The Hindu Business Line : British trade body urges Indian corporates to set new examples on governance

Sir Digby Jones, Director General, Confederation of British Industry, exhorted Indian industry to set new examples on this front without waiting for other nations like the US to set precedents.

He was speaking on the theme `World Economic Outlook' at CII Partnership Summit, 2005.

Industry in the UK has come out in support of the British Prime Minister's recent initiatives on climate change; similar moves should also be taken in other countries, Sir Digby felt. He also referred to the relationship between Confederation of British Industry and CII, and underlined the fact that the British trade body will soon cross an important milestone. There will be celebrations in July, for which CII will be invited.

Businesses, he added, are an important part of society, and can be very useful if they are in the right hands. It will be possible to deliver water, transport and even education to consumers when businesses decide to provide them to the masses.

According to Mr Soumitra Dutta, Dean of Executive Education, INSEAD, France, business executives around the world are increasingly displaying cautious optimism. There is, in some ways, less uncertainty in the world, a feeling that is guiding business people to form their views on economic growth, currencies and interest rates. For such people, the focus has shifted to execution from tactical planning.

"People are increasingly realising that business cannot exist alone. They need partnerships with governments and NGOs," he said, adding that the international business community is also shifting its focus to the East. The image of Indians has undergone a change, and people have a high level of expectations. In this context, Indian business must concentrate on meeting the expectations of outsiders in innovative ways, Mr Dutta stated.

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