Former minister urges ICAI Dubai to accelerate innovation and AI adoption as India aims to disrupt traditional industries and achieve developed‑nation status by 2047.
DUBAI: Former Indian minister Anurag Thakur delivered a compelling address at the ICAI Dubai Chapter’s “Future of Audit and Global Consultancies” seminar on 31 August 2025, urging chartered accountants to embrace India innovation AI and transform traditional industries as India pursues its development ambitions for 2047.
Thakur highlighted India’s impressive economic metrics: real GDP grew 7.8 percent to ₹47.89 lakh crore in Q1 of FY 2025–26, compared with ₹44.42 lakh crore in the same quarter last year. India is on a trajectory to become the world’s third-largest economy, projected to reach a GDP of US$ 7.3 trillion by 2030.
He emphasised the pivotal role of AI, noting that India’s AI market is expected to triple to US$ 17 billion by 2027, supported by a vast and growing talent ecosystem. With over 420,000 AI professionals already and plans to double or more, the time is ripe for disruptive change.
Thakur urged Indian professionals and the ICAI to pivot from conventional audit models to technology-driven, multi-disciplinary solutions, positioning CAs not just as business protectors, but as indispensable business enablers. He invoked India’s digital transformations—such as the JAM trinity (Jan Dhan, Aadhaar, mobile) and UPI with over 12 billion monthly transactions—to highlight India’s capacity for digital disruption.
Referencing a World Bank report, Thakur noted that sustaining 7.8 percent economic growth annually over the next 22 years can propel India to high income by 2047. He stressed that reform, investment, job creation, productivity and state-level growth are critical to achieving the country’s ‘Viksit Bharat 2047’ goal.
Thakur concluded by reminding ICAI members that India’s chartered accountants are at the helm of this transformation—empowered to scale globally, grounded in innovation and Indian values.
