India-UK FTA to boost accountancy services: ICAI president

The India-United States Free Trade Agreement is expected to enhance the flow of high-value professional services to India.

According to Economic timesCharangot Singh Nanda, head of the Institute of Public Accountants in India, said this development will benefit thousands of legal accounting companies and professionals.

Nanda said: “By actively engaging with the Ministry of Trade and Industry, ICAI guaranteed access to liberal markets and the inclusion of the condition of treatment with the same that protects the title of” legal accountant. “

Nanda highlighted the advantages of India, including cost efficiency, skilled workforce, and a strong reputation, as it benefits from the free trade agreement.

India has committed to opening 108 sectors of sub -services, such as accounting and auxiliary financial services, for UK companies under the commercial agreement signed last week.

On the other hand, the United Kingdom will provide Indian companies access to 137 sub -sectors, covering almost all current services in India.

Nanda stated that ICAI also called for mutual recognition of qualifications, allowing Indian legal accountants to register and practice in the United Kingdom on the basis of reciprocity.

Through its council, ICAI provided technical inputs on the license, recognition of qualifications, and digital services, which leads to the inclusion of a cross -border supply under situation services 1.

“This opens the chances of using large external sources in areas such as holding notebooks, taxes and consulting,” he added.

ICAI also facilitated the provisions of the commercial presence under the 3nd situation services, which enabled Indian companies to register and work in the United Kingdom without discriminatory restrictions while preserving the principle of reciprocity.

In other news from the Indian Accounting Sector, earlier in July 2025, ICAI invited the general comments on the proposed amendments to the regulations 204 of the legal accountants regulations, 1988.

The amendment provides the “criminal investigation” as a recognized field, which expands the scope of legal accountants.

Posted in India newspaper on June 26, 2025, the draft regulations are open for comments until July 31, 2025.

The ICAI Council will review all the comments before completing the regulations of legal accountants (first amendment), 2025, which will become valid when publishing in the Official Gazette.

India-The Free Trade Convention to increase accounting services: It was originally created and published by the accountant, which is a brand owned by the Globaldata brand.

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