Geopolitical conflicts pose mounting legal and regulatory compliance challenges for India-based multinational firms that operate in foreign jurisdictions, says Varun Singh, Founder and Managing Partner, Foresight Law Offices India.
In his responses to Fortune India, Singh said armed conflict, sanctions and embargoes, and interruptions in global trading routes may dramatically impact the procurement, cost, and delivery of goods and services in global supply chains. “Geopolitical risks have transitioned from being an operational risk to being considered a material compliance and governance risk, requiring formal disclosures and established processes for managing this risk, as well as oversight from the Board of Directors of the company”, he said.
