Last year was a landmark year for Indian business. It began with the “India Everywhere” campaign at the World Economic Forum, where Indian business magnates, bureaucrats and economic pundits thronged the Davos platform. They pushed Indian investment in a big way. The rest of the year was spent putting their words into action.

Corporate takeovers by Indian multinationals reached new heights in 2006. The economy grew at 8.5% and is poised to overtake the UK, France and Italy within a decade, according to Goldman Sachs. By 2050, it will be second only to China. The high-profile Tata acquisition of Anglo-Dutch steel giant Corus appears to be only a sign of things to come.

Corporate responsibility has traditionally been the domain of a few enlightened companies in India. “The corporate brethren tend to leave it to the usual token CSR icons – Tata and Infosys – to provide stirring stories of social heroism, rather than come out with a compelling new story of corporate excellence,” says Malini Mehra, director and founder of the Centre for Social Markets, an Indian non-governmental organisation.

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