Can Today's Advanced Accounting Solutions Unlock Business Potential?
As the world becomes increasingly digital and technological, India's accounting sector has observed a significant shift from traditional to technologically advanced. In the early 2000s, the industry was quite fragmented and relied on traditional methods, with only limited technological integration and skills that did not reach the international stage. However, the sector is poised for remarkable growth today as it aligns with global standards, positioning India as a significant supplier of accounting services world wide.
A key factor driving this transformation is the upskilling of Indian workers through initiatives such as the Skill India Mission and the National Skill Development Corporation (NSDC). These programs provide professionals with access to new financial systems. Additionally, government initiatives like the Digital India campaign and the Unified Payments Interface(UPI) have revolutionized financial services across the nation. The implementation of advanced technologies, including artificial intelligence, machine learning, and blockchain, has significantly accelerated the growth of the accounting industry. According to NASSCOM, these innovations have improved accuracy by 30 percent and reduced processing times, enabling more efficient and reliable financial reporting. As a result, Indian companies have realized substantial efficiencies and cost savings in their operations. Similarly, global companies benefit from outsourcing accounting functions to India.
The accounting industry is one of the largest in India, with over 400,000 chartered accountants and a similar number of cost and management accountants. This workforce is expected to drive the next phase of growth in the sector, with projections indicating a CAGR of over five percent from 2024 to 2029, solidifying India's position as a global leader in accounting services. Through this current edition, ‘International Accounting Firms in India – 2025’ siliconindia has come up with a list of firms that have exemplified the industry with their keen services.
Do read to know more and share your valuable feedback!
A key factor driving this transformation is the upskilling of Indian workers through initiatives such as the Skill India Mission and the National Skill Development Corporation (NSDC). These programs provide professionals with access to new financial systems. Additionally, government initiatives like the Digital India campaign and the Unified Payments Interface(UPI) have revolutionized financial services across the nation. The implementation of advanced technologies, including artificial intelligence, machine learning, and blockchain, has significantly accelerated the growth of the accounting industry. According to NASSCOM, these innovations have improved accuracy by 30 percent and reduced processing times, enabling more efficient and reliable financial reporting. As a result, Indian companies have realized substantial efficiencies and cost savings in their operations. Similarly, global companies benefit from outsourcing accounting functions to India.
The accounting industry is one of the largest in India, with over 400,000 chartered accountants and a similar number of cost and management accountants. This workforce is expected to drive the next phase of growth in the sector, with projections indicating a CAGR of over five percent from 2024 to 2029, solidifying India's position as a global leader in accounting services. Through this current edition, ‘International Accounting Firms in India – 2025’ siliconindia has come up with a list of firms that have exemplified the industry with their keen services.
Do read to know more and share your valuable feedback!
