Ukraine war, Gaza conflict and Middle East strikes: It's time businesses prepare for political risk

I will step off the boards of several companies this year. This is because of the SEBI regulation that independent directors can only serve a maximum of two five-year terms as non-executive directors. I will leave with a heightened sense of respect for the calibre and talent of Indian management. They are truly world-class. That said, I would like to offer a suggestion — they should incorporate scenario planning into their risk management processes for tackling political risk. The world is poised on a knife-edge of political uncertainty. Several commentators have pointed out that more than 50 per cent of…