December 14, 2010 10:30 PM

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Corporates need to follow fair means in business practices

Amid charges for flouting environment laws by some influential business houses, Prime Minister Manmohan Singh on Tuesday said there was a perceived “ethical deficit” among some corporates which need to follow fair means in their pursuit. Addressing captains of industry at India Corporate Week 2010 function in New Delhi he said that he is sure that business leaders are aware that business practices of some corporate houses have recently come under intense public scrutiny for their perceived ethical deficit. Some leading industrial houses, mainly engaged in mining and real estate are facing charges of violating environmental laws, while a few others are under public eye for intensive lobbying to influence government policies.Expressing concern over the way natural resources are being used by industry, Dr Singh said, they need to be sensitive to the needs and aspiration of common man.The Prime Minister cautioned that in absence of adequate resettlement and rehabilitation of project displaced people, faith in industrialisation may erode.

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