Enabling Effective Industrial Risk Governance

Industrial Risk is a probabilistic concept that needs a constantly evolving and technically sound governance framework to predict the uncertainties posed by risks so as to strengthen the defense mechanism to help humans and property in potential danger from its harmful consequences. The pace at which industrialization and development have taken place in India has exceeded the pace at which the industrial risk governance framework has evolved. Alongside the cultural and socio-economic diversities in the country has led to considerable loopholes in the existing system. Thus, there is an urgent need to develop and implement a strategically sound industrial risk governance framework for India. The present project will explore development of an effective risk governance framework for India in-keeping with its specific socio-economic conditions.