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VISAKHAPATNAM: The role of a cost accountant is becoming increasingly important, as the Indian industry is striving to become cost-effective and competitive, Mr I.S.S Ganesh, General Manager, Bharat Heavy Plate and Chemicals, has said.

Addressing students of the Institute of Cost and Works Accountants of India here on Sunday at a seminar on turning around sick units, he said the conventional tools such as cost benefit analysis and break-even analysis may not be sufficient and they would have to hit upon innovative methods of cost-cutting based on new technologies. "The profession has become more demanding," he said.

Mr S. Satyananda Rao, Chairman of the Visakhapatnam chapter of the institute, said that in the next two or three years two lakh cost accountants would be required for the industry in the country. At present, he said, there were only 30,000.

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