ICSI Expands Global Footprint: Plans New Centres in Hong Kong, Japan, and South Korea
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ICSI plans overseas centres in Hong Kong, Japan and South Korea
The institute has six overseas centres in UAE, US, UK, Singapore, Australia and Canada. Narasimhan said that the new overseas centres in the three places are being planned on the basis of the strength of ICSI members in these countries. "These centres will augment professional opportunities for the ICSI members, besides assisting and facilitating practical training for students and conducting examinations in these countries," Narasimhan said. He said ICSI is laying great thrust on companies to become ESG (environmental, social and governance) compliant in the coming days. ICSI has already added two new subjects to its curriculum, ESG and artificial intelligence (AI), he said. "ESG is the need of the hour. It has been made mandatory by SEBI to submit business responsibility and sustainability reporting (BRSR) for the top 1000 companies in terms of market capitalisation. These companies are required to disclose their ESG performance along with the annual reports," he said. Narasimhan said companies which are ESG compliant will get noticed by foreign investors. "Foreign investors will enquire whether the Indian company in which they plan to invest are ESG compliant. The 'stewardship code' for institutional investors is still in its infancy in the country and gives immense scope for company secretary professionals to expand their scope of practice," he said. He said that there is a huge dearth of company professionals in the country with only 70,000 members, out of which 14,000 are practising. PTI dc NN
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ICSI planning to set up three more international centres
Kolkata: The Institute of Company Secretaries of India (ICSI) is planning to set up three more international centres and increase the total number company Secretaries to 1.5 lakh in 2047 from 73,000 now, ICSI President B Narasimhan said on Friday in Kolkata. "The proposed three overseas centres of ICSI in all likelihood will be opened in Hong Kong, Japan and South Korea. The institute already has six existing overseas centres in UAE, US, UK, Singapore, Australia and Canada," Narasimhan said. The Institute also announced two mega conferences--ICSI Middle East Conference on 4-5-6 September 2024 in UAE's Abu Dhabi and 52nd National Convention of Company Secretaries on 8-9-10 November 2024 in Mumbai. UAE and UK have a huge number of professionals, people in the know said. With an eye towards India's focus on Vikshit Bharat, the professional body of Company Secretaries ICSI is planning to set up the new international centres based on the strength of ICSI members in these new locations. Narasimhan spoke about the role of Company Secretaries in building a vibrant India under Viksit Bharat, with an eye towards 2047. He then emphasized on how the ICSI is committed to fostering a culture of Good Governance and is building capacities of professionals alongside expanding its presence globally. The body is also emphasizing the need on companies to become ESG (environmental, social and governance) compliant in the coming days. ICSI has already added two new subjects to its curriculum, ESG and Artificial intelligence (AI) keeping in line the modern changing technologies and industry needs, Narasimhan said. The Institute has around 73,000 members and about 2 lakh students on its roll. The 5th National Conference of Corporate CS of the Institute of Company Secretaries of India (ICSI) was inaugurated in Kolkata today on the theme Corporate CS: Transforming Governance for Viksit Bharat. The event is set to witness Leaders from trade and industry, senior corporate professionals, corporate directors, senior officers from the government, and other stakeholders who will deliberate on the following technical sessions spanning two days. The main issues will include SEBI LODR: Latest Amendments, Issues & Clarifications, Framework and Trends for ESG Reporting, Digitizing Governance: Building Efficacy and Thought Leadership: Changing Board Dynamics.
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The Institute of Company Secretaries of India (ICSI) is set to establish new overseas centres in Hong Kong, Japan, and South Korea, aiming to enhance global recognition of the CS profession and support Indian professionals abroad.
ICSI's Global Expansion Initiative
The Institute of Company Secretaries of India (ICSI) has announced plans to establish new international centres in Hong Kong, Japan, and South Korea. This strategic move aims to expand the global footprint of the institute and promote the Company Secretary (CS) profession on an international scale
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.Current International Presence
ICSI already maintains a significant international presence with centres operating in London, Dubai, and Singapore. The addition of these three new centres in East Asia will further strengthen the institute's global network and support for Indian professionals working abroad
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.Objectives of the Expansion
The primary goals of establishing these new centres include:
- Enhancing global recognition of the CS profession
- Providing support to Indian professionals working in these countries
- Facilitating knowledge exchange and best practices in corporate governance
ICSI President Manish Gupta emphasized that these centres will serve as crucial points of contact for Indian company secretaries employed in multinational corporations in these regions
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.Timeline and Implementation
While specific dates for the launch of these centres have not been disclosed, the ICSI has indicated that the process is already underway. The institute is currently in talks with relevant authorities in the respective countries to establish these new international outposts
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.Impact on the CS Profession
The expansion is expected to have several positive outcomes for the CS profession:
- Increased international recognition and credibility
- Enhanced networking opportunities for Indian professionals
- Access to global best practices in corporate governance
- Potential for knowledge sharing and collaborative initiatives
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ICSI's Role and Responsibilities
As the premier professional body for company secretaries in India, ICSI plays a crucial role in setting standards for corporate governance and compliance. The institute is responsible for the regulation and development of the profession of company secretaries in India
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.Future Prospects
This expansion aligns with India's growing economic influence on the global stage. As Indian companies continue to expand their international operations, the demand for skilled company secretaries with knowledge of international corporate laws and governance practices is likely to increase. ICSI's global network will be instrumental in meeting this demand and supporting the professional growth of its members
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