Stressing on the need for Indian corporates to match up with the world in corporate governance standards, U K Sinha, Chairman, Securities & Exchange Board of India (SEBI) has reasserted its importance for all corporations for the coming years.

"It is important to note what is happening in the world futuristically. There are a whole new set of areas where the world is moving. All corporations, who want to stay relevant at the global level have to become relevant in that regard. I would urge you not to regard corporate governance as being thrust upon you but to look at it as something that is important for you own long term survival," he said.

Sinha was addressing the 10th Corporate Governance Summit organized by Confederation of Indian Industry (CII) on the overall theme titled ‘Building a Strong Corporate Governance Ecosystem in India'. 

Highlighting global governance trends, Sinha spoke about the new OECD principles that have been revised recently. He cited focus on equitable right of all shareholders with everyone being given an effective redressal mechanism; monitoring of the effectiveness of management; accountability of Boards to all stakeholders; and identification and mitigation of risk factors by the Board.

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