Moving away from its earlier stance, the Institute of Chartered Accountants of India on Friday said it was ready for opening up of the sector provided there was reciprocity and removal of non-tariff barriers in developed countries.
"We are ready to open up but we want reciprocal opening up of foreign countries for our professionals apart from removal of barriers like visa restrictions and recognition of our certificates," Sunil Goyal, president ICAI, told reporters on the sidelines of a conference to launch a new course.
There should be mutual recognition for each other's degrees and the opening up should be on fair ground, he said adding "We should also get something in return".
Pointing at the non-tariff barriers imposed by some developed countries, he said some of them did not even grant visas to ICAI professionals to undertake tests for their certification, a pre-requisite for practising in that country.
India currently does not permit foreign direct investment in accountancy services sector. Foreign service providers are also not allowed to undertake statutory audit of companies in India.
Countries are to submit their revised offers in services at the world trade organisation by May 31 2005.
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