Respected Chairperson and esteemed members of the ICAI Oman Chapter, financial leaders, and friends.

A very warm and proud Chartered Accountants Day to you all. It is highly fitting that we gather here in Muscat to celebrate this landmark day. I have been told that the ICAI Oman Chapter has long been a shining beacon of professional excellence, proving that the Indian CA qualification carries a stamp of global authority. Today, we are not just celebrating an accounting credential. We are celebrating our role as trusted global value creators.

We speak at a moment of unparalleled economic strength. Back home, the Indian economy has just clocked an exceptional 7.7% GDP growth rate for the 2025–2026 fiscal year, solidifying its position as the world's fastest-growing major economy. Inflation is under tight control, and private investment capital formation is surging at over 10%. This robust economic momentum provides the perfect launchpad for Indian professionals to lead, innovate, and expand across international borders."

"This macroeconomic strength finds its perfect partner right here in the Sultanate through a truly historic milestone: the India-Oman Comprehensive Economic Partnership Agreement (CEPA), which officially took effect on June 1, 2026.

This agreement is a monumental structural shift for bilateral commerce. It instantly grants Indian goods zero-duty access on 98.08% of Oman’s tariff lines, supercharging an economic relationship that already witnessed trade crossing $11.18 billion last year. Oman is no longer just a vital trade partner; it is now India's strategic commercial gateway to the entire GCC region and East African supply chains.

But as Chartered Accountants, the most critical aspect of CEPA is not the movement of cargo—it is the mobility of professional services. This agreement radically alters the landscape for our profession:

1. Extended Professional Visas: The permitted stay for contractual service suppliers has been vastly extended from 90 days to up to two full years, with clear provisions for further extensions.

2. 100% Foreign Ownership: Indian accounting, taxation, and consulting firms can now establish corporate entities with 100% foreign direct investment right here in Oman, operating seamlessly within the local economy.

3. Mutual Recognition Pathways: It lays down the regulatory framework to streamline cross-border professional qualifications, easing compliance barriers for financial experts.

This is the infrastructural bridge that connects Indian analytical intellect with Omani strategic capital."

"This brings us to the core theme of our modern era: Harnessing Human Capital through Tech Innovation.

We hear endless narratives about how generative AI, automated ledger systems, and predictive algorithms will replace the financial professional. Let us correct that narrative today. Technology does not destroy our value; it filters out the mundane and elevates the premium on human intellect. AI can process a million transactions in a second, but it cannot exercise ethical skepticism. It cannot negotiate a complex cross-border merger, and it cannot provide visionary corporate governance.

Human capital remains the ultimate appreciating asset on any balance sheet. In this tech-driven frontier, our role is to merge algorithmic precision with human intuition. As financial architects, we must use technology to automate compliance, freeing our cognitive bandwidth to focus on strategic advisory, risk mitigation, and sustainable growth.

By investing heavily in continuous tech up-skilling, we transform our teams from traditional backward-looking auditors into forward-looking data strategists. We must leverage cloud-based financial ecosystems and advanced data analytics to help Omani and Indian enterprises capitalize on the real-time trade advantages offered by CEPA."

Dear members of the ICAI Oman Chapter: you are the vital boots on the ground execution team for this bilateral vision. You are India’s premier brand ambassadors in the Sultanate.

With CEPA fully active, your corporate responsibilities have doubled. Businesses need your specific expertise to navigate the complex new Rules of Origin (RoO), optimize cross-border tax structures, and maximize supply chain efficiencies through Oman’s world-class logistics hubs in Sohar, Duqm, and Salalah.

As a localized chapter of a global CA community that spans over 50 countries, we must continue to build institutional capacity. We must mentor young professionals entering the Gulf market, foster deep collaborative ties with the Omani business community, and actively contribute to the economic localization and diversification goals of Oman Vision 2040. Our reputation for absolute integrity and relentless work ethic is what makes the Indian CA the preferred choice for global boards."

"Distinguished colleagues, an economic agreement like CEPA is merely a legal framework on paper. It takes human intellect, technological innovation, and bold leadership to turn that framework into economic realities.

Let us move decisively beyond the traditional columns of the balance sheet. Let us pledge to harness the true power of our human capital, embrace the cutting-edge technological tools at our disposal, and champion the incredible trade corridor now open between India and Oman.

The stage is set, the technology is ready, and the corridor is wide open. Let us step forward together and architect the future of global business.

Thank you, Shukran, Jai Hind, and a very Happy Chartered Accountants Day!"