One-day seminar on “Viksit Bharat-2047 and role of CMAs in Developing India 2047” held

Chandigarh, June 10, 2024: Professional Development Committee of the Institute of Cost Accountants (ICMA) in association with Chandigarh-Pkl-Mohali chapter organized a one-day seminar on “Viksit Bharat-2047 and role of CMAs in Developing India 2047”. Event was inaugurated by the CMA Ashwin G. Dalwadi, President of the Institute of Cost Accountants of India (ICMAI) in presence of CMA Bibhuti Bhusan Nayak, Vice –President and CMA Manoj K Anand- Central Council Member of the institute at PDH House in Chandigarh.

In his address to CMAs and other professionals from Industry, Dalwadi emphasized the formal costing mechanism in industry especially in MSMEs sector to make them competitive in the global market. He mentioned that MSMEs are the backbone of the economy and generate employment also. By adopting formal costing in the MSME sector it will help them to monitor their utilization of resources in a better manner and MSMEs will be able to compete at global level. He further emphasized that we must reach every corner of society to make India a Developing economy by 2047.

Nayak, Vice-President also interacted with the participants and appreciated the role of chapters and its members for their contribution in industry for decision making process and also to work out the cost of products in a systematic manner with great transparency. He also assured all possible help to industry and CMA members in tricity from the Institute side.

On the occasion, CMA Manoj K Anand, Chairman Professional Development Committee of the Institute of Cost Accountants of India also talked about how ICMAI is helping policy makers in government to adopt different and effective practices in industry to make local industry a global player. He also mentioned how the CMA profession has played an important role in determining the correct value of goods and services and based upon that the government could work out its resources and available capacity in the country.

CMA Gulshan Kumar, Chairman professional development committee of Chapter introduced the dignitaries present and also talked about the theme of the event.

Experts of the field discussed the scope of MSMEs in the global market. CMA Pankaj Jain, founder of Bhartiaya Global MSMEs Forum talked about the success story of MSMEs becoming MNCs and making ‘vocal for local’ a reality. He narrated the story of how he ran a model of MSMEs having global presence. He elaborated how MSMEs can be a way forward for India Developing economy by 2047.

CMA Ish K Dandona an CMA icon from Industry also presented his presentation on role and avenue for cost accountants.

Bharati Sood, Reional Director PHD Chamber of Commerce and Industry, CMA Anil Sharma, past chairman of NIRC-ICMAI and CMA D.S Bhatia also shared their views with participants and urged the government to enhance the role of CMAs in Industry and government spending especially in infrastructure.

In the welcome session, CMA Sanjay K Singh, Chairman of Chandigarh-Pkl-Mohali chapter of CMAs welcomed the dignitaries and appraised the President about contribution of the chapter and how industry is being served in this part of the region. CMA Mukesh kumar Pandey-Vice Chairman, CMA Munish Goel Secretary, CMA Anil K Gupta Treasurer, CMA C.L.Bansal sr member of the profession were also present on the occasion.

As many as more than hundred CMA professionals and students pursuing CMA course from tricity and northern India including industry executives attended the event and discussed how role of CMAs can be made more effective and how new challenges can be met to make the Indian industry global player. Seminar ended with a formal vote of thanks by CMA Parveen Sharma, a senior executive from the pharma industry.