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Hyderabad, Jan. 24

AIMED at taking advantage of the emerging opportunities in the areas of business process outsourcing, the Andhra Pradesh Government proposes to further strengthen the infrastructure facilities in the State for attracting trade and industry, the Chief Minister, Dr Y.S. Rajasekhara Reddy, said.

Stating that the Government recently initiated steps towards 160 kilometre-long eight-lane outer ring road project in Hyderabad, the first of its kind in the country, the Chief Minister said efforts were also on to ensure adequate drinking water to the twin cities through second phase of Krishna project in the next nine months.

Dr Reddy was addressing a gathering of chartered accountants on the eve of laying foundation stone for the Centre of Excellence of the Institute of Chartered Accountants of India (ICAI) in the Financial District on the city outskirts here on Tuesday.

The ICAI President, Mr Kamlesh S. Vikamsey, said the Centre of Excellence, first of its kind in the country, would be operational in the next 12 months. The institute would initiate measures to set up similar Centres of Excellence in major cities across the country in the coming years.

Stating that the country has emerged as the second largest in chartered accountancy profession, overtaking the UK, Mr Vikamsey said India is set to emerge as global leaders in the segment in the next 5-6 years.

ICAI Centre of Excellence

: According to the ICAI Central Council Member, Mr Shantilal Daga, the Rs 12-crore Centre of Excellence is projected to provide cutting edge knowledge facilities for conducting programmes, projects and research in the diverse fields of finance, accounting and auditing.

(This article was published in the Business Line print edition dated January 25, 2006)
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