India Set to Require 1 Lakh Company Secretaries by 2030 Amid Economic UPSURGE

India will need about 1 lakh company secretaries by 2030 as economic growth and focus on good governance increase. Currently, there are over 73,000 company secretaries. The Institute of Company Secretaries of India (ICSI) is taking steps to attract young talent, and the finance sector expects to aid this growth.

India will need around 1 lakh company secretaries by 2030 as economic growth accelerates and the focus on good governance intensifies, according to the Institute of Company Secretaries of India (ICSI).

At present, over 73,000 company secretaries are registered, with about 12,000 actively practicing. These professionals are crucial in ensuring companies comply with various statutory requirements.

ICSI President B Narasimhan highlighted the significant role of company secretaries in propelling India to become a top investment destination. Narasimhan noted a paradigm shift in the perception of India's economy, which is projected to reach USD 7 trillion by 2030.

To attract more young talent, ICSI has initiated direct enrollment for graduates and postgraduates into their executive programme. Additionally, the institute has introduced secretarial standards to ensure uniform corporate governance practices across boards.

(With inputs from agencies.)