'India Corporate Week' to be observed in December

New Delhi, Nov.16 (ANI): "India Corporate Week" will be observed for the first time in the third week of December.

Revealing this at a press conference here, Corporate Affairs Minister Salman Khurshid said the event is being observed to promote both inclusive growth and the corporate sector with enlightened regulation.

He said the ministry is 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, he added.

Khurshid informed that in the meeting with members of the Governing Council of NFCG and other stakeholders held on November 14, 2009, the Ministry of Corporate Affairs had received their full support for this proposal.

Regarding the timing of the observance, Khurshid said 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.

Khurshid appealed to the media to give their support in making the venture a great success. (ANI)