The government and the corporate entities must join their hands together to work in tandem with each other.
By Dr. Rana Singh
In the quest of being globally competitive, India Inc. has to understand that it must gear up its speed to give a catalytic boost to its CSR initiatives. The government and the corporate entities must join their hands together to work in tandem with each other.
The globe is heading towards IFRS compliance. The Indian Companies and foreign companies operating in India are committed to comply with the amended provisions of the government in this regard.
The challenges are increasing exponentially in the light of the rapid changes in the internal and external environment. The government and the corporate sector should and must evolve innovative strategies and mechanisms so as to catch up with the global trends and demands in the area of CSR and Corporate Governance. The models may be participative, collaborative, mutually dependent, resource-sharing basis, outsourced and many other permutations and combinations.
The simplest way out is to invite the policy makers, bureaucrats, academicians, researchers and various other stakeholders of society on a common platform so as to discuss, evolve / formulate the long-term strategic roadmap and gameplan / action plan for the Indian economy and its corporates so as to orient India on the fast-track development.
About the Author
Dr. Rana Singh is the renowned academician in India.
