CII to train independent directors

With the trend for incorporating external directors on boards of companies catching on, the Confederation of Indian Industry (CII) is gearing to launch a programme for training prospective directors who may choose to join different company boards in the future.

"Currently, we bring in friends or other known professionals onto our boards. But these board members need to be more informed and atuned to the corporate operations to participate in the decision making," Sunil Kant Munjal told Business Standard on the sidelights of his formal presentation of the CII agenda for eight per cent sustained growth, here today.

The initiative will offer regular training programmes for independent directors and also evolve a database of this human resource pool to aid its member companies.

"We are still in the process of working out the project details and should be able to kick off the exercise in a few months," Munjal informed when asked of the selection process for candidates.

While making his presentation to the media, Munjal clarified that will continue to be supportive of the Indian Government's initiative to enter in free trade agreements (FTAs) with different governments.

With a thrust on global networking CII will push for closer industry-Government consultation on FTA issues he said.

During the current year the Confederation is opening an office at Geneva to service the Indian industry on WTO. It is also spreading its international presence to new markets such as Bangladesh, Brazil, South Korea, Pakistan and Turkey.

Pointing out that the failure of monsoon needs to be factored in, he noted that the project seven per cent growth in GDP may be difficult in the current year.