be the next growth driver for Gujarat, added Modi.
With around 40% of DMIC passing through Gujarat, the state is going to witness balanced growth in the coming years, with development of ports, railways, roadways, manufacturing and the services sector. Also, with the emergence of special industrial regions, Gujarat would be ahead of other states, which are still concentrating on special economic zones. According to Modi, CAs are neither sought, nor get as much respect as doctors, despite the fact that their authority is considered final in many financial transactions.
Gujarat can take the initiative and try to bridge the gap between services of CAs and the mindset of the common man, to change this situation. The change is possible within 4-5 years, if the association takes initiatives and the government helps them, he said.