ICAI holds 445th council meeting in Pahalgam
‘Stands with nation and Kashmiris’
Srinagar, Aug 15: The Institute of Chartered Accountants of India (ICAI), in solidarity with the nation and as part
of its commitment to regional economic development, convened its 445th Council Meeting in
Pahalgam, Jammu & Kashmir from 12th
-14th Aug. 2025.
On this occasion, Chief Minister Omar Abdullah
graced the council meeting and expressed his gratitude to the ICAI for choosing Pahalgam for
such a landmark event and reposing trust in the J & K government after the horrific incident
at Baisaran on April 22.
While addressing the Council Omar Abdullah said, “Your presence here has a lot of weight, you have come here along with your spouse and
children, this is truly encouraging. On behalf of all my colleagues and everybody just want to
say what a pleasure and a privilege it is to be able to have all of you here. Your presence here
is truly a testament to that, that winter is not everlasting, that it has to end, that snows have to
melt and that spring will come. Your presence reflects your belief in this place and sends a
powerful message of confidence and support.”
He further added, “No government is a repository of all knowledge and the ICAI and the
On this occasion, CA. Charanjot Singh Nanda, President, ICAI said, “ICAI stands firmly in
solidarity with the people of Jammu & Kashmir, which is why we chose Pahalgam as the venue
for our 445th Council Meeting. In the aftermath of the recent incident, our presence here is a
message of resilience, unity and hope. We are not just financial architects; we are proud
partners in nation-building. By holding our prestigious Council Meeting in this picturesque
valley of Pahalgam, we aim to reaffirm our commitment to its economic revival, promote its
vibrant tourism and contribute meaningfully to the growth and prosperity of Jammu &
Kashmir. We extend our sincere gratitude to the Government of Jammu & Kashmir for their
invaluable support, cooperation and encouragement during our visit.”
Further, the President, ICAI, proposed collaborative initiatives between ICAI and the
Government of Jammu & Kashmir, stating, “We have expertise in accounting, consulting,
assurance and most importantly cost optimisation. If cost saving is approached with utmost
seriousness in the Govt. Depts, it can lead to significant savings. ICAI can undertake a detailed
exercise to identify ways to curtail costs in J&K government initiatives. We can also support
accounting reforms in local bodies, implement accrual-based accounting in government
departments and enter into MoUs for curriculum development to enhance the quality of
education in J&K universities. Additionally, we can also conduct research on any subject to
further your developmental objectives.”
CA. Prasanna Kumar D, Vice-President, ICAI, added, “It is truly a moment of pride that we
had our 445th Council Meeting, a milestone that reflects ICAI’s legacy of excellence,
independence & integrity and moreover, hosting this meeting in Pahalgam holds special
significance as it reflects our national solidarity and commitment to Kashmir’s development.
While we have achieved much, there is still more to accomplish, and with the unwavering
support of my Council colleagues and the guidance of our President, I am confident we will
continue to explore new horizons in the years ahead.”
During the Council Meeting, CA. Charanjot Singh Nanda, President, ICAI also presented a
research report titled “From Policy to Profit: Amplifying MSME Revenues in J&K through
Targeted Government Initiatives” to the Chief Minister. This report presents a
comprehensive assessment of key MSME-related schemes in the Union Territory of Jammu &
Kashmir and offers a practical, five-pillar strategic roadmap to transform MSMEs into
sustainable revenue generators.
In addition to this, ICAI has also undertaken a research project titled “Hope in the Hills:
Strengthening MSMEs in Jammu & Kashmir through Comparative Policy Innovation”.
