The Indian Institute of Corporate Affairs (IICA), in collaboration with the Directorate General Resettlement (DGR) under the Ministry of Defence, has inaugurated a certification program designed for senior defence officers. The two-week program, held at the IICA campus in Manesar, Gurugram, marks the first initiative of its kind, aimed at equipping officers from the Indian Armed Forces with the necessary skills and knowledge to excel in corporate governance roles.
The program, which commenced with the participation of 30 high-ranking officers—including Air Vice Marshals, Major Generals, and Rear Admirals—will culminate in a certification ceremony on 31st August 2024. This cohort comprises both serving and recently retired officers, representing all three branches of the Indian military.
In her keynote address, Monica Agrawal, Managing Director for Financial Services in Asia Pacific and India Lead for Board Services at Korn Ferry, emphasized the critical role of boards in corporate governance. She highlighted the importance of independent directors in navigating the challenges faced by modern boards. Ms. Agrawal underscored the valuable leadership and strategic insights that defence officers can bring to corporate boards, advocating for a stronger collaboration between the corporate sector and the armed forces.
Dr. Niraj Gupta, Head of the School of Corporate Governance at IICA and Nodal Officer of the Independent Director’s Databank, set the thematic tone for the course by exploring the similarities and differences between public governance, military governance, and corporate governance. He also highlighted IICA’s role as a knowledge hub and catalyst for best practices in corporate governance.
The program is meticulously designed to provide participants with a deep understanding of corporate governance, focusing on the roles and responsibilities of independent directors. The initiative aims to prepare these officers to contribute effectively to the development of Indian corporations, thereby playing a significant role in the nation’s progress.
Col. Amandeep Singh Puri, Chief Administrative Officer at IICA, welcomed the participants and outlined the program’s design, while Dr. Anindita Chakrabarti, Principal Research Associate at IICA, led the proceedings. The program is facilitated by experts including Mr. Mathew John, Asheesh Singh, and Manoj Singh.
This initiative is part of IICA’s ongoing efforts to promote good governance and responsible business practices, ensuring that the corporate sector benefits from the leadership and strategic acumen of India’s defence forces.
