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Today's News | News of Jan 17, 2007
Multinationals have added Value
to Indian Industry: Murthy

New Delhi, Jan 17
Asking Indian industry to give top priority to ethical issues, Infosys Technologies Chief Mentor N.R. Narayana Murthy Wednesday said foreign companies have added value to India's corporate governance issues.

"Opening up of Indian economic borders in the 1990s allowed many multinational companies to operate from India, who have brought tremendous value addition to India's corporate governance," Murthy said at a seminar here.

"This has also had a positive impact on customer value," Murthy told the seminar on ethics and values as a corporate strategy, organized by the Confederation of Indian Industry (CII).

Murthy also said India Inc must also give utmost importance to ethical behavior and best corporate practices as the coming in of multinational corporations has also offered a plethora of choices to the customers today.

"We have to satisfy the aspirations of most stringent of customers and investors and we must remember that we also have to enhance the trust of our investors if we want to retain them," he said.

"Corporates should be accountable for any decision that they take for the sake of all stakeholders and discharge their responsibility without fear or favor," he said.

"Corporate leaders today are trusted least of all and that is because they have flouted ethics, fairness and accountability in their operation."

Murthy also emphasized that if any firm wants to be different from others, then it needed to follow a protocol of behavior, which consists of ethics, fairness and accountability.

He also said business conglomerates today should stand up for the cause of those who are still below the poverty line and ignite the minds of people.  

IANS News of Jan 17, 2007

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