Chennai, June 13 The Institute of Chartered Accountants of India (ICAI) will set up its chapter in New YorK, USA.

Talking to newspersons here last evening , ICAI President Ved Jain said this would provide an opportunity to members of the institute, based in other countries, to interact among themselves professionally.

The ICAI Council has approved setting up of the Chapter, which would be the 20th outside India. The ICAI had its chapters in Zambia, Saudi Arabia, Botswana, Nigeria, Nairobi, Port Moresby in Papua New Guinea, Dubai, Abu Dhabi, Bahrain, Kuwait, Doha, Australia, Canada, Indonesia, London and Muscat. These chapters would act as a bridge between the ICAI and the accountancy bodies in these countries, besides helping in identifying professional and boosting professional opportunities available for its members. These chapters would also assist the ICAI in setting up of Accountancy Institutes where it did not have chapters. Mr Jain said the ICAI would soon introduce Accounting Technicians Course.

''The multi-faceted growth of Indian economy has resulted in huge demand for second tier accounting personnel for large as well as small and medium enterprises,'' Mr Jain said.

''To meet this ever-increasing demand in the industry as well as in the services sector, the ICAI Council has decided to launch this course to fill gaps at the operational level as accountants and also to ensure that the value chain in the accounting process does not suffer,'' he added.