The growth and global acceptance of Indian finance professionals has reached an all-time high, as businesses worldwide recognise their expertise in accounting, auditing, and financial management. With India producing some of the most highly skilled finance professionals trained in U. GAAP, IFRS, advanced financial technologies, and STEM (Science, Technology, Engineering, and Mathematics)-focused accounting expertise, demand for Indian accountants has surged across major international markets.
Whether in the US, Canada, Australia, or emerging financial hubs like Singapore and the UAE, Indian professionals are increasingly sought after for their technical proficiency, adaptability, and STEM accounting acumen. The combination of globally recognised qualifications, bilingual capabilities, and strong analytical skills has positioned India as a key talent supplier to the global finance ecosystem.
The US accountant shortage: A growing crisis
As of 2024, nearly 75% of Certified Public Accountants (CPAs) in the US were nearing retirement, leading to a projected shortage of approximately 300,000 accountants over the next decade. This crisis is expected to worsen as the demand for accounting professionals continues to outpace the supply of qualified candidates.
The ageing workforce is compounded by several factors, including a lack of interest in the accounting profession among younger generations, increasing regulatory complexity, and the growing demand for specialised skills in areas like data analytics, ESG reporting, cybersecurity compliance, and STEM accounting.
Furthermore, the increasing automation of routine accounting tasks has shifted the need for accountants to more strategic, higher-value roles, requiring advanced technical skills and STEM-driven business insight.
Firms are struggling to fill critical roles in audit, tax, and financial reporting, leading to intensified competition for skilled professionals. As a result, salaries for accountants surged by 21% in 2023, reflecting the urgent need for qualified talent, particularly those equipped with STEM accounting expertise.
Opportunities for Indian Finance Professionals
India has long been a global hub for accounting talent, with professionals holding internationally recognised certifications like the CPA, CMA, and ACCA.
As the US grapples with an ageing workforce and a talent shortfall, companies are actively opening doors for Indian finance professionals. Many American corporations are now streamlining hiring processes, offering direct sponsorships, and expanding offshore accounting operations in India to tap into this skilled workforce. The rise of specialised finance roles is also creating diverse career pathways for Indian professionals.
Fields such as forensic accounting, ESG (Environmental, Social, and Governance) compliance, and blockchain-based financial audits are emerging as high-demand areas. Additionally, with AI and automation transforming traditional accounting functions, Indian professionals skilled in financial analytics and tech-driven accounting solutions are finding lucrative opportunities in global firms.
At the same time, India’s booming Global Capability Centres (GCCs) are creating significant opportunities at home. The GCC market is expected to exceed $100 billion in the next five to seven years, fuelling demand for finance professionals in audit, taxation, risk management, and compliance. This trend has positioned India as not just a talent exporter but also a growing financial powerhouse.
Navigating immigration and policy challenges
While the demand for Indian professionals in the US is substantial, the changing landscape of immigration policies has made securing opportunities more challenging. Stricter visa regulations and an increasingly competitive H-1B lottery system have limited the number of foreign professionals entering the US workforce.
These policy shifts have prompted many companies to explore alternative hiring models, ensuring that Indian accountants continue to have pathways into global firms.
Despite these challenges, major US firms, including PwC, Deloitte, EY, and KPMG, continue to actively recruit Indian finance professionals. Many companies are now leveraging intra-company transfers, offshore finance teams in India, and hybrid work models to ensure access to top-tier Indian talent.
Additionally, several firms have established dedicated recruitment programmes, offering sponsorships for CPA and CMA-certified professionals, making Indian accountants a preferred choice for filling crucial roles in audit, taxation, and compliance. As a result, Indian professionals remain indispensable to the global accounting workforce, whether through direct employment in the US or working remotely for multinational firms with global finance hubs.
India’s growing finance sector: A compelling alternative
While the US offers exciting opportunities for finance professionals, India’s financial sector is rapidly expanding, creating a wealth of opportunities for accountants to build successful careers closer to home. The country has witnessed a surge in IPOs, with 298 companies going public in the past year, leading to a significant demand for financial professionals. Additionally, the rise of domestic financial services, fuelled by government-backed internship programmes and increasing foreign investment, is positioning India as a strong contender for finance professionals seeking career growth locally.
For aspiring accountants, this shift presents a pivotal decision, whether to pursue global opportunities or leverage India’s growing financial ecosystem.
Strategic career pathways, including certifications like the CPA (Certified Public Accountant) or CMA (Certified Management Accountant), are increasingly valuable, particularly for professionals aiming for high-impact roles. A CPA qualification is crucial for securing positions in public accounting, taxation, audit, financial reporting, and advisory services, making professionals highly sought after by Big Four firms, multinational corporations, and Fortune 500 companies.
Similarly, the CMA credential is in high demand for cost management, strategic financial planning, and performance analysis, with companies looking for finance leaders who can drive business decisions. To maximise opportunities in both local and international markets, candidates should strategically plan by gaining relevant experience in Global Capability Centres (GCCs), or finance outsourcing hubs while ensuring they meet CPA eligibility requirements.
With India's finance sector on the rise, professionals can seize the opportunity to thrive domestically while tapping into the growing global demand for highly skilled accountants. By leveraging their global qualifications and staying informed on market trends, they can successfully navigate both international and domestic opportunities. Whether pursuing a career abroad or within India’s booming economy, the key to success lies in adaptability and strategic career planning.
With the right expertise and proactive approach, Indian professionals can secure fulfilling, high-impact roles in today’s competitive finance landscape.
(Sripal Jain is the Co-Founder of Simandhar Education. Views expressed are his own.)
