The CII was privileged to partner the NED in organizing a major international conference to set up the World Movement for Democracy. A welcome fallout of this has been the setting up of the Asian Center for Democratic Governance. This inaugural conference of the Center is therefore very special and of great significance. The answer to this question lies in the fact that economies will only flourish on a sustained basis when all sections of society reap the benefits of growth and development. Only those nations where there is equity amongst all sections of society, freedom of speech and action, and a premium on individual initiative, can provide the basis for sustained and, indeed, happy growth.
Governance is the key to an open, transparent and equitable society.
We in business and industry, as indeed every citizen, would like to see even greater transparency in every facet of governance. It is in this spirit we have joined hands with NED to provide a platform for sharing experiences amongst different nations, some of which have both an open economy and strong democratic norms. We have speakers and participants from 14 countries to deliberate today and tomorrow over various facets of governance, covering transparency and accountability, the role of parliament, the judiciary and the role of the media. In an area where inter-dependence is the order of the day and where physical boundaries are becoming less and less relevant, democratic norms and good governance act as the major attraction for investment and business. Good governance provides a 'feel-good' factor to investors and business partners.