The Confederation of Indian Industry, under the leadership of Sanjiv Bajaj, chairman of CII’s Corporate Governance Council and also the Chairman and Managing Director of Bajaj Finserv, is actively engaged in crafting corporate governance guidelines tailored specifically for family businesses.
In a recent event held in Mumbai, Bajaj highlighted the distinctive nature of India’s business landscape, predominantly steered by family-owned enterprises. He emphasized the need for focused discussions on enhancing corporate governance within this sector and hinted at the imminent release of guidelines addressing these concerns.
Addressing attendees at the 17th Annual Corporate Governance Summit in Mumbai on April 2, Bajaj shared the platform with distinguished figures such as Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (Sebi), R. Dinesh, President of CII and Chairman of TVS Supply Chain Solutions, and Chandrajit Banerjee, Director General of CII.
During the summit, CII also unveiled its Corporate Governance Charter for startups. Bajaj underscored the significance of this charter, stating that it would provide startups with a framework to evaluate their progress in their corporate governance journey.
At the recent Startup Mahakhubh event in New Delhi, Amitabh Kant, G20 Sherpa and former CEO of NITI Aayog, emphasized the crucial role of startups in India’s ascent in the global economy. Kant stressed the necessity for startups to establish new benchmarks in corporate governance and financial management, leaving no room for any shortcomings.
On the other hand, Madhabi Puri Buch, Chairperson of SEBI, highlighted the significant capital influx into Indian capital markets, amounting to Rs 10.5 lakh crore over the past 12 months. Buch pointed out the predominant focus on equity markets, acknowledging the importance of not overlooking the contributions of the bond market to the Indian economy.
During the event, Buch also shed light on SEBI’s priorities, revealing that nearly 44 percent of the regulator’s efforts are directed towards facilitating ease of doing business and fostering development. She emphasized that despite the critical nature of these initiatives, they often tend to receive less attention in media coverage due to their non-controversial nature.
Source: moneycontrol.com