In accordance with its G20 commitments, India has published and notified under Indian law a number of standards that are largely converged with IFRS.  However, the Indian Ministry of Corporate Affairs (MCA) is yet to announce the implementation date of the standards.

The Institute of Chartered Accountants of India also continues to expose and recommend amendments and additions to these standards to incorporate IASB developments.

The TRAI study paper provides a overview of the IFRS convergence process in India.  It includes a discussion of IFRS, their Indian counterparts (Ind AS), and common differences between the two and existing applicable Indian Accounting Standards.  It then provides a specific technical analysis of the impact of adopting Ind AS on telecommunications companies, discussing such topics as customer connection revenue, multiple-element earnings processes, and customer incentives.  It also discusses specific Indian regulatory issues.

The study paper is available the TRAI website.