CPA Australia Partners with ASSOCHAM for the Global Summit on Accelerating Value Creation for Sustainable Growth in India

• MoU signed by CPA Australia with ASSOCHAM for continued collaboration in India Region
• Business Technology Report 2024 released during the global summit

CPA Australia, one of the world’s largest professional accounting bodies, in collaboration with the Associated Chambers of Commerce and Industry of India (ASSOCHAM), successfully hosted a landmark global summit on “Accelerated Value Creation for Sustainable Growth: Emerging Cross-Border Trends, Local Issues, and Solutions Ahead” in New Delhi. The event brought together key industry leaders, policymakers, and experts to discuss strategies for cross-border investments, governance, and the evolving financial landscape.

Distinguished industry and regulatory leaders including Shri Mahaveer Singhvi, Joint Secretary (NEST), Ministry of External Affairs, Government of India; Shri Ravi Mital, IAS, Chairperson, The Insolvency and Bankruptcy Board of India (IBBI); CA Ranjeet Kumar Agarwal, President, the Institute of Chartered Accountants of India (ICAI) and Mr. Nicholas McCaffrey, Deputy High Commissioner, Australian High Commission, New Delhi attended the event.

Senior leaders from CPA Australia also attended including Prof. Dale Pinto FCPA (Aust.), Global President and Chair of the Board, and Mr. Chris Freeland AM, CEO. 

ASSOCHAM was represented by Mr. Manish Singhal, Secretary General; Ms. Preeti Malhotra, Chairperson of the National Council for Corporate Affairs, Company Law, and Corporate Governance; and CA (Dr.) Ashok Haldia, Chairperson of the National Task Force for Accounting Standards, Sustainability Accounting, and Integrated Financial Reporting.

Delegates such as Ravi Mittal, Chairperson, Insolvency and Bankruptcy Board of India (IBBI) and Shri Mahaveer Singhvi, Joint Secretary (NEST), Ministry of External Affairs, Government of India, highlighted the importance of cross-borders transitions to drive value creation in the ever-evolving global economy. Other notable guests including Mr. Nicholas McCaffrey, Deputy High Commissioner, Australian High Commission, New Delhi highlighted the growing synergies between India and Australia to create solutions that resonate far beyond borders.

The summit featured two high impact panel discussions focused on navigating cross-border mergers and acquisitions (M&A) and investments toward value creation, as well as building a future-ready economy through evolving governance, risk, and compliance practices. 

The discussions highlighted the increasing role of technology in driving efficiency in the accounting sector and the importance of governance and risk management in sustaining long-term economic growth. Participants actively engaged in conversations about the need for enhanced collaboration in addressing emerging challenges and the necessity of adapting to an increasingly complex global business environment.

Dignitaries at the event, including Ravi Mital, Deputy High Commissioner, emphasized the crucial role of infrastructure investment in India's goal of becoming a developed nation by 2047. Guest of Honour Shri Mahaveer Singhvi, Joint Secretary (NEST), Ministry of External Affairs, highlighted how key reforms have shaped India’s unique position in the global landscape.

Reinforcing its commitment to strengthening industry partnerships and knowledge sharing, CPA Australia strengthened its collaboration with ASSOCHAM through the signing of a Memorandum of Understanding (MoU). Signed by Chris Freeland AM and Manish Singhal, the agreement aims to facilitate the exchange of expertise, promote capacity-building initiatives, and create opportunities for professionals to develop future-ready skills. 

The partnership underscores a shared commitment to fostering innovation, supporting professionals in their career growth, and ensuring alignment with global best practices.

Speaking about the collaboration, Chris Freeland AM, CEO, CPA Australia said, “As the third-oldest professional accounting body in the world, CPA Australia is committed to empowering professionals with the tools, knowledge, and global perspectives they need to navigate today’s complex business environment. With this partnership with ASSOCHAM, we aim to foster innovation, build capabilities, and create opportunities for the next generation of talent.”

Adding on about the success of the event and collaboration with CPA Australia, Manish Singhal, Secretary General, ASSOCHAM noted, “We are delighted with the success of the summit, which brought together industry leaders to drive meaningful discussions on AI, technology, and professional development. We look forward to more such initiatives that foster knowledge sharing and global partnerships.”

As part of its ongoing efforts to provide insights into emerging business and technological trends, CPA Australia launched the Business Technology Report 2024 in collaboration with ASSOCHAM. The report provides key findings on AI adoption, cybersecurity, and digital transformation, reflecting the resilience of businesses in the Indian region. The study reveals that 23 percent of Indian businesses have reported significant AI adoption, a figure that surpasses other surveyed markets. Looking ahead, 73 percent of respondents anticipate increasing their use of AI in 2025, well above the global survey average of 52 percent. Additionally, 60 percent of Indian businesses plan to enhance their cybersecurity infrastructure, exceeding the survey average of 47 percent.

Commenting on the findings, Prof. Dale Pinto stated, "India's rapid adoption of AI and technology highlights the growing need for continuous professional development to build contemporary and interdisciplinary skills for the AI era."

The summit reaffirmed CPA Australia’s commitment to collaborating with industry, government, and professionals to facilitate knowledge sharing, identify evolving industry trends, and empower business leaders with the insights needed to drive sustainable growth. By providing professionals with access to global expertise, cutting-edge tools, and a strong network of industry peers, CPA Australia continues to support the development of a forward-thinking, resilient, and well-equipped business community.

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Carmen Pan
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