Shift from silence to discourse

A DISCLOSURE-BASED REGIME IS MORE THAN TRANSPARENCY: IT'S ABOUT CULTIVATING TRUST

- MS SAHOO SUMIT AGRAWAL

TONGUE-IN-CHEEK DISCLAIMER on a professional’s website asks visitors to click “I agree’, accepting all risks and surprises lurking behind the wall.

In essence, it says, “We are not inviting you, but you are welcome anyway.” Restrained by strict advertising bans, professionals have perfected the art of silent self-promotion, relying on reverse solicitation where clients take the first step. Against this backdrop, the Institute of Chartered Accountants of India’s October proposal to amend its Code of Ethics to permit advertising, albeit within ethical bounds, is a welcome change. Perhaps this will inspire other professions to replace the invitation-only aura with clear, confident outreach, paving the way for homegrown, world-class professional service giants in our expanding service economy.

For decades, professional regulation in India has rested on the belief that visibility equates to impropriety and that professionalism must shun publicity. It may have made sense in a closed, supply-driven economy where professionals served local communities and built reputation through word of mouth. But it jars with the realities of today's integrated, competitive marketplace where professional services power much economic activity and shape a nation’s competitive advantage.

The debate is not simply about whether lawyers, accountants, doctors, and company secretaries should be permitted to advertise; it concerns how India regulates its professions and positions its service economy in a global order that prizes transparency, visibility, and trust.