Ethics in business is a must, state global biz Leaders

BANGALORE, INDIA: "Ethics is the foundation of any business," was the sentiment echoed by eminent business leaders, global heads and parliamentarians at the tenth edition of the 'Corporate Culture and Spirituality', India (CCS) Conference in Bangalore.

Organized and hosted jointly by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) and The Art of Living, in association with World Forum for Ethics in Business, this global event witnessed a congregation of 700 business heads to discuss role of ethics and spirituality in the business arena.

"An organization's DNA is its culture and one needs to finetune it in a holistic manner. Articulation of corporate social responsibility and transparency for common good is the key to change," said K.V. Kamath, chairman, Infosys Limited.

Setting the tone for the conference, spiritual guru and AOL founder Sri Sri Ravi Shankar said, "Just as you need both scissors and a needle to make a garment, business and spirituality go hand in hand. One cuts and the other joins, and both have an important role to make the garment."

"In spirituality, we tap into the world of intuition, which is an important aspect of success in business," he added.

Sri Sri further added that there were seven areas, in which Indian business potential could be tapped: tourism, apparel, food, jewelry, ayurveda, yoga & spirituality and information technology.

Sharing his vast experience as a member of the European Parliament, Jo Leinen advocated that enterprises are responsible for their impact on the society and that businessmen integrate Parliament, social, environmental and cultural aspects of a society.

Commenting on the need for good governance in India, Ananth Kumar, chairman, parliamentary standing committee on external Affairs and MP, said, "Many states in India have adopted citizen charters in their respective states to address grievances of citizens and Karnataka is one among them, which offers services through Sakala."

Similarly, on the line of citizen-charter services, Kumar felt that India also needs to have "Corporate Chartered Services" for young entrepreneurs, who want to start new enterprises.

He said, using this service, these young entrepreneurs should avail services to get permit, licence and others in stipulated time from government officials.

Investments in MSME sector

Highlighting on the session "Advantage Karnataka" which is aimed at MSME sectors, Shanmugam, president of FKCCI, said, "We are expecting Rs. 100-400 crores investment in MSME sector in Karnataka and expect to sign a couple of MoUs tomorrow."

"We believe this conference also enables prospective investors to interact with key governments officials and local businesses to gain knowledge on fiscal and financial incentive packages for investment," he added.

Corporate Culture & Spirituality (CCS) Conference is an annual event, where leaders of business, governance, academia, civil society and faith-based organizations come together to share their expertise on an ethics-based approach and its impact on the bottom-line through the integration of spiritual values in business.

The conference was inaugurated by a distinguished panel of dignitaries, including K.H. Muniyappa, Minister of State, MSME, GOI; Jo Leinen, Member of European Parliament, Germany; Nirj Deva, member (United Kingdom Representative), European Parliament; and Yezdi Batliwala, chairman, Vyakti Vikas Kendra, India.

The conference will conclude with a valedictory session attended by Sri Sri Ravi Shankar and Murugesh Nirani, Minister of Heavy Industries, Govt of Karnataka.