IICA and MoD Launch Certification Program for Defence Officers in Corporate Governance

The program has attracted 30 senior officers, including Air Vice Marshals, Major Generals, and Rear Admirals from all three branches of the Indian Armed Forces.

The Indian Institute of Corporate Affairs (IICA), in collaboration with the Directorate General Resettlement (DGR) under the Ministry of Defence, inaugurated an innovative certification program for senior defence officers today at the IICA Campus in Manesar, Gurugram. This pioneering two-week course, which runs until August 31, 2024, is designed to bridge the gap between military leadership and corporate governance.

The program has attracted 30 senior officers, including Air Vice Marshals, Major Generals, and Rear Admirals from all three branches of the Indian Armed Forces. This unique initiative is aimed at providing these esteemed officers with a deep understanding of corporate governance, focusing on the roles and responsibilities of Independent Directors.

In her keynote address, Ms. Monica Agrawal, Managing Director-Financial Services and Asia Pacific/India Lead for Board Services at Korn Ferry, highlighted the importance of the Board of Directors in corporate governance. She emphasized the strategic role that board members play in elevating governance standards and addressed the modern challenges faced by corporate boards. Ms. Agrawal also stressed the value that defence officers, with their leadership and strategic expertise, could bring to corporate boards. She called for a collaborative approach where corporate houses can harness the talent of defence officers for risk management and seizing opportunities.

Program Overview:

The program's thematic direction was set by Dr. Niraj Gupta, Head of the School of Corporate Governance and Nodal Officer of the Independent Director’s Databank at IICA. Dr. Gupta explored the convergence and divergence between public, military, and corporate governance, underscoring IICA’s role as a knowledge hub and catalyst for best practices in corporate governance.

The curriculum is meticulously crafted to provide participants with a comprehensive understanding of corporate governance principles, including the regulatory landscape and the critical role of Independent Directors. The course also aims to equip these officers with the skills needed to contribute effectively to the boards of Indian corporations, thereby fostering national development.

Participants expressed enthusiasm for the program, recognizing it as an opportunity to expand their horizons and contribute to the corporate sector. The program also aligns with IICA’s mission to promote good governance and responsible business practices across the Indian corporate landscape.

Program Administration:

The opening session was led by Col. Amandeep Singh Puri, Chief Administrative Officer at IICA, who welcomed the participants and provided an overview of the program. Dr. Anindita Chakrabarti, Principal Research Associate at IICA, facilitated the proceedings, with assistance from Mr. Mathew John, Mr. Asheesh Singh, and Mr. Manoj Singh.

This initiative marks a significant step in integrating the leadership acumen of India's defence forces into the corporate world, promoting a culture of excellence and governance in Indian businesses.