Indian President Encourages Company Secretaries to Uphold Good Corporate Governance

In a recent speech delivered at the 55th Foundation Day celebrations organized by the Institute of Company Secretaries of India (ICSI), President Droupadi Murmu urged company secretaries across the nation to aid in establishing India as a global benchmark for excellent corporate governance. She emphasized their role in ensuring adherence to laws that promote business and investment, thereby playing an integral part in India's journey towards becoming a leading global power.

The Role of Company Secretaries

President Murmu recognized the significant contribution made by company secretaries in shaping corporate governance within India. With ICSI boasting approximately 71,000 members and nearly 2.5 lakh students from all over the country, she stressed on their potential influence in molding India's future corporate landscape. The President further pointed out that it is not just enough for these professionals to be qualified and competent; they must also demonstrate courage and creativity.

Good Corporate Governance

The President underscored that good corporate governance is not merely about adhering to rules and regulations but also about being ethically responsible. In her words, "ethics in business are more important than business ethics". This highlights her belief that ethical considerations should form an inherent part of every business decision rather than being viewed as separate or optional elements.

Sustainable and Inclusive Aspects

In addition to urging company secretaries towards achieving high standards of corporate governance, she also called upon them to focus on sustainable and inclusive aspects. This indicates her vision for a holistic approach where businesses don't just aim for economic success but also consider social responsibility and environmental sustainability.

A Vigilant Watchdog

As per President Murmu’s address, company secretaries have been identified as vigilant watchdogs of corporate governance who ensure compliance with laws that promote business and investment. Their role is not just limited to regulatory compliance but also extends to fostering a culture of good governance within their respective corporations.

In conclusion, President Murmu's address highlighted the pivotal role company secretaries play in shaping India's corporate governance landscape. She emphasized their potential influence in establishing India as a global benchmark for excellent corporate governance. Her call for them to focus on sustainable and inclusive aspects underlines her vision for a more holistic approach towards business operations, where economic success is balanced with social responsibility and environmental sustainability.