India Inc in sync with PM's charter for industry

New Delhi, May 25: India Inc today expressed agreement with Prime Minister Manmohan Singh and said ostentatious expenditure and vulgar display of wealth needs to be discouraged and affirmative action promoted.

The corporate sector was one with Dr Singh that growth needs to be made inclusive and that vulnerable sections of the society can no longer be kept out of its fold.

At his address in National Conference and Annual Session of the CII yesterday, Dr Singh said promoters and senior executives had enjoyed excessive remuneration till now and to desist from lavish weddings and family functions, which are manifestations of conspicuous consumption.

The Prime Minister had rolled out a 10 point social agenda for such a social charter, which accorded top priority to employment creation and putting Gandhi's 'trusteeship' concept into practice.

The new CII President Sunil Bharati Mittal said Indian Inc has taken his suggestion in the 'right spirit' and will consider how this could be done.

Mr Mittal also asserted that India Inc will play the role of a catalyst in the government's Bharat Nirman programme.

Assocham President Venugopal N Dhoot said, ''We are in complete agreement with the Prime Minister, that ostentatious expenditure and vulgar display of wealth by any sections of society is completely uncalled for and will lead to social unrest.'' Mr Dhoot said the Prime Minister's providing jobs to SC/STs and OBCs including minorities was justified and assured the chamber would do all that was possible to convince its members to provide jobs to these sections of society.

FICCI President, Mr Habil Khorakiwala, too welcomed the Prime Minister's call to Indian industry to adopt its own 'Social Charter for Inclusive Growth' and said FICCI has already initiated a series of action aimed at fulfilling these objectives.

Mr Khorakiwala mentioned that social sector development was always high on its agenda emphasising development of health and education along providing sanitation and supply of safe drinking water.

UNI