India as a global talent hub for accounting and finance professionals

Over the past decade, India has emerged as a key player in the global financial services ecosystem. India has more than 1,700 Global Capability Canters (GCCs) with 2,975 centres, contributing around USD 64.6 billion to the economy and employing around 1.9 million people, with the number only growing year on year. GCCs are established by multinational corporations to handle key business functions such as finance and accounting, increasing the demand for professionals with global capabilities. Interestingly, news reports indicate that the global demand for qualified accountants is increasing globally, especially in the United States, where a significant proportion of the accounting workforce is retiring, creating an acute shortage of skilled professionals. It is said to be occurring. Additionally, India’s economic growth has driven the need for stricter financial reporting and compliance standards. The introduction of global financial reporting frameworks and the rise of multinational corporations (MNCs) operating in India has sharply increased the demand for accounting and finance professionals who meet international benchmarks. But the real challenge lies in providing both current and aspiring finance and accounting employees with the right qualifications and expertise to succeed on a global scale. This is especially difficult in India, where becoming a Chartered Accountant (CA) is highly competitive and the pass rate is less than 15%.

The Rise of Global Licensing and Certification in Accounting and Finance

Global licenses and certifications such as Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Association of Certified Public Accountants (ACCA) are playing a transformative role in closing the skills gap. These qualifications leverage unique skills to give professionals the technical expertise and global perspective needed to succeed in international finance roles. For example, the CPA certification, which is primarily recognized in the United States, is gaining popularity among accounting professionals in India. The CPA designation enables individuals to navigate complex tax and regulatory environments, making them an integral part of global finance teams. India has seen a significant increase in the number of chartered accountant candidates, from 2,000 in 2020 to an estimated 11,000 in 2024, a staggering 450% increase in just four years.

Similarly, the Certified Management Accountant (CMA) certification focuses on management accounting and provides professionals with the skills necessary for strategic financial management. The Association of Chartered Certified Accountants (ACCA), which operates globally, is also a popular qualification for professionals in India. Our focus on IFRS and international taxation allows candidates to work seamlessly across borders.

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These professional licenses and certifications not only increase employability but also enable Indian professionals to compete in the global market and open doors to lucrative career opportunities abroad. As India opens up to multinational corporations and Indian companies expand globally, these skilled professionals are becoming a valuable resource for strategic planning and decision-making roles.

India’s competitive advantage in the global talent market

The Indian education system has a strong foundation in mathematics and commerce, which gives you a natural advantage for a career in accounting and finance. The rise of online and blended learning platforms is further democratizing access to global professional licenses and certifications, giving professionals in Tier II and Tier III cities access to credentials once only accessible in metropolitan areas. Now you can.
India’s ability to adapt to technology is also a big advantage. India’s top talent comes from a strong STEM (science, technology, engineering and mathematics) background and is well-equipped to tackle these challenges.

How can India capitalize on opportunities?

To truly establish itself as a global talent hub, India needs to adopt a multi-stakeholder approach that involves educational institutions, businesses and policy makers. Encouraging global licenses and certifications: Institutions should integrate global certifications and professional licenses such as CPA into their curriculum. We provide students with access to high-quality learning materials and expert guidance to prepare them for international roles.

Corporate collaboration: Companies can play an important role by sponsoring certification programs for existing employees and creating internship opportunities that provide hands-on experience in global finance roles. can.

Government support: Initiatives like India’s National Education Policy (NEP) emphasize skill development and employability. Aligning these goals with the needs of the financial sector will create a skilled workforce capable of meeting global challenges.

Leverage technology: Online learning platforms and virtual internships can bridge the accessibility gap and enable remote talent to compete on the world stage.

India is poised to become a global hub for financial talent, with a young workforce and growing demand for globally recognized professional licenses. To realize this potential, India must address skills gaps, improve access to quality education, and align training to industry needs for a qualified workforce. By embracing global standards and fostering cooperation, India can strengthen its leadership in the global financial landscape.