With high paced growth in industrial sector, India will need at least 50,000 company secretaries (CS) by 2020, Institute of Company Secretaries of India (ICSI) said on Sunday. According to data released by ICSI, there has been over 70% growth in students enrolment for CS programme in last few years.
“Lately, we have seen a huge surge in the students enrolling for CS programmes, which means enormous number of students now are opting to become CS,” president of ICSI Vinayak Khanvalkar said.
He said that with growth in industrial sector, role of CS is becoming increasingly important and therefore there is also shortage of CSs in the country.
According to him, CS would play vital role in corporate restructuring, cross border insolvencies, mergers and amalgamations, international tax planning and arbitration and dispute resolution, indirect taxation and a host of other avenues in the corporate ladder.
“In recent years, ICSI has introduced various initiatives like career orientation programmes for youngsters, professional development programmes and research projects,” he said.
Presently, there are 22,000 CS either working as employee of big industrial houses or practising independently in the country, ICSI said.