NCRBC 2025 Inaugurated: India Charts ESG-Centric Path to Viksit Bharat 2047

The third edition of the National Conference on Responsible Business Conduct (NCRBC) 2025 was inaugurated with great fervor on July 2 at the Taj Palace, New Delhi, by Shri Harsh Malhotra, Minister of State for Corporate Affairs and Road Transport & Highways. The two-day flagship event, organized by the Indian Institute of Corporate Affairs (IICA) under the Ministry of Corporate Affairs (MCA), brings together more than 300 stakeholders from the corporate world, policy, finance, academia, and international institutions to deliberate on the transformative theme: “Integrating ESG for Viksit Bharat.”

From Compliance to Conscience: A New Era of Corporate Governance

In his inaugural address, Shri Harsh Malhotra emphasized the government’s shift from prosecution-driven regulation to trust-based corporate governance. He underscored that Environmental, Social, and Governance (ESG) principles are no longer peripheral add-ons but integral to long-term business strategy and national development.

“India is no longer catching up — India is ready to lead,” the Minister declared, asserting that ESG in India is grounded in climate-plus priorities — blending environmental sustainability with social inclusion, intergenerational equity, and ethical business practices.

He highlighted key policy reforms from the Ministry:

• National Guidelines on Responsible Business Conduct (NGRBC)

• Business Responsibility and Sustainability Reporting (BRSR)

• Digital governance under MCA21 Version 3.0

• Decriminalization of 180+ provisions via the Jan Vishwas Act

Towards an India-Specific ESG Model

Delivering a compelling special address, Shri Sanjeev Sanyal, Member, Economic Advisory Council to the Prime Minister, cautioned against blind adoption of global ESG indices that fail to reflect India’s unique social, economic, and institutional realities.

“We must develop ESG metrics that align with India’s development priorities,” he said, invoking Kautilya’s Arthashastra as evidence of India’s ancient heritage in ethical governance and responsible economic conduct.

He criticized western-centric ESG benchmarks for being out of touch with ground realities, and urged Indian businesses to pursue ESG models that are contextual, just, and equitable.

ESG for Children and Families

Ms. Cynthia McCaffrey, UNICEF Representative to India, brought in a vital social perspective, stressing that children and families must be central to ESG narratives.

“ESG is incomplete without the wellbeing of our youngest citizens,” she asserted, calling on businesses to integrate child rights, nutrition, education, and community resilience into their social governance strategies.

Institutional Leadership and Knowledge Building

Shri Gyaneshwar Kumar Singh, Director General & CEO of IICA, traced the decade-long journey of India’s ESG framework development, noting that “imported templates will not serve India’s diverse ecosystem.” He advocated for evidence-based, India-specific ESG models, supported by capacity building and strategic policy inputs.

“We are creating a regulatory culture where trust, innovation, and accountability go hand in hand,” he stated.

Prof. Garima Dadhich, Head of IICA’s School of Business Environment, highlighted the conference’s evolution from awareness to integration, reaffirming IICA’s role as a national ESG think-and-do tank.

Thematic Panels: Day 1 Highlights

The first day of NCRBC 2025 featured four high-impact panel discussions, setting the stage for India’s ESG transformation.

1. The Rise of ESG in the Boardroom

With keynote by Smt. Ravneet Kaur, Chairperson, Competition Commission of India and NFRA, the session examined how board-level integration of ESG is crucial for long-term strategic success. Panelists from Mahindra Group, ICAI, NSE, ONGC, and Engineers India Ltd highlighted the evolving fiduciary responsibilities of directors in guiding ESG adoption.

2. Sustainable Finance: Transforming Capital for a Green Future

This panel explored green bonds, impact investing, and sustainability-linked finance. Experts from SEBI, NABARD, India INX, Indian Banks’ Association, and CEEW called for redirection of capital toward climate goals and social impact, making sustainability central to financial strategy.

3. EU CSDDD and Its Relevance to Indian Businesses

As the EU implements its Corporate Sustainability Due Diligence Directive (CSDDD), Indian exporters must align with global due diligence expectations. The session stressed proactive compliance to retain international competitiveness in value chains.

4. Workforce of the Future in the Age of Disruption

Industry leaders, educators, and policymakers explored strategies for ESG-aligned skilling, inclusive employment models, and preparing workers for green and digital jobs. The focus was on enabling dynamic and inclusive workforce transformation.

Looking Ahead: Day 2 Themes

Day 2 of NCRBC 2025 promises further rich deliberations on:

• Decarbonising India’s Industrial Base

• Sector-Specific ESG Frameworks

• Aligning BRSR with Global Reporting Norms

• Resilient Supply Chains

• Multilateral Cooperation through a Diplomatic Panel with ambassadors from key partner nations

Collaboration for Viksit Bharat 2047

With support from the Ministry of Corporate Affairs and strategic partnerships with UNICEF India, Partners-in-Change, ICAI, ACCA, GAIN, ATNi, ILO, and the Responsible Business Alliance, NCRBC 2025 reinforces that responsible business conduct is not optional but essential for India’s aspirations of becoming a developed, inclusive, and ethically anchored nation by 2047.

NCRBC 2025 has not only catalyzed critical ESG conversations but also affirmed India’s leadership in shaping a responsible, locally grounded, and globally aligned business ecosystem. As the discourse shifts from regulation to responsibility, India is positioning itself not just as an adopter of ESG frameworks, but as a visionary architect of sustainable and inclusive economic models for the future.