Financial Daily from THE HINDU group of publications
Thursday, Jan 12, 2006


Group Sites

Industry & Economy - Events

Call for sustainable corporate growth

Our Bureau

New Delhi , Jan 11

COMPETITION is the prime mover for growth and sustainable competitiveness is the precursor to sustainable growth, said Minister of State for Company Affairs, Mr Prem Chand Gupta on Tuesday. "If an economy cannot remain competitive on sustainable basis it cannot expect sustainable growth, as business and investment will start moving to other economies which are more competitive," the Minister said.

Mr Gupta was speaking at the CEOs Forum on Leadership for Sustainable Competitiveness organised by the Confederation of Indian Industry (CII).

Referring to the rapid economic strides made by the country, Mr Gupta mentioned that a recent NASSCOM-McKinsey report had stated that Indian IT exports alone would cross $ 60 billion by 2010.

He said that according to the World Economic Forum's Global Competitiveness Report 2005-06, India had moved up five positions in the ranking. But there were several speed-breakers in this story — infrastructure was not good enough, transport network needed improvement, and illiteracy, poor health and unemployment were some of the other factors that needed attention, he stated.

CII President and Chairman of ITC Ltd, Mr Y.C. Deveshwar said in his address that the challenge was to secure the desired quality and pace of development, not only economically but also in social and environment objectives.

He said, "As the nation embarks on an ambitious journey of economic growth, this is also the right time to engage with the broader scope of growth — namely sustainable development. The need of the hour is for the Indian industry to play a proactive role towards achieving sustainable growth."

Mr Deveshwar said corporates had a special responsibility to ensure that no deferred burden was placed on the coming generations.

At the forum, a memorandum of understanding was signed between the chamber and the Global Reporting Initiative (GRI), Netherlands to facilitate transfer of knowledge on Sustainability Reporting and promote the adoption and implementation of GRI guidelines.

More Stories on : Events

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Fresh system to lift mercury in North

Left seeks restoration of 9.5% interest rate on EPF
Relocating tribals from sanctuary
Bauxite mining plan infuriates tribal belt in Vizag
Work on foundry parks in Coimbatore to begin soon
ONGC submits report on discoveries
Delay in dredging at Kochi worries Petronet LNG
DG Hydrocarbons set to finalise disclosure norms for new oil and gas finds
Electricity Tribunal allows PowerGrid to execute M.P. project at higher cost — Sets aside CERC order on `cost ceiling'
Productive year for VSP
Textile sector needs more reforms, investment — IMF study scenarios give little cause for cheer
Dish TV offers no-subscription package
Corporates must shed feudal mindset, says Ranbaxy chief
Jamnalal Bajaj meet in Mumbai
CSI student chapter meet in Thiruvananthapuram
Helmet to come with bike in AP
Parsvnath to adopt eco management system
TN govt to build land bank to meet demand from industries
Workshop on construction engg at Kochi
Scramjet: ISRO makes major breakthrough
Chidambaram promises to simplify fringe benefit tax — `Non-navratna disinvestment on track'
Bids for MUL stake: Banks, FIs take cautious approach
Concern over insurance scheme for BPL families in Kerala
All BPL families to get rice at Rs 3 a kg in Kerala
Auto show set for big launch today — Rs 440-cr business deals likely to be accomplished
Call for sustainable corporate growth
Royal Sundaram takes Rs 9-cr hit due to floods
Reliance Capital, TV 18 team up to fund Yatra

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line