Minister invites US taxation firms to work from Kerala
P Rajeeve interacts with experts at US Tax Industry Meet
Trivandrum / July 30, 2023
Thiruvananthapuram, July 30: Kerala’s investment-friendly ecosystem makes the state an ideal offshore destination for the companies in the US taxation industry which is ever increasingly searching for talented and skilled professionals, according to Minister for Law, Industries and Coir Shri P. Rajeeve.
Inviting America’s taxation and accounting companies to set up offices in the south Indian state, he highlighted the quality of Kerala’s human resources in the domain, backed by vibrant education and skilling ecosystem as well as excellent physical and social infrastructure, besides robust connectivity that can make it a preferred investor destination.
Interacting with experts from various companies in the segment on Saturday evening, Shri Rajeeve recapped the state’s achievements in the field. Addressing the ‘US Tax Industry Meet’, Shri Rajeeve said Kerala, in its Industrial Policy 2023, has identified 22 sectors of potential investment, worthy of attractive incentives for investors. “Companies can leverage our amazing talent pool and infrastructure facilities,” he added.
Principal Secretary (Industries) Shri Suman Billa said the state’s ESG-focused Industrial Policy aims to build an Industry 4.0-ready ecosystem by 2027 so as to generate responsible investments and foster innovation across sectors. One of the focus pillars is building futuristic skillsets for employment, he added.
Noting that the state is “rapidly migrating” to a knowledge economy, the senior bureaucrat said Kerala provides access to future-ready skilled workforce.
As for the proposed Global Industrial Finance and Trade (GIFT) City at Kochi, Shri Billa said it will be an integrated centre for innovation and growth with emphasis on boosting fintech and forging alliances with top fintech hubs.
Elaborating on the investment avenues for US Taxation Industry, he suggested joint establishment of innovation labs with universities in Kerala and International Taxation Centre with Gulati Institute of Finance and Taxation. “Dedicated taxation technology parks can be set up in the key cities of Kerala. The US taxation companies will get state-of-the-art infrastructure here,” he added.
Dr Usha Titus, who is the Chairperson and Managing Director of Additional Skill Acquisition Programme Kerala, said the US taxation industry’s presence will enable Kerala’s students to do longer internship. This will in turn provide better access to employable workforce.
The experts, while lauding the initiatives of the government in honing skills of youngsters, noted that the US was facing shortage of skilled professionals in taxation and accounting segment.
According to them, companies are looking for talents, for which they would provide stronger industry-oriented training on the technical side. US firms have started establishing offshore offices in places that have skilled human resources in taxation. They also reiterated on the focus needed on the soft skill side for employees in view of the increased importance of client side dealings.
The interaction was also attended by Moss Adams India Managing Partner Shri Balaji Iyer, Wipfli Director Shri Vinod V, its Finance Director Shri Nagaraja Ramanna, BDO RISE India Managing Director Shri Sourabh Mukherjee, its Executive Managing Director Shri Vishnu Patwari, Grant Thornton Executive Director Shri Sriram Sreenivasan, GR8 Affinity Services Tax Director (India Operations) Shri Aneesh N and Talent Acquisition Leader, Acceleration Centre, Shri Puneet Chandel among others.
