Over the last ten years, finance education in India has seen remarkable growth. Universities have welcomed more students, broadened their course catalogs, and demonstrated clear ambition. However, a critical evaluation against international professional credentials and the actual demands of the global workplace reveals significant shortcomings that need addressing.
The Theory-Practice Divide in Curriculum
Sripal Jain, Co-founder of Simandhar Education, who has trained thousands for exams like the Certified Public Accountant (CPA), observes that while intent is strong, structural issues persist. He acknowledges the progress made by Indian institutions but points out a core limitation: the teaching methodology itself.
"The biggest gap I feel is the practical implementation of the concepts," Jain states. He explains that global finance certifications, designed to be completed within a year, are intensely focused on real-world application. Students engage with industry cases, problem-solving exercises, and scenarios that mirror actual workplace challenges, fostering a hands-on, solution-oriented mindset.
In contrast, the majority of undergraduate and postgraduate commerce degrees in India still heavily privilege theoretical instruction. Exposure to live projects, applied financial analysis, and industry simulations remains limited. While elite business schools like the IIMs and ISB have integrated this practical approach into their MBA programmes, Jain notes that the broader commerce education stream has not kept pace.
Missing Global Perspective and Tech Integration
Another critical shortfall is the lack of a robust global context. In today's interconnected world, finance is governed by cross-border capital flows, international taxation, and multinational compliance regimes. Jain argues that many Indian university programmes continue to focus predominantly on domestic accounting standards and local regulations, leaving students underprepared for the global stage.
"Finance is a dynamic, ever evolving field," he says. Students need deeper immersion in international financial reporting standards, cross-border taxation complexities, and global compliance practices. Jain suggests that strategic partnerships with international universities and firms could provide this essential exposure.
Concurrently, a glaring curriculum gap exists in technology. The global finance sector is rapidly being transformed by automation, artificial intelligence (AI), blockchain, and data analytics. These are no longer niche skills but fundamental tools for financial modelling, auditing, and risk management.
Jain emphasizes that Indian institutions must proactively embed these digital skills into the core finance curriculum, rather than treating them as optional add-ons. "The Indian institutions need to equip themselves with the technology and the necessary digital skills that will make them tech savvy and competitive in the global context," he advises.
The Path Forward: A Transition in Progress
The situation, however, is not static. Jain recognizes a positive shift underway, with a growing number of universities initiating changes. There is an increasing trend towards industry collaborations, integrating pathways to global certifications, and developing more digitally-oriented syllabi.
"We have seen universities taking steps in this direction," he notes, citing a "growing recognition" of the imperative to align with global benchmarks. He frames this as an ongoing journey rather than a finished reform.
Indian finance education, in his assessment, is at a crucial inflection point. The opportunity to close the gap with global standards is present, but it hinges on decisive structural changes. Universities must rebalance their curricula to give practice equal weight with theory, treat global finance as the essential baseline, and fully embrace technological integration. The future competitiveness of India's finance graduates on the world stage depends on it.
