Hi everybody,
In a modern, democratic society, business must realise its wider social responsibility. The time has come for the better-off sections of our society to understand the need to make our growth process more inclusive—to avoid prominent consumption, to save more and waste less, to care for those who are less privileged, to be role models of honesty, self-control and charity. Indian industry must, therefore, rise to the challenge of making our growth processes both efficient and inclusive. If those who are better off do not act in a more socially responsible manner, our growth process may be at risk, our polity may become disordered and our society may get further divided. Many of the MNC companies are bound to prepare CSR report & “ISAE 3000” is a standard format followed globally for CSR Reporting.
I invite corporate India to be a partner in making ours a more humane and just society. We need a new Partnership for Inclusive Growth based on some Social Charter.
1) Have healthy respect for your workers and invest in their welfare.
2) Corporate social responsibility must not be defined by tax planning strategies alone.
3) Rather, it should be defined within the framework of a corporate philosophy which factors the needs of the community and the regions in which a corporate entity functions.
4) Industry must be proactive in offering employment to the less privileged, at all levels of the job ladder.
5) Resist excessive remuneration to promoters and senior executives and discourage conspicuous consumption and invest in people & their skills.
6) Discontinue from non-competitive behaviour.
7) Invest in environment-friendly technologies.
8) Promote enterprise and innovation, within your firms and outside.
9) Fight corruption at all levels.
10) Promote socially responsible media and finance socially responsible advertising.
This is not an exhaustive list. You may wish to add to it, and adopt your own Social Charter for inclusive growth. The objective would be to encourage a culture of caring, sharing and belonging.
Niraj Rai