Corporate Governance in India: Challenges and the Way Forward

Corporate governance, at its core, involves the framework of rules, practices, and processes by which companies are directed and controlled. It ensures accountability, fairness, and transparency in a company’s relationships with all its stakeholders—shareholders, management, customers, government, and the public. In India, corporate governance has gained significant attention over the last two decades, particularly after high-profile scandals like the Satyam fiasco, which exposed critical gaps in oversight and regulation. As India aspires to become a global business hub, robust corporate governance is not just desirable—it is essential. This article delves into the Indian corporate governance framework, identifies pressing challenges, analyzes key case law, and proposes actionable reforms.