1. Ethics from Indian Perspective

Read 1: Business Ethics in India - S. K. Chakraborty

In this reading the author narrate the evolution of Business ethics as a course subject taught in Indian B-Schools. He states that unethical business in India became a recognized phenomenon during the second World War. Until 1992, ethics in business was not a topic considered in B-schools – except in two or three business schools in the country. A radical change occurred post 1992, when “scam” as a word started confronting the business environment. A deeper diagnosis found the B-P-C “business politics-criminals” triangle prominently involved in these episodes.

Some specific Ethical issues narrated by the author in Indian business context: 1. The general ethical problem relates employment contraction in manpower-intensive

basic industries. Modern, capital-intensive technology replaces older technologies but also leading to an exit of the old hands dealing with the outgoing technology. This causes severe social-psychological fall-outs in a highly populated country like India.

2. How can we say that global economic competitiveness is more desirable than local social stability.

3. Finally, how is corruption-in-a-poor-society to be dealt with on a footing different

from corruption-in-an-affluent-society?

Indian Business recognizes the necessity of an ethical business environment and has taken many initiatives such creating the council of Fair Business Practices (CFBP) established in 1966 by several leading private sector industrialists in Western India. It adopted the code of fair business practices. Awards called “Jamnalal Bajaj Uchit VyavaharPuraskar” (or Jamnalal Bajaj Prize For Fair Business Practices) to promote exemplary application of the above norms have been implemented.

The Xavies Labour Relations Institute (XLRI) at Jamshedpur has been the first business school in India to have introduced a compulsory course in Business Ethics since the early eighties.

Conclusion: Although Indian business environment is better that what it was at the dawn of independence, still a lot needs to be done considering the second largest population on stake , the issue becomes very grave. A lot still has to be done in terms of enforcement by the government and implementation by the business community. But saying so the society at large also has to change its view point and not accept unethical practices or value relates issues as somebody else’s problem. The society has to galvanize the change,