The Indian Institute of Corporate Affairs (IICA), an autonomous institution of the Ministry of Corporate Affairs (MCA), organised a webinar on ‘Viksit Bharat: Corporate Governance for 2047’ on March 7, 2024. The webinar witnessed interactive participation from around 300 participants comprising Independent Directors and corporate professionals, focusing on the future of corporate governance in India and its alignment with the Prime Minister's vision of achieving Developed Nation status by 2047.

The webinar was inaugurated by Shri Manoj Pandey, Additional Secretary, MCA. Shri Pandey highlighted the progressive steps taken in recent years to strengthen corporate governance in India and emphasised the importance of continued focus on governance to meet the ambitious target set for 2047.

Shri Praveen Kumar, Director General & CEO of IICA, outlined the objective of the webinar, underscoring the critical role of corporate governance in the country's growth trajectory in the upcoming years.

The panel discussion featured industry experts Shri Gopal Krishan Agarwal, Board Member, Bharat Petroleum Corporation Ltd; Ms. Karuna Gopal, Board Member, Engineers India Ltd, and Ms. Veni Thapar, Board Member, Bank of India. They shared their insights on various aspects of corporate governance that have been in focus recently and will require continued attention in the future.

Shri Gopal Krishan Agarwal discussed the importance of future-ready boards, governance and corporate purpose, and the protection of stakeholder interests. Ms. Karuna Gopal delved into emerging topics like Diversity, Equity and Inclusion (DEI), sustainable business practices, and women's leadership in the corporate sector. Ms. Veni Thapar highlighted the significance of financial discipline, integrity & ethics, the role of independent directors, and the need for transparency and accountable governance.

The panel discussion was interactive, with several questions from participants being addressed by the experts, which was well-received by the audience.

Dr. Niraj Gupta, Head of the School of Corporate Governance and Public Policy at the Indian Institute of Corporate Governance, moderated the webinar and panel discussion. In his closing remarks he reiterated IICA’s continued commitment to fostering dialogue and advancing corporate governance excellence to support the national vision and commitment towards Viksit Bharat.

Corporate governance: future-ready boards and transparency prioritized with emphasis on DEI and independent directors to support national development vision. The webinar emphasised strengthening corporate governance to support the national development vision by promoting future-ready boards, protecting stakeholder interests, and integrating sustainable business practices. It stressed the role of independent directors in ensuring transparency, accountability, integrity and financial discipline, and the need to advance DEI and women's leadership as part of governance reforms, while committing to continued capacity-building and dialogue to advance governance excellence.