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Home / India News / 2007 / May 2007 / May 24, 2007
Manmohan Singh calls for inclusive growth through 10-point social charter
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Manmohan Singh calls for inclusive growth through 10-point social charter

Urging Indian industry to make growth process both efficient and inclusive, Prime Minister Dr. Manmohan Singh today outlined a 10-point social charter for this purpose.

New Delhi, May 24 : Urging Indian industry to make growth process both efficient and inclusive, Prime Minister Dr. Manmohan Singh today outlined a 10-point social charter for this purpose.

Addressing the Confederation of Indian Industry's (CII) National Conference and Annual Session, 2007, Dr. Singh said: "I invite corporate India to be a partner in making ours a humane and just society. We need a new partnership for inclusive growth based on a 10-Point Social Charter".

The Prime Minister's social charter includes a healthy respect for workers and investment in their welfare, corporate social responsibility, employment to the less privileged, resist excessive remuneration and discourage conspicuous consumption, and investment in people and in their skills.

Elaborating further, the Prime Minister asked the industry to desist from non-competitive behaviour, invest in environment-friendly technologies, promote enterprise and innovation, fight corruption at all levels and promotes socially responsible media and finance socially responsible advertising.

Reminding captains of industry that "We are what we are because of what our Motherland has given us", Dr. Singh said, "The time has come for us to ask ourselves what can we give her back. India has made us. We must make Bharat."

He warned business families and executives not to fuel a rich-poor divide with excessive salaries and greedy behaviour.

Dr. Singh said the industry must be more proactive in recruiting workers from underprivileged backgrounds and should guard against attempts to subvert competition.

"The operation of cartels by groups of companies to keep prices high must end. It is unacceptable to obstruct the forces of competition from having freer play. It is even more distressing in a country where the poor are severely affected by rising commodity prices.

Cartels are a crime and go against the grain of an open economy. Even profit maximisation should be within the bounds of decency and greed. If a liberalised economy has to succeed, we must give full play to competitive forces and the private sector should show some self-restraint in the regard," Dr. Singh said.

Urging captains of the Indian industry to facilitate employment creation, Dr. Singh said: "While our Government will continue to create an environment friendly for the growth of manufacturing, leaders of industry must also facilitate employment creation in their industries. This requires expansion of economic activity, investment in human capabilities and the pursuit of socially, politically, environmentally, and financially sustainable growth processes."

"We are committed to work with industry for the transformation of India's economic and social landscape. We do not believe in an adversarial relationship with industry but in a partnership," he added.

CII President R. Seshasayee, CII Vice President Sunil Bharti Mittal were among those present.

Seshasayee, in his welcome address, said: "While Indian industry has achieved global competitiveness in many sectors, CII humbly accepts that this is not sustainable in the long run and that we must think out of the box, anew, afresh and ahead".

"CII's 'mission on innovation' has already triggered an innovation movement and we have created platforms for bringing together industry, academia and research institutions to facilitate this process", he added.Mittal, assuring the Prime Minister of the industry's unflinching commitment to the 10-point charter, said that CII had already taken up most of these areas in the mission mode through initiatives such as the mission for innovation in manufacturing, mission for skill building, integrity India campaign, and 'Code of Affirmative Action'.

ANI

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