President Pratibha Patil: Ethics in business vital in globalisation era

Kolkata, Sep 22 (Calcutta Tube) President Pratibha Patil Wednesday stressed on ethics in business practices to enable the Indian industry compete with foreign companies in an age of globalisation.

‘Globalisation has widened the field of competition in business. Therefore, our industries and businesses have to compete with foreign companies. While new technologies and strategies have to be developed, it is all the more important that we incorporate ethics in business,’ the president said while addressing the platinum jubilee celebrations of the Marwari Federation here.

Patil said that faced with the challenge of globalisation, it was important to safeguard the systems of society.

Describing financial disparity as the biggest challenge for economic growth, Patil said: ‘It is important that everyone experiences the fruits of economic growth so as to establish an equitable social order in the spirit of ‘sarbajan hitaya, sarbajan sukhaiyo’.’

Praising the Marwari community, she said they have spread their business not only in Kolkata but across the country through their abundant energy, ability to struggle, sincerity and hard work.

‘They came to Kolkata 400 years back. Slowly, they spread to the far and remote parts of the country. Today, the Marwari society has established a connect with each place they settled down.

‘They have not only earned money but also set up social and cultural organisations to serve the nation,’ she said.

Patil also recalled the help the Marwari youths provided during the independence struggle, referring to the contributions of Jamnalal Bajaj and Ghanshyam Das Birla.

The strength of the Marwari community in Kolkata is 1.5 million.

‘The Marwari society has also played an important role in the development of Kolkata,’ she added.

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