Business organisations should contribute to development of society, country: President

Any business organization's objective should not just be the benefit of its members, but it should also participate in the development of society and the country, President Ram Nath Kovind said Saturday.

Speaking during the 90th year celebrations of the Merchants Chamber in Kanpur, he called on industries to contribute towards making India a net-zero emission economy. The president said that since its inception, as a representative body of industry, trade, and commerce, the Merchants Chamber of Uttar Pradesh has been promoting industrialization, trade, and entrepreneurship in the state.

''This organization has been providing a platform for mutual coordination between the business and industry and policymakers,'' he said, adding, ''I am happy to note that the Merchants Chamber is working towards women empowerment and promotion of start-ups.'' He said that although the term Corporate Social Responsibility (CSR) is a construct of modern civilization ''we have an old tradition of doing public welfare work by business communities''. ''The objective of a business organization should not just be the benefit of its members but it should also become a participant in the all-round development of society and the country,'' he said.

Kovind urged the gathering to go to villages and contribute to their social and economic development by adopting them as individuals or as a group.

The president said climate change is a big challenge.

The union government has announced at the CoP-26 (Conference of Parties) Summit that by 2030, India will reduce its carbon emissions by one billion tonnes and try to become a net-zero emission economy by 2070, he said.

But the cooperation of industries is very important in achieving this goal, he said, adding many companies around the world are already contributing to a zero-carbon economy.

Therefore, it is expected from the representatives of industry and business that they would not only work towards reducing pollution in existing industries but also contribute to establishing new environment-friendly industries, he said.