The prestigious two-day “IPO and Tax Summit 2026”, jointly organized by the Bombay Chartered Accountants’ Society and The Auditors’ Association of Southern India, was inaugurated today at Residency Towers in the presence of leading industrialists, entrepreneurs, Chartered Accountants, tax professionals, startup founders, academicians and students.

The inaugural event was attended by L. Kamesh – Secretary, TAASI, S. Venkatesh – President, TAASI, Zubin Billimoria – President, Bombay Chartered Accountants’ Society, Survajith – Chairman, ICAI Coimbatore & Committee Member, TAASI, and Mahesh Prabu – Treasurer, TAASI.

The Chief Guest for the inaugural function was CA G. Ramaswamy, Past Chairman of the ICAI, who addressed the gathering and emphasized the importance of continuous professional learning, ethical governance and financial discipline in the rapidly evolving business environment.

He highlighted that India is witnessing significant transformation in areas such as capital markets, taxation, compliance and digital governance, making it essential for professionals and industries to remain updated and future-ready. He appreciated the efforts of BCAS and TAASI in bringing a national-level technical summit to Coimbatore and stated that such initiatives would greatly benefit industries, entrepreneurs and young professionals in the region.

The summit marks a significant collaboration between two of India’s most respected professional institutions, both having a legacy of over 100 years in contributing towards the growth of the accounting, auditing, taxation and financial ecosystem of the country.

Addressing the media during the inaugural press briefing, CA Zubin Billimoria stated that Coimbatore has today emerged as one of India’s fastest-growing entrepreneurial and industrial centres with strong presence in manufacturing, engineering, textiles, healthcare, exports, information technology and startups.

He observed that many family-managed businesses and MSMEs in the region are entering a transformational phase where they are looking at structured growth, institutional investments, governance reforms and capital market opportunities including IPOs. In such a scenario, awareness on financial structuring, taxation, compliance and succession planning becomes highly essential.

He further stated that the objective of the summit is to bring practical, industry-oriented and nationally relevant professional knowledge to Coimbatore so that businesses and professionals in the region can prepare themselves for the next phase of economic and corporate growth.

According to him, knowledge-sharing initiatives conducted by institutions like BCAS and TAASI would play a vital role in bridging the gap between industry and professionals while also creating better awareness among young Chartered Accountants and entrepreneurs.

Speaking at the press briefing, CA S. Venkatesh stated that the collaboration between the century-old Bombay Chartered Accountants’ Society and The Auditors’ Association of Southern India would make a significant contribution towards professional excellence and industrial growth.

He noted that Coimbatore is steadily moving beyond traditional industries towards global growth, with many companies now showing interest in areas such as IPOs, international expansion, corporate restructuring and succession planning.

In this context, he emphasized that awareness regarding FEMA, GST, Direct Taxation, Private Trust structures, corporate governance and IPO preparedness has become increasingly important.

“Our association, established in 1940, has members across South India. We believe that this summit will help further strengthen and enhance the professional capabilities of our members,” he said.

He further stated, “This summit provides an opportunity to learn industry best practices and technical insights. Apart from Chartered Accountants and industry experts, legal professionals, academicians and experts from various other sectors are also participating in the event.”

He highlighted that Coimbatore today is witnessing rapid industrial expansion and increasing entrepreneurial activity across sectors including textiles, engineering, manufacturing, exports and technology-driven businesses. Many traditional enterprises are now exploring expansion through institutional funding, strategic restructuring and succession planning.

He further noted that the summit has been curated to provide practical guidance on critical subjects such as IPO readiness, FEMA regulations, GST litigation, Direct Tax developments and private trust structures, which are becoming increasingly important for businesses aiming for sustainable and compliant growth.

According to him, bringing eminent national speakers and technical experts to Coimbatore would significantly benefit professionals, corporates, MSMEs, startups and students while enhancing the city’s reputation as a major commercial and professional hub in South India.

The summit features expert-led sessions on IPO preparedness and corporate governance, merchant banking and valuation perspectives, succession planning through private trusts, FEMA and outward remittance regulations, GST litigation and Input Tax Credit issues, Direct Tax updates and practical case studies, and E-Way Bill issues and proceedings under Sections 129 & 130.

Speaking about taxation, he said that while there have not been major changes in Income Tax, GST has now attained stability. He added that there are only a few implementation-related challenges remaining, which are expected to be resolved gradually.

He also mentioned that across India, 174 training programmes and 44 advanced training sessions on Artificial Intelligence technologies have been conducted for Chartered Accountants, which would help simplify and improve their professional work.

Further, he stated that opportunities have now emerged for professionals to work for international companies while operating from India itself.

Referring to the newly formed Tamil Nadu government, he expressed hope that the government would control inflation and implement welfare-oriented measures for the benefit of the people.

He also observed that wars and global conflicts have affected economic stability across countries, and India too has experienced its impact. Since gold is not an essential commodity, he remarked that there is no necessity to purchase it unnecessarily, echoing the Prime Minister’s earlier observations.

“Any government that increases free welfare schemes excessively may face economic challenges. Instead, the government should focus on strengthening industries. The move to close TASMAC liquor outlets in Tamil Nadu is welcome. The resulting revenue loss can be compensated through industrial development and economic growth,” he said.

He further stated that as industries expand, government revenue through GST would naturally increase. The establishment of large industries would also lead to the growth of ancillary and small-scale industries, thereby generating employment opportunities, improving living standards and increasing purchasing power among people.

Therefore, he urged the Tamil Nadu government to take strong initiatives to attract large industries and investments into the State.

The organizers informed that the event has received an enthusiastic response from Chartered Accountants, tax practitioners, corporates, entrepreneurs, industrial associations, startups and students from across Tamil Nadu and neighboring states.

The summit is expected to create greater awareness on emerging regulatory and financial developments while fostering stronger collaboration between industry, professionals and the business community.