Aon India Non-Executive Directors Study Report 2025
India’s corporate governance landscape is at an inflection point. The role and remuneration of Non-Executive Directors (NEDs) are no longer limited to fulfilling compliance norms but are increasingly seen as markers of governance maturity and board effectiveness. As investor expectations rise and regulatory frameworks evolve, the way Independent Directors are compensated and engaged offers a unique lens into the state of corporate governance in India.
We analyze data from leading companies in the BSE 200 index to understand how Independent Directors are positioned, how their contributions are rewarded, and how governance practices are adapting to new priorities. The report goes beyond traditional industry and size-based benchmarks to capture the dimensions that matter most today - diversity and inclusion in board representation, profit-linked incentives, and the growing role of non-mandatory committees that provide oversight on ESG, digital transformation, and long-term strategy.
Our findings highlight both progress and persistent gaps. While better-governed boards demonstrate stronger alignment between director responsibilities and remuneration, structural disparities remain in areas such as gender representation, access to performance-linked pay, and inclusion in high-impact governance roles. These insights are critical for boards and stakeholders seeking to strengthen accountability, transparency, and inclusivity.
This report offers a data-backed perspective on how governance maturity is unfolding in India’s boardrooms and what it will take to build resilient, future-ready boards. It provides actionable benchmarks for companies and directors who aspire to lead with responsibility, inclusivity, and stewardship.
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