President Droupadi Murmu addresses 55th Foundation Day function of Institute of Company Secretaries of India in New Delhi

New Delhi: President Droupadi Murmu said yesterday that the role of the corporate world in managing resources should be that of trusteeship. Addressing the 55th Foundation Day function of the Institute of Company Secretaries of India in New Delhi, the President said that today, India is scaling new heights, be it economic or social development, we are moving towards becoming a leading nation. 

She added that in such a scenario, it becomes more important that our professionals are not only qualified and competent but also courageous and creative. She stated that the future of India's corporate governance depends on the willpower and actions of Company Secretaries. They can make India a role model of ‘Good Corporate Governance’ as well as of ‘Good Governance’. 

The President said that Company Secretaries should remember that their loyalty is not only to perform the legal work as an officer or professional of a company, but their duty is also towards every citizen of the country who has been left behind in the developmental journey. She said that the spirit of service should be their basic mantra.  President Murmu said that the responsibility of corporate and private sectors is not only to focus on the economy but also to



make social development and justice their goals.

 

On the occasion, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said that the Narendra Modi Government has taken several steps to bring in good corporate governance in the country.  She said, the Government has eased the compliance burden and decriminalised minor offences, and removed archaic laws to facilitate ease of business. 

She informed that 39 thousand unnecessary compliances and 1500 archaic laws have been removed. The Finance Minister informed that in the last three financial years 230 billion US dollar Foreign Direct Investment has come to India. She said that India's growth story is now moving towards tier-2 and tier-3  cities.

 

The Finance Minister also appreciated the Institute of Company Secretaries of India for its initiative of waiving fees for Armed Forces, Paramilitary Forces, and their wards and Agniveers and Families of Martyrs for registering in the Company Secretary Course and handing over a cheque of 11 lakh rupees towards Army Central Welfare Fund ( Corpuses). On the occasion, Secretary, of the Ministry of Corporate Affairs Manoj Govil was also present.