Kolkata, September 22: President Pratibha Patil Wednesday urged business houses to stick to ethics in their trade dealings and stressed on a trust-based relationship among government, organisations and society at large to make corporate India a credible partner in the nation’s progress.
‘I would like to mention that business is for profit but it cannot be divorced from ethics. This basic principle should be the guiding principle for business houses and their management,’ Patil said after inaugurating the 37th National Management Convention of the All India Management Association (AIMA) here.
‘For corporate India to become a credible partner in India’s progress, a trust based relationship between government, organisations and society at large is a must,’ the president said.
In an earlier programme during the day, Patil stressed on ethics in business practices to enable the Indian industry compete with foreign companies in an age of globalisation.
‘Globalisation has widened the field of competition in business. Therefore, our industries and businesses have to compete with foreign companies. While new technologies and strategies have to be developed, it is all the more important that we incorporate ethics in business,’ the president said while addressing the platinum jubilee celebrations of the Marwari Federation here.
–IANS