Asia is the largest continent of the world, with 30 % of land area of the world and highest population of human beings in the world. International institutions like World Bank, OECD, UN, IMF and many others, predict and agree that Asia will be the growth engine for the world economy. Asia is the continent with two major countries, China & India both economies registering highest growth rates in the world, upward of 10 % and 7 % respectively. WTO predicts that World trade will boom @ 8%, World Bank estimates that world export which was $ 4 trillion in few years ago is expected to grow several fold in next 10 years and 50% of this will be from emerging countries. Asia again will lead the trend. The Economist magazine in it’s special publication, reports that first time in 400 years, all of Asia will be managed by Asians. World economy will grow @ 4.2 %, American economy will grow @ 2%. Europe will expand faster than US (first time in 9 years.) Asia will grow @ 6.7 %. n 9 years.) Asia will grow @ 6.7 %.

OECD projections for next 25 Years are that OECD Countries will grow @ 3% annually, while developing countries particularly Asia will grow @ 6.7% annually. It further projects that developing countries share of world trade will increase from 1/6th to 1/3rd i.e. from 17% to 33%. (nearly double), Asia will provide growth engine to World Trade. 2.3 Billion people of India & China will organize their societies so as to double their prosperity every 10 years. China has been accessed by WTO therefore is likely to become more transparent in it’s trade practices.

At the corporate level, the race to get bigger, quicker will push firms in all industries towards Mergers & Acquisitions. This will create larger companies in Asia. Investment Bankers and Regulators will face a greater Challenge. This means Corporate Governance will assume greater importance Asia. Asian Countries are pursuing their own efforts at the country level, in the area of Corporate Governance. However, considering similarities in the cultures of oriental countries, there was an opportunity to foster active networking amongst Asian Countries. Thus, Mahendra & Young Knowledge Foundation, which is a non profit Public Charitable Trust, has promoted Asian Centre For Corporate Governance & SustainabilityTM (ACCGs).

Mission & Objectives of Asian Centre for Corporate Governance & Sustainability™(ACCGs)

Mission of Asian Centre for Corporate Governance (ACCGs) is To promote Global Corporate Governance principles of Transparency, Accountability & Equity. ACCG will aim to become a Catalytic Institution to bring about qualitative improvements in the Corporate Governance ‘Processes & Practices’ of Asian Companies for optimizing the shareholder’s as well as stake holder’s value, in a balanced manner. The main objective is to encourage Asian Companies, through Advocacy, generate wealth in a socially responsible manner, protecting the environment and ensuring sustainable development of communities & Society. Asian Centre will achieve this by working closely with various multiple stakeholders of society like;

• Company Boards, including Promoters / Owners, Independent Directors as well as Management Team of whole time Directors of the Asian Companies.

• Institutional Investors (FIIs) as well as Individual Shareholders.

• Regulatory & developmental authorities like Ministries of Corporate Affairs, Securities & Exchange Boards or Commissions, Central Banks of each country and Stock exchanges of Asian Countries.

• Asian Centre will provide a neutral platform for all the above stakeholders for the exchange of ideas and healthy debate to bring about continuous improvements in the Governance & Sustainable development of Asian Companies.

Objectives:

• To conduct National, Regional & International Conferences, seminars, Round tables & lecture series to discuss & debate the current issues of Corporate Governance & Sustainability, keeping in mind the unique / specific needs of each of the Asian countries.

• To document the best practices of Corporate Governance & Sustainability from around the world and encourage Asian Companies to adept from such best practices, within the regulatory framework of their own jurisdiction and structure of their Capital Market.

• To conduct research, analyze the trends and come up with meaningful conclusions and recommendations in the area of Corporate Governance & Sustainability.

• To foster interaction between Company boards & regulatory authorities and foster the spirit of working as partners for the common good.

• To further the ‘Knowledge Creation’ in the area of Corporate Governance & Sustainability, by networking, partnering and co-operating with reputed National / Regional & International Associations / Institutions / Centers, who are active in doing similar work.

• To work closely with Management Institutes / Universities to develop teaching Modules for management students and conduct certificate / diploma courses for Directors & practicing top managers with a view to develop a cadre of well trained Directors of tomorrow.

• To develop & monitor a recognized mechanism of Rating for the Corporate Governance Processes & Practices of Asian companies.

• To institute Awards in the area of Corporate Governance & Sustainability to raise the bar of Corporate Governance & Sustainability practice and recognize the individuals & companies adopting high standards of Corporate Governance & Sustainability.