Ethical Business Helps Companies Sustain In The Long Run: Sumit Mazumder, Chairman, CII

The Confederation of Indian Industry (CII), the largest industry association in India and the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, announced on September 19th, 2017, the launch of its South Asia Business Ethics Leadership Alliance (BELA) Chapter in India.  The mission of BELA South Asia is to create an environment conducive for the growth of industry in the country, through a community of select Indian and multinational companies who will serve as Founding Members of this exclusive initiative. They will shape the strategic and tactical direction of the chapter while playing a leadership role in inspiring best practices in ethics, integrity and anti-corruption efforts across the region. 

The South Asia BELA Chapter which was officially launched at a media event on September 19, 2017 at the CII headquarters in New Delhi, India featured a high-profile panel of senior executives and business leaders from founding member companies like General Electric, Dell, SBI, Walmart, Dun & Bradstreet, 3M, Tata Steel, Tata Power, Coca Cola, Boeing among others.

Mr. Sumit Mazumder, Chairman of CII’s committee on National Committee on Integrity and Transparency in Governance welcomed the founding member companies. Stressing on the importance of doing business ethically, he said “ethical business not only helps companies sustain in the long run, but also helps them generate profits, higher customer retention and attract talent”.

The highlight of the launch event was a panel discussion led by Tejal Patil, General Counsel for GE South Asia. The panelists consisted of Mr. Ajay Vij, Managing Director, Geography Operations, Accenture India, Mr. P. Krishnakumar, Senior Vice President & General Manager, DELL, India, Richard van der Merwe, Senior Bayer Representative, Bayer South Asia & Managing Director, Bayer CropScience Limited and Mr. Praveen Kumar Gupta, Managing Director, Compliance and Risk, State Bank of India. The panelists shared their views on their expectations of this chapter in the region and highlighted the role public and private sector can play in creating an ethical ecosystem in the region.

“Multiple studies have demonstrated how companies that prioritize transparency not only contribute to societal improvements, they often outperform the market,” said Stefan Linssen, Chief Content Officer, Ethisphere.  “With consumer demand for ethical business practices increasing globally, companies around the world are embracing a strong focus on integrity. It has become clear that consumers and stakeholders are seeking to conduct business with companies that maintain a deep concern not only for immediate profits but also for a sustainable future, making the mission of the new South Asia BELA Chapter a vital factor in improving transparency and integrity in India.”

“This is a ground-breaking initiative in India, the first for Ethisphere outside the United States, and we are proud to partner with each of these leading companies to help set the standard for universal business ethics in this region of the world,” said Aarti Maharaj, Managing Director, South Asia BELA Chapter. “The strategic imperative for the founding member companies and its senior executives is to form a unique community of leaders in India’s ethics space and to create a sustainable organization that will develop and implement best practices in business ethics, benefiting generations to come.”