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The Forum can take legitimate credit for being among the first public
body to comprehend a Code of Conduct for business and industry, way
back in 1956. The current public concern with Corporate Governance, was
first adumbrated by the Forum about 50 years ago. In recent years the
Forum has arranged several programmes on this subject with a view to
highlighting the need for companies to assume greater social
responsibility.
Forum’s object was categorically stated as under:
‘What we stand for is that within the framework of planned development
every individual in this country should have the largest possible scope
for making his or her contribution towards the development of the
country by the use of his or her initiative and enterprise. What we do
not accept is subjecting the economy to such a measure of regulation and
control that it stifles initiative, incentive and enterprise, and if,
during the course of our activities, we have found it necessary to
criticize government policies and activities, it is because we are
convinced that the regulations and controls are defeating the very
objective of a rapid economic development of the country.
Excessive regulation
and control lead to concentration of power in the hands of the
bureaucracy and tend to (result in) regimentation of economic life.’
This is how the Forum
was established by A.D. Shroff in July 1956.
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