There are significant differences in the governance practices followed by leading companies in India and the US. Given the unique features of the Indian environment, it is believed that the direct adoption of global governance concepts may not enhance value creation. Appropriate governance practices for any company are a function of its operating environment, size and ownership structure, and can be best determined through evaluation by experts having thorough conceptual clarity and contextual familiarity.
Background
Corporate governance is a global concept: it is applicable to all countries, and to all corporates operating in these countries, and there have been numerous attempts to devise global best practices. However, just as every country's industrial development and economy are at different stages of evolution, and have evolved differently in response to their environments, so also corporate governance is at different stages of evolution in different geographic regions, and has taken different forms.
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