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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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