Mar 10, 2014
CHENNAI: Making corporate social responsibility (CSR) an intrinsic part of the business is the need of the hour, says Tamil Nadu Governor Dr K Rosaiah.
Delivering the inaugural speech of a conference and exhibition on CSR organized by CII (Confederation of Indian Industry) in the Chennai on Monday, the Governor said the concept of corporate social responsibility is not new to India.
"Companies should consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, communities, and other stakeholders, as well as the environment. Making CSR an intrinsic part of the business plan is imperative," the Governor said.
Rosaiah said the CSR policy should function as a built-in, self-regulating mechanism whereby businesses would monitor and ensure their adherence to law, ethical standards and international norms.
"CSR should be considered beyond statutory compliance; industries should take this as an opportunity to take part in the nation-building process. Improving the quality of life for employees and their families as well as for the local community and society at large is imperative. If a company chooses to follow the way of CSR, it will integrate ethical concerns in its activities and in its interaction with all the stakeholders," Rosaiah added.