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Past Issue • Jan-Mar 2014

Redefining India’s Governance Landscape

Weak governance, both corporate and civil can erode investor confi dence and prevent India from achieving its vast economic potential, argues Mirza Baig, Managing Director, Hikma Governance Consulting. In this article, he analyses the implications of recent regulatory reforms on India’s governance regime, and observes that despite their good intentions, reforms alone are unlikely to succeed in transforming corporate behaviour without sustained commitment from key stakeholders.

Amidst the despondency over tempered economic growth rates, widening balance of payment deficits and the turbulence in the currency markets, it is natural that regulators, market participants and the media become consumed with short-term efforts to kick-start the ailing Indian economy. There is a degree of inevitability that the market will continue to react to new economic data or statements from policymakers with often exaggerated valuation swings. However, it is important for the market to not lose sight of the long-term fundamentals that have made India such an exciting destination for capital over the last two decades.

ABOUT THE AUTHORS

  • Mirza Baig

    Mirza Baig

    Founder and Managing Director of Hikma Governance Consulting.
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