A parliamentary committee has recommended to lower the minimum age for managing directors and whole-time directors from 21 to 18 years. On the face of it, the proposal looks like a simple alignment exercise. Most major economies do not impose a special age threshold of 21 for top corporate executives. An 18-year-old in India can already incorporate a company, own shares, sit on a board and run a business. The committee's view is that the law should reflect that reality. But the recommendation also reveals something else. There is a growing belief among policymakers and withing corporate India that boards need more younger people and younger voices deserve a larger role in the boardrooms.
ALSO READ | Parliamentary panel makes various recommendations on corporate laws amendment bill
