The Association of International Accountants (AIA), the global body for professional accountants today (21 March) welcomed the launch of the ‘India and the Northern Powerhouse Report’.
The launch, attended by AIA representatives, was hosted by Shadow Cabinet member and Leeds North East MP Fabian Hamilton and took place at the House of Commons in Westminster.
The report highlights strong connections between the Republic of India and the United Kingdom and points to future engagement and collaboration, building upon a trade mission participated in by AIA and organised by The Federation of Asian Business (FAB) and the North East Growth Hub in November 2017.
The report encourages further exchange between India and the UK through trade, investment, tourism and educational links. Drawing on an extensive diaspora network, November’s trade mission drew together disparate groups and stimulated lasting conversations about future collaboration.
AIA recognises the key challenges and opportunities unlocked by trade with India and has worked over a number of years on initiatives with the UK Department for International Trade, TheCityUK India Market Advisory Group, India-UK Financial Partnership and North East England Chamber of Commerce to build new links and relationships with colleges and universities in India and expand the uptake of AIA’s Professional Qualification, diplomas and other qualifications.
AIA Head of Development, Sharon Gorman, attending the launch on behalf of the Association, commented: “AIA is delighted to support the launch of today’s report and recognises the economic potential offered by a partnership between India and the UK’s Northern Powerhouse. More specifically relating to financial services, AIA continues to support the convergence of Indian Accounting Standards and International Financial Reporting Standards over the next five years and build links for the global profession.”