The Institute of Chartered Accountants of India (ICAI), Singapore Chapter, hosted the second edition of its Business Leaders Forum (BLF) on September 25 at the iconic Shangri-La Hotel — a venue deeply intertwined with India’s story in Singapore.
Over the years, Shangri-La has been the chosen setting for Republic Day celebrations, official visits by Indian dignitaries, and landmark community gatherings. It was therefore a fitting choice for an evening that brought together business and finance leaders from Singapore, India and across ASEAN for thought leadership and collaboration.
It was a delight to see accountants — the serious custodians of numbers and governance — in their most welcoming avatars, coming together in a warm, convivial atmosphere. The evening opened on a stirring note with the ICAI motto song in Sanskrit.
Much like a doctor’s oath, this anthem is a solemn reminder of the values that Chartered Accountants hold dear and strive to uphold in their professional lives. It was both surprising and reassuring to witness this tradition being observed with such sincerity so far from home — a reflection of the deep-rooted ethos that binds the global CA fraternity.
As the first woman President of the ICAI Singapore Chapter, Anuradha Shroff brings both vision and momentum to the organisation’s flagship initiatives. Speaking about the idea behind the Business Leaders Forum, she explained that the goal was to create a space where Chartered Accountants and other professionals could move beyond the traditional boundaries of finance.
“The forum reflects ICAI’s vision of connecting professionals globally and demonstrating how CAs can drive business transformation, innovation, sustainability, and investment,” she told Connected to India.
Ever Burgeoning India–Singapore Business Corridor
The ICAI Singapore Business Leaders Forum unfolds against the backdrop of a vibrant and fast-deepening economic corridor between India and Singapore. In FY 2024–25 alone, bilateral trade between the two nations stood at USD 34.29 billion, as per India Brand Equity Forum, underscoring Singapore’s role as one of India’s most significant trading partners.
Beyond trade, Singapore has firmly established itself as India’s top source of foreign direct investment (FDI) for the seventh consecutive fiscal year. Between April 2000 and March 2025, cumulative FDI inflows from Singapore into India reached USD 174.89 billion, accounting for nearly a quarter of India’s total FDI during this period. A point repeated with a lot of passion for the Guest of Honour for the evening Suresh Prabhu, six time Member of Parliament, a Chartered Accountant and currently the founder and chancellor of the Rishihood University.
Asked what role the Indian diaspora and NRI community play in increasing the business between Singapore and India, Prabhu told Connected to India, “I’ve seen the huge impact the diaspora has in the countries that you live in, and of course, beyond. For example, the diaspora sends back to India USD 130 billion a year. No other country in the world issues so much remittances.”
“So that’s the role of diaspora going beyond their own country where they reside. Therefore, this is a huge part of it. It is a soft power of India. So, I think we should try to work together,” the former cabinet minister added.
In FY 2024–25 alone, Singapore invested USD 14.94 billion, a figure that reflects both economic trust and the strength of institutional ties between the two countries.
These numbers speak to more than just economic exchange—they point to a thriving ecosystem of capital, talent, innovation, and shared ambition, which forums like BLF are uniquely positioned to nurture. By convening business leaders, investors, and Chartered Accountants, the Forum amplifies this momentum, enabling professionals to explore new areas of collaboration across finance, technology, and sustainable growth.
Business Leaders Forum by Institute of Chartered Accountants of India (ICAI), Singapore Chapter
At the same time, the event aims to highlight the role of Indian-origin accountants in Singapore’s business ecosystem. “BLF helps connect India-origin professionals with Singapore and ASEAN networks, showcasing their leadership stories and building Indo-Singapore ties,” Shroff noted.
Looking ahead, she sees the Forum expanding in both scope and influence. ICAI Singapore hopes to introduce sector-specific sessions, mentorship tracks, startup engagement, and greater collaboration with government and academia. The goal, Shroff said, is for BLF to become a go-to regional leadership summit where business and policy conversations converge.
This year’s theme, “Empowering Business Leaders in a Transformative Era,” reflected shifts in the global economy. Discussions covered leadership, innovation, artificial intelligence, ESG and investment strategy. Shroff pointed out that the agenda is shaped not only by industry trends but also by feedback from members, ensuring relevance for both finance professionals and wider leadership circles.
The Forum has already begun producing tangible outcomes. Since its first edition, it has sparked advisory collaborations between firms in Singapore and India, mentorship links between senior and younger professionals, and ICAI’s involvement in regional policy dialogues. “The participation this year only deepened those networks and opened doors for new initiatives,” said Shroff.
She also underlined the broader leadership role Chartered Accountants play today. “CAs are now part of corporate boards, C-suites, governance strategy and transformation initiatives,” she said. Their combination of analytical skills, ethical grounding and business insight makes them valuable beyond finance.
ICAI – The Singapore Chapter
ICAI Singapore itself has come a long way since its founding in 2009. With ICAI being one of the world’s largest accounting bodies, the Singapore Chapter has grown into a vibrant professional community, recognised by both business leaders and policymakers. Its members, Shroff observed, contribute significantly to sectors like banking, consulting and fintech in Singapore while also acting as a bridge to India by driving trade, investment and innovation exchanges.
The Chapter is equally focused on nurturing future leaders. Through mentorship, workshops, and platforms like BLF, younger professionals are connected to global trends and leadership opportunities. “We want to ensure that the next generation of CAs is future-ready,” Shroff said.
The 2025 edition of BLF featured an impressive line-up of speakers, including Standard Chartered’s James Lye, ICAI President Charanjot Singh Nanda, Committee for Members in Business Chairman Anuj Goyal, and former Union Minister Suresh Prabhu, who attended as Chief Guest.
In just two years, the Business Leaders Forum has evolved into a meaningful connector of ideas, people and opportunities — a role ICAI Singapore aims to strengthen further in the years ahead.
