A Corporate Unity March has been organized to disseminate unity of Corporate India towards inclusive development, good corporate governance and responsible business conduct, in the spirit of National Unity on the celebration of birth anniversary of ‘Sardar Vallabh Bhai Patel’. The Corporate Unity March has been organised by the Indian Institute of Corporate Affairs (a think tank under the Ministry of Corporate Affairs). The Corporate March was held on 29.10.2021 at 10:30 AM at the Indian Institute of Corporate Affairs, Sector-5, IMT Manesar, Distt. Gurugram, Haryana. It was flagged-off by Hon’ble Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh. The Corporate Unity March promoted the aspects of ‘Responsible Business Conduct’ and ‘Good Corporate Governance’.

Director General & CEO of IICA Shri Manoj Pandey welcomed Hon’ble Minister and the corporate representatives in his inaugural address. Dr Niraj Gupta, Head Corporate Governance, and Ravi Raj Atrey, Programme Manager, IICA organised and coordinated the Corporate Unity March.

Hob’ble Minister of State for Corporate Affairs, Shri Rao Inderjit Singh addressed the gathering, he elaborated that key focus area and commitment of the Ministry of Corporate Affairs has been on promoting Responsible Business Conduct and Good Corporate Governance as part of ease of doing business. The Ministry has launched National Guidelines for Responsible Business Conduct (NGRBC), and has also taken various regulatory and governance initiative to promote Good Corporate Governance including a portal for Independent Directors and promoting the e-Governance. To recognise good efforts of Corporates the Ministry has also launched National Corporate Social responsibility (CSR) Awards in twenty different sub-categories.

Hob’ble Minister of State for Corporate Affairs, Shri Rao Inderjit Singh remembers the poor status of business and corporate sector in the country after independence. He further mentioned the key initiatives and steps taken in facilitation and promotion of business and entrepreneurship in the country for attaining the state of Atmanirbhar Bharat. He emphasized that after Independence in 1947, the social responsibility was only the duty of the government to provide various social and infrastructure related services for the rapid development of the country and growth of economy. However it is imperative for the companies to realize their responsibility towards the stakeholders and contribution in inclusive and equitable development of the society.

The gathering was also addressed by Shri Nagendra D. Rao, President, The Institute of Company Secretaries of India (ICSI), Shri Pawan Yadav, President IMT Industrial Association, and Shri Rajeev Garg, Regional Head, Bombay Stock Exchange (BSE) and Mr Arun Kumar Gupta, President, Manesar Industry Welfare Association.

About 500 corporate representative from different corporate houses participated in the Corporate Unity March.

To achieve higher growth rates of 9-10% and more, women who constitute 48% of the country’s population must participate in the work force. ‘Every Man and Women’ must have equal access to education and employment to strive for inclusive and sustainable growth, Rao Inderjit Singh, Union MoS (I/C) for MOSPI and Planning and Union MoS for Corporate Affairs at an event organized by Indian Institute of Corporate Affairs and ASSOCHAM.

Speaking at “She Inspiring Change: Contributing to Smart, Sustainable & Inclusive Growth” organized by IICA, Ministry of Corporate Affairs alongwith ASSOCHAM, Mr Rao Inderjit Singh highlighted government initiatives. The government of India has launched many schemes such as Beti Bachao Beti Padhao, UJJWALA Yojana, One Stop Centre Scheme to mainstream and empower women.

There is still a long way to cover with 79% of the women still out of the labour force. With labour force participation rate of 21%, the working women in India are half of the global average of 47%. The studies have shown that India could add $770 billion to its GDP by 2025 simply by giving equal opportunities to women, said the Minister.

Today, we are witnessing a ‘New India’, and in this new India, various initiatives are being taken to enable more women-owned businesses across the country. NITI Aayog’s Women Entrepreneurship Platform is one such initiative providing an ecosystem for upcoming young women entrepreneurs across the country.

With various growth estimates suggesting that the Indian economy will grow by 9.5% in 2021 and 8.5% in 2022, it will retain its fastest growing economy tag. The economic activity has been picking up with the ebbing of second wave of the virus. The real GDP in June 2021 quarter grew 20.1% against a previous year decline of 24.4% in June 2020 quarter. The momentum in growth reflects the resilience of Indian economy, mentioned Mr. Singh.

‘Technology, Data and Innovation’ are the key enablers and drivers of growth. The pandemic has only further underlined its importance worldwide. The Government of India is committed towards working with young and innovative entrepreneurs in the private sector to establish India as a tech-garage of the world and a leading smart nation. With third largest start up ecosystem in the World, India has the potential to become a global leader in Artificial Intelligence, machine learning, analytics and other forms of "digital” transformation.

The Atal Innovation Mission is playing an instrumental role in relentlessly promoting an ecosystem of innovation and entrepreneurship in the country. There are at present 9200 Atal Tinkering Labs and 68 Atal Community Innovation Centres across States and Union Territories to foster innovation and support start-ups and businesses, highlighted Sh. Singh.

India has recognized the importance of sustainable and green development. Use of clean energy and cleaner industrial technologies is the primary focus. Several steps to align industrial policies with environmental concerns have been taken by the government like increasing share of renewable energy in energy mix, increased adoption of green technology by industries across sectors, adoption of EV policy, etc.

Sh. Manoj Pandey, Joint Secretary, Ministry of Corporate Affairs, Government of India & DG & CEO, Indian Institute of Corporate Affairs said, India’s commitment towards inclusive and responsible growth is also reflected by its resolve to achieve Sustainable Development Goals (SDGs) and its targets by 2030.

The core SDG principle of “Leave No One Behind” resonates with the essence of our development agenda of ‘Sabka Saath Sabka Vikas Sabka Vishwas’, inclusive development of all with the trust of all. The Sustainable Development Goals also aims to empower women and girls and achieve gender equality. To promote empowerment of women all forms of discrimination against women must end, they must have equal rights to economic resources, as well as access to ownership and control over land and other forms of property, financial services, inheritance and natural resources, in accordance with national law.

In her welcome address Dr Lata Suresh, Head- Knowledge Resource Center - IICA & who was the Nodal Officer AKAM , the organizer for this event, started with the quote of Mahatma Gandhi that “Be the Change you wish to see in the World”. She informed that the summit aims to discuss & deliberate on topical subject and issues pertaining to Sustainable Growth Agenda and seeks to inspire the stakeholders from the talks of eminent personalities who we have invited from diverse fields or sectors, who have set-out benchmarks in their respective professions.

Ms. Preeti Malhotra, Chairperson, ASSOCHAM National Council for Corporate Affairs, Company Law and Corporate Governance Chairman, Smart Bharat Group & Past President, ICSI said, the Ministry of Corporate Affairs has supported the industry by keep coming with various amendments and provisions under Companies Act 2013, which were otherwise hampering to the compliances related timelines during pandemics. The prompt affirmative action of MCA on various matters represented by ASSOCHAM during pandemics has given the motivation to the industry and Industry calls upon govt. to continue with handholding by way of further making the policies flexible. She emphasized that women participation in the STEM (Science, Technology, Engineering, and Mathematics) industries as well – AI and machine learning are going to re-define future and it is absolutely crucial that there are more women data scientists, researchers, AI developers to ensure that the machines of tomorrow are also free of any gender bias.

Others who spoke during the conference were CA (Dr) Ashok Haldia, Chairman Board of IIIP of ICAI, Padma Shri Ms. Usha Uthup Social Activist and Renowned Bollywood Singer, CS Deshpande Devendra Vasant, Vice President, ICSI, Ms. Avani Lekhara, First Indian Woman to Win Two Paralympic Medals in Tokyo, 2020, Mr. Rajan Johri, Chairperson, Skill Development Delhi Management Association and Mento TDP Global and MD Leadwynn, Dr. Bhavna Chhabra, Professor, IBS and Managing Editor, Samvad.

The event was supported by TCI, Renew Power, Smart Bharat, COWE UP Chapter, Blend Global Learning and Development, International Internship University Australia and South Asia, MyLOFT, Clinitech and Corporate Insight the media Partner.

Centre for Independent Directors, IICA organized Power Talk with Shri U K Sinha: Experience Sharing on Recent Trends in Corporate Governance program for the members of Independent Director’s Databank on Wednesday 27th October, 2021.

The main objective of this event was to highlight the importance of adherence to Corporate Governance norms and recent trends.

The Program commenced on 27th October, 2021 at 04:00 PM with the theme address of Dr. Niraj Gupta, Head, School of Corporate Governance and Public Policy & Nodal Officer, Centre for Independent Director, IICA. He briefed the participants about Shri U K Sinha and his rich experience of working at different positions.

Principal speaker:

Shri U K Sinha has been Chairman of SEBI for over six years and known for multiple reforms like Foreign Portfolio Investors regulation, Alternate Investment Funds regulation and host of others on municipal bonds, Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), improving corporate governance and curbing unauthorized money collection schemes. His contribution for formulation of SEBI LODR is also well recognized.

Shri U K Sinha expressed his views on corporate governance trends in India and other major economies. He discussed practical aspects of governance norms at board level specifically related part transactions among other important topics. He emphasized on the role & responsibilities of Independent Directors in ensuring & implementation best standards of Corporate Governance.

There were lots of questions from participants and Shri U K Sinha gave answers to all these queries with the satisfaction of the participants.

Program concluded with the valedictory address of remarks of Dr. Niraj Gupta, Head, School of Corporate Governance and Public Policy & Nodal Officer, Centre for Independent Director, IICA. Centre for Independent Directors coordinated the event and ensured successful delivery of the program.

The Forum of Indian Regulators (FOIR) Centre at Indian Institute of Corporate Affairs (IICA) in collaboration with School of Competition Law & Market Regulations under the mentorship of Dr. Abha Yadav (Course Convenor) Associate Professor, School of Competition Law & Market Regulations (SOCL&MR); Director FOIR Center inaugurated the 3rd Batch of the three months online certificate course on regulatory governance on 23rd October, 2021.

Mr. Ashok Kumar Gupta, Chairperson, Competition Commission of India; Hony. Chairperson FOIR presided as the chief guest during the inaugural. The guest of honour for the event was Mr. Sanoj Kumar Jha, Secretary CERC. FOIR Centre at IICA welcomes all the 33 participants from various regulatory bodies including IBBI, CERC, TRAI etc and students, working professionals from various sectors. The FOIR centre successfully flagged off the event and convened two sessions on the date of the inaugural on theme, “Law and Economics of Public Policy and Regulation” by Dr. Risham Garg, Associate Professor, National Law University, Delhi and “Dealing with externalities via Public Policy” by Dr. Naveen Bali, Consultant, Department of Economic Affairs, Ministry of Finance.

The underlining objective behind introducing this course is to steer not just academic discourse on regulatory governance, but also to discuss and deliberate on several challenges that the regulators encounter in their day to day working. The course has been meticulously designed to build the knowledge of the participants on several aspects and nuances involving regulatory sector in India.

The State Capacity Initiative at the Centre for Policy Research (CPR), the National Council for Applied Economic Research (NCAER), the Forum of Indian Regulators (FOIR) and the Indian Institute of Corporate Affairs (IICA) on 15th September released new talk series titled: ‘Know Your Regulator’. The talk series revolves around people entrusted with the task of regulating Indian markets and various parts and aspects of the economy. These are the chairpersons and members of India’s regulatory agencies.

In the second episode of the series,Ms Rita Teaotia, Chairperson of the Food Safety and Standards Authority of India (FSSAI) spoke to Dr Mekhala Krishnamurty, Senior Fellow, CPR and Director of the State Capacity Initiative; Dr. Abha Yadav, Associate Professor, Indian Institute of Corporate Affairs and Director of the Forum of Indian Regulators (FOIR) Centre at IICA and Dr K.P. Krishnan, IEPF Chair Professor in Regulatory Economics, NCAER.