ICSI apex body estimated that India required around 1 lakh company secretaries by 2030 amid rising economic growth and increasing focus on good governance.
Interestingly there are more than 73,000 company secretaries in India currently and out of the total, around 12,000 are practising company secretaries.
The role of company secretaries is in the corporate governance framework in ensuring compliance of companies with various statutory requirements.
Institute of Company Secretaries of India (ICSI) President B Narasimhan said there has been a paradigm shift in the way the country’s economy is perceived today and company secretaries have essentially become a significant linchpin in making India one of the most preferred investment destinations of the world.
India will need around 1 lakh company secretaries by 2030
he told PTI during a recent interaction.Every year ICSI gives membership to over 2500 candOn an average, the ICSI gives membership to over 2,500 people every year.
It is estimated that India is expected to become a USD 7 trillion economy by 2030.
It is eminently possible for the Indian economy to grow in the coming years at a rate above 7 per cent on the strength of the financial sector and other recent and future structural reforms… under a reasonable set of assumptions with respect to the inflation differentials and the exchange rate, India can aspire to become a USD 7 trillion economy in the next six to seven years (by 2030),” a finance ministry report said in January this year.
The company secretary is attracting young talent into the profession by direct registration of graduate and PG
Among other initiatives, ICSI has introduced secretarial standards to bring uniformity in the secretarial practices followed across corporate boards.