The Institute of Chartered Accountants of India (ICAI) has unveiled an ambitious roadmap to expand its professional workforce to 30 lakh Chartered Accountants by the year 2047. A cornerstone of this vision is a massive drive to train all members in Artificial Intelligence (AI), a move aimed at enhancing their capabilities to support the burgeoning Micro, Small, and Medium Enterprises (MSME) sector, a critical engine of the Indian economy.
The transformative announcement was made by ICAI President, CA. Charanjot Singh Nanda, at the recent MSME & Startup Conclave 2025 held in Mumbai. He emphasized the pressing need to augment the number of CAs to meet the demands of a rapidly growing economy. “We need 30 lakh CAs by 2047,” stated President Nanda, highlighting the current ratio of just 5 lakh CAs for a population of 1.4 billion.
Recognizing the disruptive and enabling power of technology, the ICAI has established a dedicated AI committee to spearhead the integration of artificial intelligence into the accountancy profession. The initiative is already in motion, with over 16,000 Chartered Accountants having received AI training between July 2024 and February 2025. This training is not limited to domestic professionals but is also being extended to CAs working abroad.
“Artificial intelligence is here to support us. It is an enabler. We have the vision to take things forward,” President Nanda remarked, positioning AI as a tool that will augment human intelligence, not replace it. To further this digital transformation, the ICAI has also launched innovative AI-powered tools for its members, including the popular CA-GPT.
A key objective of this large-scale upskilling is to empower CAs to provide more robust and strategic support to the MSME sector. Contributing significantly to India’s GDP, MSMEs are often in need of expert financial guidance. To bridge this gap, the ICAI has launched MSME clinics across all its 179 branches nationwide. These clinics will offer pro bono services to at least 25,000 MSMEs, providing crucial assistance on matters of finance, governance, and access to loans.
This comprehensive strategy underscores the ICAI’s commitment to not only future-proofing the accountancy profession but also to actively participating in India’s economic development. By equipping its members with cutting-edge AI skills, the ICAI aims to create a new generation of financial professionals who can drive efficiency, transparency, and growth in the MSME sector, thereby contributing to the nation’s ambitious economic goals for 2047. The increased frequency of CA examinations, now held thrice a year, is another step towards accelerating the entry of qualified professionals into the workforce to meet this growing demand.