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Nowadays, the global firms (primarily U.S.) are turning to India for their accounting talent. So, this shift is rising costs, reflecting a global talent shortage, managing flexibility, and focusing on technological efficiency.
CPAs and accounting are under increasing pressure. The talent shortage, rising operational costs, and strict deadlines make it hard to stay competitive in the industry. Outsourcing is a cost-saving option that streamlines multiple operations. So, India has become the chosen destination for outsourcing bookkeeping and accounting services. Global CPA firms can save money by outsourcing their work to India. For commerce students in India and globally, understanding the reason for the shift can open the doors to informed planning and global careers.
Key Takeaways:
- India has a large number of growing professionals for the accounts pipeline.
- India meets global compliance standards with advanced technology.
- The firms have dramatically offshored the key accounting roles.
- The students can clear the pathways for global accounting careers.
Professional Accounting Ecosystem of India
India has built the largest accounting workforce in the world. According to the BPO Journal, the Institute of Chartered Accountants of India (ICAI) currently has over 430,000 active chartered accountants (CA). This is making the largest body after AICPA in the U.S. The ICMAI has 98,500 active members and about 750,000 students who receive training.
India is producing thousands of CAs annually for finance and CA graduates. There is a deep pool of talent that exceeds 1 million per year. According to The Times of India, ICAI’s president announced in June 2025 that India will need about 5 million new CAs by the end of 2050. This step will meet the global and domestic demands. Moreover, they are launching AI-focused training tools like CA-GPT.
Accounting Market of the U.S.: Demand Outpaces Supply
The U.S. Bureau of Labor Statistics reported that 1,562,000 auditors and accountants were employed in 2023, and in May 2024, the wage reached $81,680. The projection of employment was planned to grow 6%, which is faster than average.
The number of active accountants declined roughly 10% between 2019 and 2024. This was shrinking the U.S. pipeline for mid-level staff and new entrants. As per Reuters, the U.S. accounting firms ask for help from India to provide new talent from their country.
Currently, according to Data USA’s report, about 1.171 million auditors and accountants, with a projected growth of 5.85% over 10 years.
Why Are Worldwide Companies Choosing the Accountants of India?
There are some reasons that India is the best place for accounting and a preferred destination for countries worldwide. Here are some reasons:
- Cost EfficiencyShifting the roles in India, the accounting firms have saved 20-60% in accounting and finance costs. These statistics include overhead, lower wages, and infrastructure expenses.
- Technological Capabilities India is the best place for accounting because the firms here are equipped with strong data security standards that meet SOC 2, ISO 27001, encryption, GDPR compliance, and strict access control. There are some cloud accounting tools such as Xero, QuickBooks, and Tally.
The OCR invoice processing, A-Driven reconciliation, and RPA automation engines are the fruit of Indian technology, which is the reason global countries are connecting with India.
- Access to Skilled Talent According to sources, about 10 million bookkeepers and accountants are skilled in the U.S. with GAAP, corporate tax, IFRS, and GST compliance. Various Indian professionals hold the degree of ACCA (IFRS/YK). CPA (U.S.) and CMA credentials by increasing global compatibility. Many firms are sponsoring the certifications in India.
- Language and Time-Zone BenefitsAbout 12.5 hours, as per the time in the Eastern U.S., the firms enjoy productivity and accounting cycles. Some teams in India are proficient in English and familiar with Western business practices.
- Scalability and ResilienceThe Global Capability Centres (GCCs) in India allow the firms to scale up rapidly during periods of high demand in a tax season. The overseas delivery centres ensure business continuity if the firm faces domestic disruptions.
Trend Data and Market Scale
According to Deloitte, about 60% of enterprises outsource the accounting and finance functions. Over 50% of accountants are outsourced to India. Indian accounts have grown the global FAQ market, according to industry estimates and KPMG. The global market for outsourced services is projected to reach USD 81.25 billion in 2030. India has always remained the dominant destination for managing talent, cost, and infrastructure.
The domestic and professional services market, including advisory, audit, and compliance services, is estimated at USD 19 billion by 2030. The technology-enabled and digital services comprise over 55%.
Policy Framework & Government Support in India
India’s institutional environment supports the future growth of the commercial market. The National Skill Development Corporation (NSDC) falls under the Ministry of Skill Development and Entrepreneurship. This may promote the funds with scalable skills and vocational training programs.
According to the Economic Times, the government of India launched Pradhan Mantri Kaushal Vikas Yojna (PMKVY) to train millions of people to get secure jobs. This scheme has created training sessions for youth with vocational credentials. SEBI, RBI, and NFRA continue to strengthen ESG reporting. Audit standards and fraud analytics are also increasing assurance services and forensic accounting.
Real-World Growth and Firm Examples
In April 2025, U.S. companies like Moss Adams, RSM US, CohnReznick, and Sikich will have expanded various operations in India to fill the talent gap in the U.S. The RSM plans can grow with the Indian headcount from ~2,000 to over 5,000 by 2027. There are some famous Indian companies, such as EY, Deloitte, PwC, and KPMG, that collectively have employed 140,000 professionals in India for delivering tax, audit, and work based on digital finance. India is hosting about 1650 Global Capability Centres that will deliver USD 50 billion in FY 2023 to 2030.
Significant Opportunities for Commerce Students
The commerce students plan careers in the current landscape of accountancy. In the current landscape, the global career pathways are being used to recruit staff directly on the campus of India. You will find most of the CMA, ACCA, and CPA professionals and the firms that sponsor them with U.S. visa support for foreign studies and work. These professionals are found in Pune, Chennai, Hyderabad, Bangalore, Delhi, and Mumbai.
The residential internships at Indian GCCs expose the students to GAAP, the tax system, IFRS, AI tools, and cloud systems in the U.S. There are various technical skill developments that the professionals deal with in the accounting software, such as SAP, QuickBooks, Tally, IDRS, GAAP, cloud systems, and tax systems.
Challenges and Management
According to the BPO Journal India, the global firms manage data security risks that are certified with ISO 27001, SOC 2, rigorous internal control, and legal agreements. To manage the quality control, the firms apply regular audits and SLA-driven procedures with KPI tracking to deal with the quality team.
The challenges are based on various DIY tools such as QuickBooks, Zoho Books, and Tally. This deals with complex, forensic, and advisory compliance services.
Bottom Line
The global firms are turning towards India to seek their talented accounting professionals because there are shortages in the U.S. and cost efficiency. India benefits from strong professional associations, supportive government policies, and a young workforce to follow the global standard. For every accountancy student, the dynamism presents a powerful opportunity for pursuing certificates, internships with international firms, and training.
Summary
India has become the global leader in accounting services with professional infrastructure (ICMAI, ICAI), cloud, cost advantage, supportive government programs, and the best AI capabilities. For various students, the moment is ripe to develop technical skills in response to the global demand.
Frequently Asked Questions
How many auditors and accountants are employed in the U.S?
In 2023, about 1.58 million auditors and accountants are working with the projected growth that will be developed through 2033.
What type of services are outsourced to India?
Some typical functions include AP/AR, bookkeeping, tax compliance (GST tax), forensic accounting and audit, and management accounting.
How many chartered accountants are there in India?
According to ICAI, about 430,000 active members in ICMAI report on the data on 98,500 students
Which technology skills are most important for accounting?
There are various professional and vocational training programs, such as PMKVY and NSDC.
Is it easy for Indian students to get a job with U.S. firms?
Yes, there are global firms that recruit directly from Indian campuses that sponsor ACCA or CPA programs and onsite roles to facilitate remote work.
What is the future outlook for the students of accounts in India?
With the help of international demand growth, the trained students with the tech skills and certifications have access to global roles. The GCC centre and remote finance deal with the financial services for the prospects of professional development. This can deal with the finance management in future.
