India is emerging as a hub of immense potential and possibilities as far as the finance and commerce sectors are concerned. Ever since the Liberalization of the economy almost two decades ago, the country has witnessed a growth in investment in the domestic market as well as the ability of many Indian businessmen and even of the Government of India to invest in fiscal projects in the economies of other countries in the event of a joint venture. This has necessitated the training and emergence of competent investment managers and financial analysts, who are able to not only aid and advise prospective investors but also are able to correctly ascertain the development and the nature of emerging trends within the financial market. This article at hand shall take a look at the prospects of the possibility of getting a Chartered Financial Analyst Charter Holder from India in the next half decade.
In India, a number of courses exist which can be said to mirror some of the key concepts one would encounter while studying for the CFA course, which is further augmented by the presence of a lot of business schools and institutions imparting commercial knowledge throughout the length and breadth of the country. So there is no dearth of educational opportunities for prospective CFA candidates, as most of these courses impart the fundamentals of investment analysis and financial management through one way or the other.
Formerly, the Institutes of Chartered Financial Analysts of India used to award the CFA Charter to the students who were a part of the Institute’s CFA course. However, this caused a protracted legal battle with the CFA Institute based in America. A mutual resolution was established in 2012 to end this long-standing dispute, where both the parties entered into an agreement where the ICFAI would cease awarding CFA Charters. This agreement would allow the coexistence of both institutions and would allow each to pursue their individual business objectives, letting the ICFAI to retain its brand but on the condition that it phases out the CFA designation over the course of the next few years.
As far as recognition of the CFA is concerned then there might be some amount of awareness about what it is and which institution in the globe offers such a course. However, it does seem like not many may know about the CFA Institute or the CFA Charter itself, except for those students who have been associated with the ICFAI and know what the CFA Charter is all about. Recognition for this world renowned course can be done over the course of the next five years by creating a series of public relation campaigns with the objective of creating the sufficient amount of awareness that is necessary in order to attract more and more Indian students into applying for a CFA course, which would in turn create a cyclical process where successful CFA holders from India can motivate other people to display an interest for possessing a CFA Charter.
As we have briefly talked about in the introduction to this article, India has not only managed to attract a plethora of foreign investment but it has also managed to become one of the biggest contributors to investing in foreign nations as well. As such, anyone who is a Chartered Financial Analyst would have plenty of occupational opportunities in India as well as at places where Indian investment is the talk of the town. Therefore, the labour market for prospective CFA holders is on the rise and existing CFA holders do have an advantage over any other job seeker in the financial market at the moment.