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CG Watch 2023: India Chapter

2024-10-16
On 2 October 2024, ACGA released the India chapter of the CG Watch 2023 report titled "Sustainability is key: Decoding ambiguity and non-transparency." The report is written by former ACGA Specialist Advisor, Sharmila Gopinath and main editor, Amar Gill, ACGA Secretary General, and co-published with CLSA. This is the final edition of the CG Watch 2023 series of country reports. 

India moves up one place to rank equal sixth on a score of 59.4%, a 1.2 ppt gain on its 2020 rating by ACGA. Among the findings in the report:
 
  • Green ambitions and pledges are high on the policy agenda with recent market consultations by the central bank (RBI) as well as the securities regulator (SEBI)  
  • Regulators upgrade rules on corporate disclosure, related party transactions and ESG disclosures
  • Corruption remains an issue: the Comptroller and Auditor General audit report highlights graft and mismanagement in government projects
  • A shortage of judges leads to delays and backlogs of legal cases
  • India’s independent audit body, the National Financial Reporting Authority (NFRA), has gained credibility: significant upgrade in our score on Audit and Audit Regulators.
The full report can be downloaded here