Institutional Investor Advisory Services (IiAS), India's leading proxy advisory firm, on Friday said more transparency is needed on India Inc's political donations.

In its latest report, IiAS has suggested that corporate donations must be leveraged to push for reforms in the democratic process, over and above the corporate agenda.

In an interview to CNBC-TV18, Amit Tandon, the founder and managing director, said, "I don't think corporates need to be shy about disclosing whom they are donating to and how much they are donating."