Integrated Reporting – Financial, Technical, Sustainability
January16, 2019 (C) Ravinder Singh email@example.com
Objective of the Integrated Reporting Standards Prescribed by SEBI for Corporates is to create Transparent Functioning, Level Operating Conditions, Healthy Competition and Sharing of Knowledge with objectives of making Indian Companies Globally Competitive, Create Intellectual Property mainly ‘Patents’ – Sustainable Development, Clean Environment and Economic Prosperity for Shareholders, Workers, Investors and People.
Yesterday TOI reported India to have $46.3Trillion economy by 2030 compared to $31 Trillion for USA. India depends almost entirely on Fortune-IN 500 Companies holding $4000b assets for Economic Prosperity for 1300m-1500m Indians.
Though companies had adopted Integrated Reporting on directions of SEBIbut it had not TRANSLATED into ‘Globally Competitive Indian Industry’ – actually performance of our Companies is declining – Dividend to Shareholders is just $10b for $4000b Assets.
Productivity & Profitability is Sharply Declining but Imported Petroleum Use Sharply Growing
FortuneIn 500 Special Quarterly Issue 4 Yrs UPA vs 4 Yrs NDA and Petrostats
Working at BST in 1974 – 100% American Factory – Largest in North India I was inventing, was member of British Council and American Center in 1977 was accessing Fortune and other Business Magazines – Engineering, Handbooks and Annual Reports of Companies was offering Technologies and Innovative Projects to Indian & Foreign companies.
Garland Canal Project was shelved on the basis of few pages of ‘Hand Written Notes’ to PM in 1980 – was reduced one liner in 2003 – ‘Stupid idea of River Linking is on for 4 decades – Instead of Transporting 50 Billion Cubic Meters of Water – Why Don’t We Transport 30 million tones of Food-grains required by South India?’
SEBI had failed to provide ‘LEVEL WORKING CONDITIONS FOR COMPETITING COMPANIES’ – Companies may be Complying with ‘RULES’ but DISCOLSURES ARE INADEQUATE i.e. Reading SEC filing I get to know the Financial & Technical INSIGHT of the Company like PETROBRAS – but getting nothing in case of RIL.
US Broke the Single Product MONOPOLY of Standard Oil, US Steel, American Tobacco, ATT etc
ü SEBI task is easier – Breakdown MULTI-Product Companies in to SINGLE PRODUCT to be EFFICIENT & SMART COMPANIES, Create Level FINANCIAL Operating Conditions.
ü Compulsory TECHNOLOGY & R&D Reporting – Appointment of Chief Tech Officers.
ü Easier TAKEOVER Code by RIVAL Indian & Foreign Companies.
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