Ministry of Corporate Affairs to Observe Third Week of December as ‘ India Corporate Week’

INVC Bureau

New Delhi. Starting this December, the Ministry of Corporate Affairs will observe the third week of December every year as ‘India Corporate Week’. The theme for ‘India Corporate Week -2009’ will be ‘ Corporate Sector and Inclusive Growth’. By this the Ministry expects corporate sector to reaffirm its commitment to inclusive growth. Announcing this here today at a Press Conference, Shri Salman Khurshid, Minister for Corporate Affairs and Minority Affairs, said that this is in tune with the motto of the Ministry of Corporate Affairs: to promote the corporate sector with enlightened regulation. He said that the Ministry is focusing on the entire business sector and making an effort to offer a bouquet of incorporation instruments through the Companies Act, LLP Act etc. While a number of initiatives in this direction are underway, the Ministry also feels that there is need to provide positive reinforcement to the efforts made by the corporate sector in the development of the nation. ‘India Corporate Week’ is being planned to achieve this goal, Shri Salman Khurshid said. He informed that in the meeting with the members of the Governing Council of NFCG and other stakeholders held on November 14, 2009, the Ministry of Corporate Affairs received full support for this proposal. Regarding the timing of the observance, Shri Khurshid said that the third week of December is being chosen in view of the fact that corporate filings are done by the end of October and the data on corporate performance is available for the requisite analysis. This timing will also enable Ministry to complete the activity within the calendar year 2009.

Major trade and industry chambers like CII, FICCI and ASSOCHAM will partner with the Ministry of Corporate Affairs to organize a number of events during ‘India Corporate Week’. Institutes like IICA, ICAI, ICSI, ICWAI and corporates, SMEs, SOEs and young entrepreneurs will also assist the Ministry in these events. These events, while celebrating the success of Indian corporate sector, will also endeavour to demystify the corporate functioning for the common man. During the ‘India Corporate Week’, the events organized by CII will be focusing on the subject of ‘Best practices in corporate governance’, FICCI on CSR and ASSOCHAM on the SME sector. The weeklong events at major locations in the country will culminate into a national crowning event in New Delhi on December 21 or 22, 2009 and the consent of Prime Minister to be the Chief Guest for this event is expected shortly. Shri Salman Khurshid has made an appeal to the Media to give their support in making this venture of the Ministry a great success.