Corporate India : Governance Interlinks

The Corporate India emerged as Essential Partner in A Process of Indian Socio-economic Growth and Development

With the advent of 21st Century, Corporate India role’s and practices will drastically robust by Integration with World Market Trade. The Economic reforms in 1991, adds a new growth phase of corporate India.

Although Corporate India envisions for Good Governance, Transparency,Better Enforcement of Regularities, Reduction in corrupt practices, Adoption of Good practices, and Clear Legal Procedures. It plays catalyst role in Make-In-India policy framework &Stabilizing the economic growth to make it in double digits.

Corporate Governance is a system of enhancing the trust &confidence among stakeholders while intact the Socio-economic principles towards company objectives. The corporate governance practices enhancing the sustainable approach towards company objectives to meet sustained growth &stability over a long term of period. It refers to beyond the company laws which is defined as blend of law, regulation and and appropriate voluntary private sector practices which enables the corporation to attract financial and human capital, perform efficiently and thereby perpetuate itself by generating long term economic value for its stakeholders, while respecting the interests of stakeholders and society as a whole.

The advocacy of Corporate Governance is a subject of prime concern in present scenario, as its impedes impact directly towards the economic goals.

Although its non-viable to laid down of corporate governance rules but its viable to make key points on it. The following points to be ensure :

• Directors should be accountable towards share-owners, and management accountable to directors.
• Information about companies must be readily available &transparent to permit accurate market comparisons
• All investors must be treated equitably and upon the principle of one-share/one vote.
• Capital market in which shares are issued and traded should adopt its own Code of Best Practices
• Corporate directors and management have a long-term strategic vision  at its core.
• Standardization to be adopted in corporate practices for better global communications.

Essentials of Good Governance

• Quality and clarity of norms

• Enforcement systems and structure processes

• Dialogue and discussion and awareness

Factors affecting governance

• Integrity of the Management

• Ability of the board

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