
India’s booming economy and increasing focus on corporate governance are driving a significant rise in demand for company secretaries. According to the Institute of Company Secretaries of India (ICSI), the country will need around 100,000 company secretaries by 2030.
Current Scenario
At present, there are over 73,000 company secretaries in India. Out of these, approximately 12,000 are actively practicing. Company secretaries play a crucial role in ensuring that companies comply with various legal requirements, making them vital to the corporate governance framework.
A Changing Economy
B Narasimhan, President of ICSI, highlighted that there has been a major shift in how the Indian economy is viewed globally. Company secretaries have become key players in this transformation, helping to make India one of the top investment destinations worldwide. Narasimhan shared this insight during a recent conversation with PTI, where he projected the need for 100,000 company secretaries by 2030.
Growing Demand
The ICSI currently adds over 2,500 new members each year. With India’s economy expected to reach $7 trillion by 2030, the demand for company secretaries is set to rise even further. A finance ministry report released in January this year suggested that India’s economy could grow at a rate above 7% in the coming years, thanks to the financial sector and ongoing structural reforms.
Attracting Young Talent
To meet this growing demand, the ICSI has introduced several initiatives to attract younger talent into the profession. One such initiative is the direct registration of graduates and postgraduates into the company secretary executive program. Additionally, the ICSI has implemented secretarial standards to ensure uniformity in practices across corporate boards.