Objectives and Mandate of the CWG
The newly constituted CWG is tasked with reviewing corporate disclosure provisions under the Companies Act, 2013, and examining international standards to ensure alignment with Indian corporate governance norms. Key responsibilities include recommending board-level ESG oversight frameworks, stakeholder engagement strategies, and measures to promote innovation, financing, and impact assessment of ESG initiatives.
The CWG will serve as a platform for structured consultation and informed decision-making on corporate governance matters, supporting India’s goal of harmonizing domestic norms with global ESG standards.
Shri R. Mukundan, Managing Director and CEO of Tata Chemicals, will act as the Senior Expert Advisor to the group. The CWG will also include senior representatives from leading organizations such as IOCL, NTPC Ltd., Schneider, Infosys Ltd., Reserve Bank Information Technology Ltd., Aditya Birla Group, Reliance Industries, Tata Consumer Products, ONGC, Dr. Reddy’s Laboratories, and Tata Steel. Consultancy experts and academicians from IIM Bangalore and IICA will also participate.
Prof. Garima Dadhich, Head of the School of Business Environment (SBE) at IICA, will serve as the Member-Convener, with the SBE functioning as the Secretariat to provide technical and institutional support.
Strengthening Corporate Governance & ESG Oversight
The CWG’s formation aligns with India’s increasing focus on ESG integration within corporate strategy. By reviewing disclosure norms, converging Indian standards with international best practices, and providing strategic recommendations for board oversight, the CWG is expected to foster transparent and sustainable corporate operations.
This initiative also emphasizes stakeholder engagement, enabling businesses to adopt responsible governance while addressing environmental and social impacts. Experts anticipate that the CWG’s recommendations will influence both policy frameworks and industry-level ESG adoption across sectors.
Significance for the Indian Corporate Sector
With global investors increasingly prioritizing ESG-compliant companies, Indian corporates are under pressure to demonstrate transparency, sustainability, and accountability. The CWG is positioned to bridge the gap between international expectations and domestic practices, ensuring that Indian firms remain competitive while adhering to responsible governance principles.
The CWG’s work could also guide reporting standards, board training programs, and impact assessment frameworks, creating a robust ecosystem for corporate ESG compliance.
Looking Ahead
The establishment of the CWG marks a pivotal step towards enhancing corporate accountability and ESG governance in India. By leveraging insights from industry leaders, consultants, and academicians, IICA aims to deliver actionable recommendations that benefit policymakers, corporates, and stakeholders alike.