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This is an archive article published on December 15, 2010

Corporates must care,communicate better

For any nation,rapid industrialisation is the fastest way forward to economic growth and prosperity in an increasingly globalised and trade barrier-free world.

For any nation,rapid industrialisation is the fastest way forward to economic growth and prosperity in an increasingly globalised and trade barrier-free world. Historically,it is industry that has helped in the creation of wealth for society and propelled the sustainable well-being of people. It is industry that has the technological capabilities and intellectual competence to utilise the natural resources of a nation for the economic upliftment of its people in the long term,and on a sustainable basis.

However,in any nation – and especially in a huge country like India with its diverse socio-economic and cultural milieu – it is imperative to ensure that industrialisation fosters growth that is both inclusive and equitable. Today,large tracts of land are required to be acquired for the setting up of large industrial projects. In several cases,this has met with resistance from the local community,which has also displayed scepticism over the genuine intent of industry.

We need to understand the local people and their aspirations. There needs to be a comprehensible communications cascade that addresses misguided and unwarranted apprehensions. There are fears among the locals of transition from an agrarian to an industrial society. There are problems arising out of the aspirations of people with regard to R&R,generation of employment opportunities,change in the status of womenfolk,etc. Industry needs to address these concerns to the satisfaction of all stakeholders,especially the community in and around its areas of operations.

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In the transition from an agrarian economy to an industrial society,the onus is also on industry to address genuine concerns among people about the impact of industrialisation on society,community,environment and the ecosystem as a whole. There is need for communication on the spin-off benefits of industrialisation and how it helps improve the standard of living of those who live around it. The multiplier effect of industry needs to be demonstrated and communicated.

The government must mandate that industry should take initiatives to improve the quality of life of people who are impacted by the scope of the industrial transformation that is sought to be achieved. Those who are displaced from their land owing to its acquisition for industrial projects must be resettled and rehabilitated with care and compassion. They must be skilled and trained such that their employability goes up and they are able to find gainful engagement in an industrialised society. The focus should also be on empowerment of communities. Costs incurred by companies on all these heads should ideally be treated as part of the cost of operations and not derived as a share of the company’s profits. Profits can be impacted by several factors. When the expenses as mentioned are treated as part of the operating costs,they will be consistent,transparent and sustainable.

With regard to land being acquired for mining,it is important to ensure that the mineral is unearthed in an environment-friendly,safe,scientific and planned manner with due care being given to conservation of the nation’s resources and empowerment of the community around. Greening of the mined-out areas should be given utmost priority. Deployment of state-of-the-art technologies and adopting environment-friendly and sustainable mining practices should be accorded topmost priority.

Finally,impact of industrial activity on the environment is a global concern today. Climate change and global warming are matters that cannot be put on the back-burner any more. Industry must adopt scientific technologies and put in place processes that mitigate the adverse impact of industrial activity on the environment. We owe this to our future generations.

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The primary purpose of business is to improve the quality of life of the people. Companies must consistently work for the sustainable development and betterment of the quality of life of people in and around their areas of operations. Industry must help in the creation of sustainable social infrastructure and empower communities. This is imperative for economic,environmental and social well-being of the community,for today and tomorrow.

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