World Quality Day Function, 23rd November 2001, organized by National Productivity Council, Institution of Engineers, Institute of Directors and Bureau of Indian Standards    

"Bombing of the Twin Towers has demonstrated the awesome power of non-state actors and the threat it poses to the security and continuity of business. Corporates will have to take centre stage role in bridging the widening gap between winners and losers through more responsible corporate behaviour. Corporate governance, therefore, is no longer a mere competitive differentiator. It is vital for survival of the corporation. It is not only good for business; it can also be a powerful instrument for national economic and social transformation." This was stated by Dr. Madhav Mehra, President World Council For Corporate Governance as the Guest of Honour at the World Quality Day function on 23rd November, 2001 organised by National Productivity Council, Institution of Engineers (India), Institute of Directors and Bureau of Indian Standards.

Dr. Mehra added, "The catastrophe caused by the cataclysmic events of 9/11 is mind shattering. Business's biggest challenge is to prevent it. We need to ensure we develop governance frameworks, which destroy the seeds of any kind of fiery fanaticism. This can not be done by creating armoured walls and security shields. This calls for greater understanding of each other and building bridges between winner and loser. We need to develop frameworks that reward courage because transparency will only come through courage. We need to build strategies that encourage entrepreneurial action and seek proactive involvement of every stakeholder. For this corporate governance needs to go beyond the corporation and set its focus on long term growth which is sustained and shared and takes care of the triple bottom line of profits, people and planet. This essentially means working on the human element and creating a culture where everyone owns the problem, everyone becomes part of the solution, everyone begins to persevere to become the change we seek in others and thus turn the rhetoric of corporate governance into reality".