India to get reporting rules

New rules on business responsibility disclosure and sustainability reporting standards are to be produced by a stakeholder committee of the Institute of Chartered Accountants of India.

The rules, inspired by the Global Reporting Initiative guidelines, are felt necessary now that Indian companies are under increasing pressure to observe ethical principles as they seek access to global markets and foreign investment.

The committee has sent questionnaires for companies to complete confidentially so that they can play a part in formulating the rules. A draft of the document is expected within a few months.