Coimbatore, once known as the Manchester of South India, and later as an ‘ideal IT destination' is likely to emerge as a ‘research hub for accountancy in India'. The Institute of Chartered Accountants of India (ICAI) has identified the city for setting up its residential campus – ‘Centre of Excellence'.

The proposed centre here would the institute's second CoE in the country. (ICAI has a CoE in Hyderabad).

Land identification process has just commenced. The institute is looking to acquire 5-10 acres of land in a prime locality.

The Chairman of the Coimbatore Branch of ICAI, Mr K. Jalapathi, told Business Line that the land would be identified soon. “May be within the next month or so,” he added.

He maintained that he was not in the know of the budgeted outlay for the establishment of CoE here. “It will be on par or even better than the facility in Hyderabad, considering that it was the institute's maiden project. Besides Coimbatore, ICAI has plans of setting up at least a dozen such centres across the country,” he said.

‘The CoE has been planned not only to provide campus training to students and professionals but also serve as a research hub for accountancy in India. “The centre will also help meet the demands of neighbouring countries for training their accountants,” Mr Jalapathi said. Reverting to the Coimbatore branch, he said, “We will be moving to the new premises in Thudiyalur on Mettupalayam Road in about three months. It is a 34,000 sq feet facility, established on an outlay of Rs 8 crore (inclusive of land cost).”

The branch here was established in 1962 with 60 members. It has grown to over 1,350 members at present.

Mr Jalapathi said that the branch would focus on student-related activities – organising seminars, lecture meetings, residential courses, IT training programmes and so on for the benefit of students and members

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