Jamshedpur, Feb 12 : Vice-President M Venkaiah Naidu today emphasised on the need for ethical corporate governance in Indian Industry. At the centenary year celebrations of the Jamshedpur city, the Vice-President said that some people took undue advantage of the system, and industry has a duty to eschew such elements. Observing that a company’s ethics, values, and social responsibility play an important role in building its reputation, Me Naidu said that conducting business in an ethical manner builds confidence among customers and investors.
He appreciated the Tata Group for being synonymous with high ethical standards and the pioneering spirit of entrepreneurship. He also called upon the industry to shed its hesitation to make investments to facilitate economic growth. Calling industry and agriculture as two eyes of nations, he opined that industry must compliment the efforts of government to achieve desired economic progress.
The Vice-President said PPP models would lead to improved efficiency and faster delivery of services. Referring to the recent policy interventions of the Reserve Bank of India, Naidu said the measures were aimed at lowering the cost of funds for banks and providing funds to the industry. (UNI)