Corporate Governance : A Response Towards Changing Indian Scenario

Abstract

The article explores the evolving landscape of corporate governance in India, emphasizing its significance in today’s dynamic and complex environment. It presents a conceptual framework for understanding corporate governance as a moral and ethical obligation, rooted in the philosophical tenet that businesses serve as trustees of stakeholders' interests. The study highlights the need for robust governance structures particularly in the context of global liberalization and privatization. By reviewing existing governance models and literature, it aims to develop a scoring model for evaluating the governance practices of cement companies in India, derived from corporate disclosures in their annual reports. Furthermore, the article discusses the imperative for greater awareness and adherence to governance standards to enhance corporate performance and foster economic growth. The conclusions drawn suggest the necessity for stricter governance norms to ensure transparency and accountability, ultimately positioning India as a potential superpower in the global economy.