ICAI Kuwait Chapter and Al Mulla Exchange conducts Indian Budget Seminar

Wednesday, July 24, 2019

The Institute of Chartered Accountants of India (ICAI), Kuwait Chapter, along with Al Mulla International Exchange Company (AMIEC) co-hosted an exclusive event ‘Indian Budget 2019’. The event was exclusive for members of the ICAI Kuwait Chapter and esteemed guests of AMIEC. CA Hormuzda Davar, Managing Director – Trading, Manufacturing & Financial Services Group, Al Mulla Group, and Past Chairman of ICAI Kuwait welcomed the esteemed gathering. CA Sai Devata, the Chairman of the ICAI Kuwait Chapter gave the audience a brief overview of the ICAI, and the activities of the Chapter in Kuwait. The panel of speakers, CA R Bupathy, former President of ICAI, Mr. Pankaj Pandey, Head Research, ICICI Securities and Mr. Nilesh Mundra, COO, ICICI Investments were then introduced to the audience.

Mr. Pandey gave a macro view of the budget and the sectors which are likely to benefit by the proposals in the same. His hypothesis was backed by relevant data and was well received by the audience. CA R. Bupathy being an authority on Indian taxation presented his insights amongst other aspects on the taxation implications on individuals and corporates and also clarifying the implications the budget has for nonresident Indians. Mr. Nilesh Mundra’s presentation focused on the potential investment opportunities that might arise based on the current market scenario and the budget initiatives which the government intends to focus on, going forward.

These sessions were followed by a Q&A session where the panel clarified queries raised by the attendees.

The ICAI Kuwait Chapter also announced its 1st International Conference to be held on 22nd November 2019.

The evening concluded with Mr. R. Shankar, General Manager Al Mulla International Exchange Company proposing a vote of thanks, followed by a sumptuous dinner hosted by AMIEC.


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