A Step towards building Bhartiya Global Consulting firm
Tired of too many ads? go ad free now
The Central Government initiatives have been making waves in many media houses, there have been many seminars, discussions, forums, and the like, it is today has seen a reality after the buzz. The buzz should not remain, and this reality is a welcome breath.
The pioneering 3 firms who have joined hands have good presence across India. Kirtane & Pandit is a Western India firm with 7 decades of credibility and so has SS Kothari Mehta & Co.,
North Indian Firm. A Bangalore based firm Guru & Jana is representing South. This has been a new alliance as per the guidelines of ICAI. Every journey happens with a single brave step - is this the new one? New journeys start with a conviction, and not with a business plan - this journey has happened and is a reality today.
A Step towards building Bhartiya Global Consulting firm.
The Institute of Chartered Accountants of India, the regulator for accounting professionals in India has come out with a guidelines for alliance firms, networking firms, and recently have shared the draft exposure of even International networking guidelines.
The ICAI first introduced the Networking Guidelines in 2005, subsequently revised in 2011 and 2021, but adoption remained low .
In 2024–2025, a dedicated Committee for Aggregation of CA Firms (CACAF) was set up to overhaul these guidelines . This Committee has also given the direction of "networking of international firms"
Recently the PMO has also have had high level committee meetings for creating an Indian CA firm.
Tired of too many ads? go ad free now
The commerce Minister Shri Piyush Goyal also made comments that "Atma Nirbar Bharat" should now move to accounting firms. The regulator all these years has been prohibiting any advertisement or publicity of the accounting firms, now the ICAI has been exploring possibilities of creating new guidelines to start the advertisement in the world of digital media.
Times have changed and the premium accounting regulator is now working in this direction.
This sequel is going to propel more such alliances, and it appears that the initiatives of Prime Minister Narendra Modi in 2016-17 and is now persistently pursued by Mr. Sanjeev Sanyal Member of PMO Economic Advisory Council with the rank of Secretary, Government of India have started yielding seeds for a beautiful tree called Bharat Firms!
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
16 minutes ago
- Economic Times
RBL Bank shares rally 3% as Dubai-based Emirates NBD Bank eyes up to 20% stake
Shares of RBL Bank rose 2.7% to Rs 266.95 on Wednesday after reports said Dubai government-owned Emirates NBD Bank is in talks to acquire up to a 20% stake in the private lender through a significant capital infusion. ADVERTISEMENT The stock, which has rallied more than 21% in the past month and over 64% in the past six, rose for an eighth time in nine sessions. It closed Tuesday at Rs 259.95, up 4.6%, with a market value of Rs 15,831.21 crore. The Emirates NBD Bank PJSC is in advanced discussions to acquire a minority stake in RBL Bank through a preferential allotment. This would mark a primary capital infusion into RBL and help the Dubai-government-owned lender deepen its Asia strategy. The deal, still under negotiation, could be similar in structure to the recent SMBC-Yes Bank investment. Emirates NBD may end up holding around 15–20% of RBL's expanded capital base, just below the open offer threshold, pending regulatory approval. That would translate to an investment of approximately Rs 3,166.24 crore. 'However, the deal is likely to take place at a premium to the current price,' people familiar with the matter told The Economic Times. RBL Bank is entirely publicly owned, with several domestic institutions holding modest stakes. Quant Mutual Fund owns 6.65%, Nippon Life India 3.11%, ICICI Prudential Life 1.06% and LIC 1.19%. Mahindra and Mahindra acquired a 3.48% stake in 2023, while Zerodha holds 1.24%. British International Investment exited its 3.82% holding in April. ADVERTISEMENT The Reserve Bank of India in May granted in-principle approval to Emirates NBD to convert its existing Indian branches in Chennai, Gurugram and Mumbai into a wholly owned subsidiary. The Dubai-based bank also recently launched investment banking operations in India.'There is a deep connect between UAE and India, both diplomatic and commercial. The bank has been eyeing opportunities but has not been very keen to buy into NBFCs (non-banking finance companies) unlike some of their peers,' an industry executive told The Economic Times. 'There is also a lot of synergy in wealth and other product distribution.' ADVERTISEMENT RBL Bank, originally set up 70 years ago in Maharashtra, transformed itself into a national player beginning in 2010, focusing on credit cards and microfinance. However, its differentiated asset strategy is considered cyclical and exposed to stress in unsecured the March quarter, RBL Bank's net profit fell 80% sequentially to Rs 68.7 crore, despite a rise in other income to Rs 1,000 crore. Net interest income dropped 2.3% year-on-year to Rs 1,563 crore. ADVERTISEMENT 'Business growth is gaining traction and slippages are expected to normalise by 2QFY26,' Nitin Aggarwal, analyst at Motilal Oswal told The Economic Times. 'Margins will be flattish to lower before it will claw back up. The trajectory is expected to improve starting FY26. The cards business is expected to grow in the mid-single digits.' Despite the stock's recent rally, analysts say it still trades below book value and remains among the most affordable banking stocks in India, with a P/E ratio of over 21. However, sources caution that talks may not result in a deal. The lender is also exploring a capital raise from institutional investors as a fallback. ADVERTISEMENT If successful, Emirates NBD's move will mark the second major investment from West Asia into an Indian bank this quarter. In April, Abu Dhabi Investment Authority and Warburg Pincus committed Rs 7,500 crore to IDFC First Bank. Also read | Emirates NBD eyes RBL Bank stake for India, Asia play (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
26 minutes ago
- Time of India
Russian sanctions bill: US planning to impose 500 per cent tariffs on nations trading with Moscow- How will this impact India?
The United States is planning to impose a 500 per cent tariff on the products of those countries that are still doing trade with Russia. In an interview with ABC News, Senator Lindsey Graham said that he wanted the US to impose tariffs to stop them from supporting Vladimir Putin's war machine. Moscow launched full-scale invasion of Ukraine three years ago on February 24, 2022. "Big breakthrough here. So what does this bill do? If you're buying products from Russia and you're not helping Ukraine, then there's a 500 percent tariff on your products coming into the United States. India and China buy 70 percent of Putin's oil. They keep his war machine going. My bill has 84 co-sponsors. It would allow the president to put tariffs on China and India and other countries to get them -- stop them from supporting Putin's war machine, to get him to the table. For the first time yesterday, the president told me," Graham said. How this will impact India? India has elevated Russia to its primary oil supplier following a substantial increase in Russian crude oil imports in June, exceeding the combined purchases from prominent Gulf suppliers including Saudi Arabia and Iraq. The previous month's imports from Russia stood at 1.96 million barrels per day (bpd). The potential implementation of the US bill could result in extensive 500 per cent tariffs on Indian goods entering America. Nevertheless, India is currently negotiating a trade agreement with the US, which is anticipated to significantly reduce US tariffs on Indian products.
Time of India
30 minutes ago
- Time of India
India's push for zero tariff on labour-intensive exports is combination of economic strategy & domestic politics: GTRI
India is pushing hard for full tariff elimination on labour-intensive exports like garments, footwear, carpets, and leather goods in the final phase of Free Trade Agreement (FTA) talks with the U.S. Without duty-free access, India fears the deal will be politically unsellable. Current U.S. tariffs remain high, and Washington is resisting full reciprocity, raising concerns of an imbalanced deal. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads As negotiations for a long-anticipated Free Trade Agreement (FTA) between India and the United States enter their final stretch, India is making a last-minute, high-stakes push for full tariff elimination on its labour-intensive to Global Trade Research Initiative (GTRI), without duty-free access for sectors like garments, footwear, carpets, and leather goods, the deal could become politically unsellable at home. India's insistence is rooted in a combination of economic strategy and domestic political labour-intensive sectors--dominated by small and medium enterprises and providing critical employment across states like Uttar Pradesh, Tamil Nadu, Gujarat, and West Bengal--contributed over USD 14.3 billion to India's exports to the U.S. in on these goods currently range between 8 per cent and 20 per cent, especially high for garments and footwear, putting Indian exporters at a steep disadvantage in the American India has offered to reduce its Most Favoured Nation (MFN) duties on US goods as part of the deal, Washington appears unwilling to says the US is not ready to scrap either its high MFN tariffs or the country-specific duties that currently stand at 26 per cent, proposing instead a limited reduction to 10 per cent--still a significant surcharge that could negate any meaningful market access for Indian imbalance has raised concerns in India that the FTA, if signed under the current terms, would disproportionately favour American to the tension is the U.S. Congress's lack of fast-track trade authority, which limits Washington's ability to offer broad tariff broader export profile to the U.S. in FY2025 stood at USD 86.5 billion, up 11.6 per cent from the previous year. Of this, medium labour-intensity sectors--such as electronics, chemicals, automobiles, and jewellery--accounted for USD 44.6 exports face moderate U.S. tariffs of 2 per cent to 5 per cent, with some exceptions reaching 7 per cent. Meanwhile, low labour-intensity exports, such as pharmaceuticals and heavy machinery, totalling USD 17.3 billion, already benefit from minimal tariffs below 2 per cent and are not central to India's position is that full tariff elimination is essential not only for equitable trade but also for social goals like employment generation, MSME empowerment, and increased economic participation by negotiators caution that if Washington insists on retaining high tariffs while India cuts its own, the deal risks being perceived as "lopsided and politically untenable."
