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Political Play
CA Dr Sunil Gupta
How fair is it to condemn corporate houses? 19 April, 2014
New politicians, new ideas, and all new campaigning tactics. Definitely, transparency and equivalent favor to all should be an inseparable part of any democracy, however, is it fair to comment on reputed business houses without proper evidences?
The election season is at its peak and the phase of pointing out flaws in other political groups has traversed every limitation. Though our ancestors too viewed the criticism of competitive forces, however, altogether new techniques have taken over. Political parties, and specifically newly emerged groups have found a safe route to grab publicity.

Targeting corporate houses for their relationships with politicians has become customary. With a view to fetching attention and converting the same to votes, new political leaders when left with no other evidences of corruption or mala fide governance come up with 'exclusive photographs' and 'hot conversations' of other politicians with industrial entrepreneurs. Surely, the voters pay heeds to such instances; however, shall our support rely on such factors?

While almost every other voter aspires for safe and prosperous job prospects, where are these opportunities created? Can a nation, howsoever rich in terms of social aspects, survive without a stable economy? And, can we think of an economy without corporate houses? Not just the job-seekers, the shareholders, investors, financial institutions, creditors, and consumers are affected even with a slight detriment to the standing of any company. Then why it has become a trend of today’s politics to convict companies and their entrepreneurs in a courtroom of its own?

Media, electronic as well as print, has provided an effective platform to political leaders to share views with the mass. And, what we have been witnessing since past few months are 'Breaking News', wherein new leaders come up with some papers and declare the illicit relationship between a government and a corporate house. That too, alleging that a common man's money is being mismanaged and unjust favors are being extended with a view to extract monetary favors from corporates. Then what? The press conference comes to an end and the whistle blowers disremember to rely on our judicial system. Easy, isn’t it?

In the past recent days, we have seen a political group alleging extension of unjustifiable courtesies to Reliance Industries. Let me make you aware that as on March 31st, 2013 the company engaged 23519 employees for its operations, along with providing earning opportunities to 29462 temporary employees.

As per the survey of Brand Finance, Reliance is the second most valuable brand in India, hence has abundant shareholders and plays a vital role in representing the nation’s economy in the global arena. Those attacking Adani Group must realize that this conglomerate in energy, logistics, and resources sector extends jobs to 10400 (2012-13) employees and has more than 45000 non-institutional individual shareholders. Any decadent endeavor to damage company’s repute will result in a collective loss.

The role of industries and corporates is indispensable in any economy. While a government is expected to introduce measures so as to enhance domestic and global investment, political groups on the contrary are on the verge of declaring every corporate house corrupt. Can we ever think of a state leader who maintains an arm’s length relationship with corporate entrepreneurs to bring in the prosperity we aspire of?

Definitely, the government and corporate houses are bound to interact, share grievances, and come up with united measures to uplift the economy. Bona fide allegations are what can help overcome corporate corruption; however, the ongoing scenario will worsen the economic catastrophe.

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of merinews.com. In case you have a opposing view, please click here to share the same in the comments section.
About The Author
A Chartered Accountant by profession and Director on the board of Punjab National Bank (PNB), General Insurance Corporation of India (GIC) and Rural Electrification Corporation Limited (REC). Dr. Sunil Gupta is working flawlessly for the economic and social prosperity of India.
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