Phalagam, August 15 (KNS): The Institute of Chartered Accountants of India (ICAI), in solidarity with the nation and reaffirming its commitment to regional economic development, convened its 445th Council Meeting in Pahalgam, Jammu & Kashmir from August 12–14, 2025.

On this occasion, Jammu & Kashmir Chief Minister Omar Abdullah graced the meeting and expressed gratitude to ICAI for choosing Pahalgam for this landmark event, especially after the tragic incident at Baisaran on April 22.

“Your presence here along with your families is truly encouraging and a testament to the fact that winter is not everlasting, that snows will melt and spring will come. It reflects your belief in this place and sends a powerful message of confidence and support,” the Chief Minister said.

He further noted that the Government of J&K could collaborate with ICAI in several areas to benefit from its expertise, learning from best practices and replicating them for the region’s progress.

CA. Charanjot Singh Nanda, President of ICAI, said the decision to hold the meeting in Pahalgam was a message of resilience, unity, and hope.Click Here To Follow Our WhatsApp ChannelHe highlighted ICAI’s readiness to partner with the J&K Government in accounting reforms, cost optimisation in government departments, curriculum development in universities, and targeted research to support developmental goals.

During the meeting, ICAI presented a research report titled “From Policy to Profit: Amplifying MSME Revenues in J&K through Targeted Government Initiatives” to the Chief Minister, outlining a five-pillar strategy to transform MSMEs into sustainable revenue generators. Another study, “Hope in the Hills: Strengthening MSMEs in J&K through Comparative Policy Innovation”, analysed challenges in tourism and handicrafts, offering globally inspired solutions.

ICAI also announced plans to establish a Centre of Excellence in Jammu & Kashmir to boost capacity building, research, and skill development for members, students, and local stakeholders.

With over 15 lakh members and students, ICAI is the world’s largest professional accountancy body, operating under the Ministry of Corporate Affairs, Government of India, with a presence in 47 countries. (KNS)