Government to set up Indian Institute of Corporate Affairs

May 5th, 2008 - 9:16 pm ICT by admin  

New Delhi, May 5 (IANS) The government is to set up an Indian Institute of Corporate Affairs to serve as an independent think tank to suggest corporate social responsibility (CSR), it was announced Monday. “The government will set up (the institute) to look at various aspects of corporate affairs, including CSR, holistically,” Anurag Goel, secretary in the ministry of corporate affairs, said here.

He was speaking at a conference organised jointly by his ministry, the Confederation of Indian Industry (CII) and the National Foundation for Corporate Governance (NFCG).

“Industry could partner with the government in social issues and provide effective delivery systems,” Goel said.

He added that the institute would act as an “autonomous think tank” with representation from the government, corporates, institutions and organisations.

According to Tejpreet Chopra, president and CEO, GE India: “CSR is far bigger than just giving back to society; it is a way to understand the needs of the people.

“CSR attracts good people who understand the values of the company and so helps build leadership for the future. Finally, it is useful in developing brand image,” he added.

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