Responsibility of industry

To implement the agenda of inclusive growth both government and non-government organizations have to be sensitive to the needs of the people. Private sector has to play a pivotal role in this. Therefore, on 24 May 2007, in a national conference of the Confederation of Indian Industry, Prime Minister Manmohan Singh gave a Ten-Point-Social Charter to industries. The points are:

• Have a healthy respect for workers and invest in their welfare.

• Corporate Social Responsibility (CSR) must not be defined by tax planning strategies alone. Rather it should be defined in the framework of the needs of the community.

• The industry must proactively provide employment to the less privileged at all levels of the job ladder.

• Limit remuneration to promoters and senior executives as the rise in social inequalities may produce social unrest.

• Invest in people and their skills.