Profit Maximization Should Not Be The Only Aim Of Business Activities: Justice Dipak Misra
These businesses must also undertake requisite corporate social responsibility, not only in their home countries but also in nations where the footprints are felt" , said Justice Dipak Misra, former Chief Justice, Supreme Court Of India at the BW Legal World Global Legal Leaders Summit.
Digitisation and globalisation are ruling the business ecosystem in India. The world is witnessing acceleration when it comes to increased business and commercial activities. State institutions around the globe are trying to keep pace with the new development in economic activities. On the legal side, the courts are also demonstrating a pragmatic approach to encouraging the globalisation of economic laws. The government through its policy approach and the courts through their advanced rulings are creating a conducive environment for ease of doing business in India.
Although these are positive signs for the already booming Indian economy but the flourishing trade and commerce should not be seen as a way to maximize profit only.
"Profit maximization cannot be the singular shutter of economic activities, These businesses must also undertake requisite corporate social responsibility, not only in their home countries but also in nations where the footprints are felt" , said Justice Dipak Misra, former Chief Justice, Supreme Court Of India at the BW Legal World Global Legal Leaders Summit.
Besides CSR, businesses must act with the right consciousness. While ethics plays a big part in creating a culture of trust and excellence, following the law in both letter and spirit is crucial for businesses today for exhibiting high degree of corporate governance.
Watch Justice Dipak Misra talk about charting the right course for businesses for the future on the link below:
