Smart Business Seminar on how Cost Accountants are the key to leveraging Atmanirbhar Bharat opportunity

The online Smart Business event held in association with the Eastern India Regional Council (EIRC) of The Institute of Cost Accountants of India (ICAI) under the aegis of Women Empowerment Committee of EIRC on 29 August, 2020 saw a range of industry best practices, the scope of technology and knowledge databases, as well as the associated challenges and opportunities being discussed. 

Cost Accountants remain crucial for businesses and especially micro, small and medium enterprises, for leveraging the opportunity of a self-reliant India, industry experts said at this online discussion organised by Business Standard in association with the Eastern India Regional Council (EIRC) of The Institute of Cost Accountants of India (ICAI) under the aegis of Women Empowerment Committee of EIRC focusing on 'Atmanirbhar Bharat - The Role of Cost Accountants'.

CMA Arundhati Basu, Chairperson – Women Empowerment Committee of ICAI-EIRC welcomed all the dignitaries and guests in the programme and she focused upon the fact that Cost Accountants would play an important role, specially in the MSME Sectors.

The organizing committee of EIRC of ICAI was grateful to Smt. Locket Chatterjee, Member of Parliament (Lok Sabha) Hooghly Constituency, West Bengal for her kind and gracious presence during the programme.

CMA Pallab Bhattacharya, Chairman, EIRC suggested for a separate legislation for Cost Accountants and also highlighted that the MSME sectors may utilise the services of Cost Accountants to boost the growth of their businesses.

CMA Biswarup Basu, Vice President, ICAI said the Institute is proactively supporting the Government in various areas like GST, and also by opening up MSME helpdesk. He also highly appreciated the initiative taken by the Government for coming up with Atmanirbhar Bharat Programme.

CMA Chittaranjan Chattopadhyay, Central Council Member and Chairman, BFSI Committee, ICAI highlighted that in the growth of MSME, Cost Accountants will play a crucial role in making India self-reliant.

CMA Ashis Banerjee, Regional Council Member, EIRC said that in the current economy, exports and scalability are becoming integral to business operations. Cost accountants can play a crucial role by identifying the key strategies by which businesses can capture international markets.

CMA Parvathy Venkatesh, Partner at Ramanath lyer & Co., said rather than being seen as financial cleanup professionals, Cost Accountants should increasingly position themselves as broad performance enablers for companies at a time when the Atmanirbhar Bharat Programme opens up the chance of incremental growth across sectors.

CMA M Gopalakrishnan, Former President, ICAI said rationalisation of resources and informing industry of confidence-building measures to stabilise the flow of workers, would be among the most important jobs of a Cost Accountant in the aftermath of the COVID -19 pandemic.

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