India pushes for self-reliance in critical minerals,shaking up governance for mining and metals firms. As government stresses securing lithium,nickel, rare earths for EVs and clean energy, experts urge boardrooms to shift focus .
Now,success means more than investment and compliance. It's about building trust and keeping a social license to operate. Companies must rethink governance,making communication central to board decisions.
Sunil Duggal,ex-CEO of Vedanta Group and current CEO of Bhumi Ventures, says corporate boards have fundamentally changed. Once focused on capital and efficiency,now they're about managing reputation, stakeholder trust,ESG performance, and resilience.
“The role of boards has changed fundamentally . Earlier,board discussions centred on capital allocation, operations and compliance. Today,directors are also expected to oversee reputation,stakeholder confidence,ESG performance and organisational resilience,” Duggal stated.
Pavan Kaushik, corporate communications advisor and author of The Fifth Estate,agrees. He says India's mineral goals hinge not just on financial and tech investments,but on sustaining stakeholder trust . Integrating stakeholder intel into decisions is key .
“Corporate communication brings stakeholder perspective into the boardroom,helping directors anticipate reputational risks,build trust with governments, regulators,investors, employees, and communities,and improve decisions before they are implemented,” he explained.
As projects get complex, boards might need independent directors with communication and reputation management skills . This can boost governance,cut risks,and strengthen long-term resilience .
Duggal adds that stakeholder trust is now a strategic asset. “Mining today is not only about discovering and extracting mineral resources . It is about earning and sustaining the trust of governments, investors, employees,and local communities,” he said. Good communication helps boards understand stakeholder expectations,bolstering their social license to operate.
Federation of Indian Mineral Industries (FIMI) backs responsible development in mining. Beyond meeting environmental and regulatory standards,they stress transparent communication about sustainability efforts to build public trust and investor confidence.
