The Governance Gap: Why US Investors in Indian Companies Are Playing by Rules That Don't Actually Apply
Formal corporate governance in India looks reassuringly familiar to American investors—board committees, statutory auditors, shareholder resolutions, and regulatory filings that mirror Western frameworks closely enough to inspire confidence. That confidence is frequently misplaced. The real governance architecture of most Indian companies operates through informal hierarchies, personal loyalties, and relationship-based authority structures that no board resolution has ever captured. Investors wh