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December 11, 2008 15:37 IST
Urging Indian corporates to immediately 're-look' at the concept of business competitiveness, Lok Sabha Speaker Somnath Chatterjee on Thursday sought a fresh perception to it to help create possibilities for sustainable development. "The challenge is to find development strategies that improve the living standards, create employment, and promote opportunities and at the same time are environment friendly," he said addressing the third Asia Sustainability Summit in New Delhi.Quoting a task force report of the ministry of non-conventional energy resources, Chatterjee highlighted that out of the 400 million tonnes of agricultural waste produced in India, 53,000 mega watt power could be generated."India can become an energy secure nation even if half of this potential is tapped along with wind energy that itself has a potential of generating more than 45,000 mega watt energy," he said.Addressing corporates attending the Confederation of Indian Industries event, the former Marxist leader reverberated Mahatma Gandhi's words that the earth provides enough to satisfy every man's need, but not every man's greed."The traditional business management theory that there is only one responsibility of business, to use its resources and engage in activities designed to increase its profits, needs an urgent rethink and an overhaul," he said.Chatterjee instead called for a 're-look' at business competitiveness which while ensuring profitability, share holders' values, wealth and pursuing opportunities for growth can ensure new perceptions of creating sustainable development for the sake of 'long-lasting competitiveness'.
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