General Statement by India under Agenda Item 4 during the 10th Session of the Open-Ended Intergovernmental Working Group for the elaboration of an International Legally Binding Instrument on Transnational Corporations and other Business Enterprises with respect to Human Rights Geneva, 16 December 2024

Thank You Chair,

My delegation congratulates you on your election as the Chair-Rapporteur to steer the proceedings of this session. Developments since the 9th Session, including the engagement of legal experts and 10 days of intersessionals, demonstrate your personal committment to move this process forward.

2. Business enterprises play a key role in today’s world as they impact the lives of people in every possible way. The Pact for the Future also recognises the business sector as a key partner for the United Nations and governments to achieve the sustainable development goals and ensure an effective response to our common challenges.
3. At international multilateral level, there is a renewed recognition of the need to ensure Responsible Business Conduct and respect for human rights, particuarly in a world interconnected by digital technologies and interdependent supply chains. The obligation to protect and promote human rights in the business context has assumed greater significance in the post pandemic world.

Mr. Chair,

4. As the largest democracy in the world, India’s rich cultural values are based on the principle of inclusive development for all & inclusive participation for all, i.e. Sabka Sath, Sabka Vikas, Sabka Vishvas aur Sabka Prayas. India’s endorsement of UNGPs reflect our commitment that businesses should respect human rights. We have issued National Guidelines on Responsible Business Conduct in 2019, which provides the framework on Business Responsibility Reporting in India, taking into consideration the UNGPs and SDGs as its key drivers.

5. India has also taken several steps for streamlining gender perspective in its business policies. In July 2023, we added new environmental, social and government (ESG) metrics for mandatory disclosure under ‘Business Responsibility and Sustainability Reporting (BRSR) Core’ for the top 1000 listed companies in India. By making it mandatory for companies to disclose their sustainability practices, the BRSR is set to boost and enhance investor confidence, build trust among stakeholders, and align Indian companies with international ESG reporting norms. India has also been working on a National Action Plan on BHR at the domestic level. 

6. These initiatives at the national level in India complement already existing institutional mechanisms comprising an independent judiciary, national and state commissions to monitor compliance with human rights, legal and policy measures and free and vibrant media.

Mr. Chair,

7. The coming days will give us further opportunity to undertake discussions and seek further clarity on a number of elements in the current draft text, including on rights and protection of victims, protection of victims, prevention, access to remedy, liability issues amongst others.

8. India reiterates its position that this instrument should focus only on business activities of a transnational nature and not on national enterprises, as we already have domestic laws to regulate the latter. Such an instrument needs to take into consideration the socio-economic developmental priorities of developing countries and LDCs while making transnational corporations responsible for protection and promotion of human rights. We are committed to engage in a constructive manner in the discussions over this week.

Thank You.