OECD-India work on corporate governance




Ownership Structure of Listed Companies in India

06/07/2020 - The ownership structure in Indian companies is characterised by what is called promoters and non-promoters. In principle, promoters refer to founders or controlling shareholders while non-promoters refer to other shareholders, including minority shareholders. SEBI, India’s securities market regulator, has paid close attention to promoters and the implications for the economy in recent years.

This report showcases some unique Indian characteristics with respect to the ownership landscape and the presence of institutional investors in Indian capital markets.



About the policy dialogue

Launched in 2011, the India-OECD Corporate Governance Policy Dialogue supports policy makers by assessing key market practices and policy trends that may be detrimental to sound corporate governance. It also supports implementation by offering recommendations and policy options based on comparative analysis. The programme facilitates closer engagement in the regular work of the OECD Corporate Governance Committee and continued involvement in the Asian Roundtable on Corporate Governance.

The first phase of the programme resulted in a publication on Improving Corporate Governance in India - Related Party Transactions and Minority Shareholder Protection which provides policy options for improving monitoring and prevention of abusive related party transactions. A second phase focused on National practices for board evaluation and corporate governance.

The Securities and Exchange Board of India (SEBI) is the main partner, with the Ministry of Corporate Affairs, stock exchanges and professional associations also participating. The Government of Japan provides financial support.

The Securities and Exchange Board of India has published the results of a consultation on corporate governance norms in India using the OECD Principles among the key benchmarks. Download the consultative paper.



2016 Policy Dialogue on Corporate Governance and Board Evaluations

Mumbai, 1 December 2016 - Co-organised by the OECD and SEBI, this meeting focused on the effective carrying out of board evaluation in India listed companies. Topics that were addressed included: (i) good practices for board evaluation internationally, (ii) the benefits and disadvantages of different methodologies of board evaluation, (iii) the benefits and disadvantages of in-house versus third party evaluation, (iv) disclosure and frequency of board evaluations, and (v) the role of regulators in promoting board evaluation. The conduct of board evaluation in India is required in accordance with both the Companies Act 2013 and the Listing Regulation 2015.

Agenda | Presentations | Report


2014 OECD-Asian Corporate Governance Roundtable

Mumbai, 11-12 February 2014 - Hosted by the SEBI, this meeting focused on improving public supervision and enforcement in Asia, the governance and performance of listed SOEs, risks and opportunities for family-owned business groups and the revision of the OECD Principles of Corporate Governance. 


2nd India-OECD Corporate Governance Policy Dialogue Meeting

New Delhi, 5-6 March 2013 - Hosted by the SEBI, this meeting addressed how to monitor and curb abusive related party transactions in India and identify priorities for future reform efforts.
Agenda Day 1 | Agenda Day 2 


Contact information

Any requests for information should be addressed to Ms. Fianna Jurdant, Senior Policy Manager, OECD Corporate Affairs Division (, +33 1 45 24 79 25).



 Ownership structure of listed companies in India, 2020



Board evaluations: Overview of international practices, 2015‌


Improving Corporate Governance in India - Related Party Transactions and Minority Shareholder Protection, 2014


Related Party Transactions and Minority Shareholder Rights, 2012


The Role of Institutional Investors in Promoting Good Corporate Governance, 2011


Reform Priorities in Asia: Taking Corporate Governance to a Higher Level, 2011


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