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IICA Webinar Explores Future Corporate Governance for ‘Viksit Bharat’ by 2047

New Delhi: The Indian Institute of Corporate Affairs (IICA), operating under the Ministry of Corporate Affairs (MCA), conducted a webinar titled ‘Viksit Bharat: Corporate Governance for 2047’ on March 7, 2024. The event, featuring around 300 participants including Independent Directors and corporate professionals, aimed to discuss the future of corporate governance in India aligning with the vision of achieving Developed Nation status by 2047 as envisioned by the Prime Minister.

Manoj Pandey, Additional Secretary of MCA, inaugurated the webinar, highlighting recent progressive steps to enhance corporate governance and emphasizing the continued importance of governance to meet the ambitious 2047 target. Praveen Kumar, Director General & CEO of IICA, outlined the webinar’s objective, emphasizing the critical role corporate governance plays in India’s growth trajectory.

The panel discussion featured industry experts, including Gopal Krishan Agarwal, Board Member, Bharat Petroleum Corporation Ltd; Ms. Karuna Gopal, Board Member, Engineers India Ltd; and Veni Thapar, Board Member, Bank of India. They shared insights on key aspects of corporate governance that have gained recent focus and will require ongoing attention.

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

The interactive panel discussion addressed participant questions, fostering engagement and a deeper understanding of the subject.

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 commitment to fostering dialogue and advancing corporate governance excellence in alignment with the national vision of ‘Viksit Bharat’ for 2047. The event concluded on a positive note, with a shared commitment to elevating corporate governance standards to meet the future challenges and opportunities.

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