Union Minister of State for Corporate Affairs, Shri Harsh Malhotra, inaugurated the third edition of the National Conference on Responsible Business Conduct (NCRBC) 2025, emphasizing that “India is no longer catching up, India is ready to lead.” Addressing over 300 senior corporate leaders, ESG professionals, policymakers, and international delegates, he highlighted the nation’s shift from a regime of regulatory prosecution to one rooted in trust-based governance. Shri Malhotra underscored that responsible business conduct is now a foundational element of business strategy, asserting that “India’s approach to ESG is not merely ‘climate-first’ but ‘climate-plus,’ integrating environmental stewardship with social inclusion, ethical governance, and intergenerational equity,” reflecting the country’s holistic vision for sustainable growth.
He also reflected on the Ministry’s recent reform milestones, including the introduction of the National Guidelines on Responsible Business Conduct (NGRBC), Business Responsibility and Sustainability Reporting (BRSR), and the digital governance platform MCA21 Version 3.0. Shri Malhotra applauded the Jan Vishwas Act’s decriminalization of over 180 statutory provisions, emphasizing that such reforms are essential for fostering a conducive environment for responsible business. He further stressed that “the transition from compliance to conscience must be institutionalized across all business forms, including startups, MSMEs, and listed entities alike,” advocating for a culture where ethical conduct is embedded in the corporate fabric.
In a special address, Shri Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister, provided a historical perspective, cautioning against the indiscriminate adoption of subjective ESG metrics influenced by developed nations. He remarked that “India’s rich civilisational heritage, exemplified by Kautilya’s Arthashastra, already embedded principles akin to modern ESG ethos,” urging stakeholders to develop context-specific indicators aligned with India’s developmental priorities. Shri Sanyal emphasized that India’s responsible business conduct should be rooted in its unique institutional and cultural landscape, ensuring that ESG pathways are both economically viable and socially coherent.
UNICEF India’s representative, Ms. Cynthia McCaffrey, highlighted the importance of integrating social considerations into ESG frameworks, stating that “ESG is incomplete without healthy children and families.” She urged companies to incorporate child rights, nutrition, education, and community resilience into their responsible business strategies, emphasizing that “inclusive development cannot ignore the social foundations of sustainability.” Her remarks reinforced the idea that responsible business conduct must prioritize the well-being of the most vulnerable to achieve true sustainability.
The event’s opening session was concluded by Shri Gyaneshwar Kumar Singh, Director General and CEO of IICA, who underscored the need for indigenous ESG frameworks aligned with India’s national development goals. He noted that “imported templates would be inadequate to address India’s diverse business ecosystem,” advocating for evidence-based, strategic models that foster voluntary ESG compliance and transformation. Shri Singh reaffirmed IICA’s commitment to research, policy advocacy, and capacity-building, ensuring that trust, accountability, and innovation become the pillars of India’s responsible business landscape.
