"With the goal of promoting better corporate governance practices in India, the Ministry of Corporate Affairs, Government of India, has set up National Foundation for Corporate Governance (NFCG) in the year 2003." In thi

National Foundation for Corporate Governance (NFCG) was set up in the year 2003 by the Ministry of Corporate Affairs (MCA), in partnership with Confederation of Indian Industry (CII), Institute of Company Secretaries of India (ICSI) and Institute of Chartered Accountants of India (ICAI) to promote good Corporate Governance practices both at the level of individual corporates and Industry as a whole. In the year 2010, Institute of Cost Accountants of India (ICAI) and National Stock Exchange (NSE) and in 2013 Indian Institute of Corporate Affairs (IICA) were included in NFCG as Trustees. Mission of National Foundation for Corporate Governance: To foster a culture for promoting good governance, voluntary compliance and facilitate effective participation of different stakeholders; To catalyze capacity building in new emerging areas of Corporate Governance; To create a framework of best practices, structure, processes and ethics; To further research, scholarship, and education in corporate governance in India.