The economic slowdown that is taking its toll on all the industries has forced India Inc to think beyond balance sheets. The fall in earnings along with consumer holdings on to their wallets and not so encouraging customer confidence, India Inc needs more than just great financial results in order to stay alive.
This deadly combination has forced India Inc to think beyond balance sheets and instead shows case their non-business initiatives. One such example is Wipro, which has published its first sustainability report. Anurag Behar, Corporate VP of Social & Community Initiative at Wipro, said, "It''s simply this-you see the financial and economic crisis in your line of sight here and now. But this issue of sustainability is an issue threatening the very survival of humanity over the next 50-70-100 years-whether it''s climate change, water scarcity or increasing inequality in society."
In fact, ITC has expanded its social as well as environmental activity in the slowdown. On the other hand, the pharma companies have come out with an ecological report because it wanted to get enlisted on the NYSE. The IT sector came out with such reports because of pressure from the clients. In the recession hit market, where most clients are looking at link benefits of reporting to balance sheet, that''s why want to shift from brand value to cost savings.
This deadly combination has forced India Inc to think beyond balance sheets and instead shows case their non-business initiatives. One such example is Wipro, which has published its first sustainability report. Anurag Behar, Corporate VP of Social & Community Initiative at Wipro, said, "It''s simply this-you see the financial and economic crisis in your line of sight here and now. But this issue of sustainability is an issue threatening the very survival of humanity over the next 50-70-100 years-whether it''s climate change, water scarcity or increasing inequality in society."
In fact, ITC has expanded its social as well as environmental activity in the slowdown. On the other hand, the pharma companies have come out with an ecological report because it wanted to get enlisted on the NYSE. The IT sector came out with such reports because of pressure from the clients. In the recession hit market, where most clients are looking at link benefits of reporting to balance sheet, that''s why want to shift from brand value to cost savings.
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