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.
Strong accountability enhances the confidence of the citizens and the consumers.
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. This is the second major initiative that the National Endowment for Democracy and the Confederation of Indian Industry have taken together. The first was the founding assembly almost 2 years ago of the World Movement for Democracy which just held its second world assembly in Sao Paulo, Brazil, and we look forward to the continued participation of Indian NGOs, business and political leaders, trade unionists and intellectuals, and human rights defenders in this important global movement. We are now gathered to establish a Center for Democratic Governance in Asia, which President Clinton announced during his state visit to India last March.