IICA to collaborate with Ficci

The Indian Institute of Corporate Affairs has joined hands with industry body Ficci for collaboration in diverse areas including CSR, corporate governance and laws.
IICA, which comes under the Corporate Affairs Ministry, has entered into a Memorandum of Understanding (MoU) with Ficci.
They would collaborate in the areas of Corporate Social Responsibility (CSR), competition law, corporate laws, corporate governance, inclusive growth and sustainable development of the industry as well as the economy, an official release said today.
Among others, they would organise awareness programmes to promote various aspects of the new Companies Act 2013, especially related to CSR activities, in major cities.

Besides capacity building measures would be initiated with regard to CSR and responsible governance practices.
Under the new companies law, certain class of profitable entities are required to shell out at least two per cent of their three-year average annual net profit towards CSR activities.

According to the relase, IICA is also working with Thomson Reuters to raise awareness on corporate regulation and governance for firms in India.
"Through this alliance the two will deliver a range of orientation programmes aimed at company board members, other senior officers from the corporate sector as well as officials from government, statutory and regulatory bodies," it added.

These programmes would be sector-specific and would cover topics such as corporate governance, board effectiveness and industry trends, opportunities and risks.
The first orientation programme is being planned for the pharma sector, the release said.