THE TIDE RISES SLOWLY: Corporate Governance in Development by Omkar Goswami

Corporate Governance in Development: The Experiences of India

Omkar Goswami

eBOOK available at

The past few years have seen an extraordinary movement by Indian enterprises to sign up for codes of corporate governance; first voluntary, later compulsory. This is not the consequence of any scandal but the direct result of the recognition by a new breed of managers and entrepreneurs that good corporate governance is intimately linked to sound business and opens the road to sources of finance. There is still some way to go; bankruptcy and accounting procedures need improvement, the stock and bond markets need to perform better and pension funds should play a fuller role. But there are real grounds for optimism. This is chapter 4 of the work that outlines India’s experience.

Omkar Goswami is the Chief Economist of the Confederation of Indian Industries. Holder of a Master's degree from the Delhi School of Economics and a Ph.D. in Economics from Oxford University, he currently serves on the boards of Infosys, Dr. Reddy's Laboratories (two of India's most prestigious knowledge-based companies), DSP-Merrill Lynch Fund Managers Ltd., and Infrastructure Development Finance Co. Ltd.


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