A unique Indian 'enterprise charter'

Enterprises of all kinds are the ‘oxygen of any economy. India has about 65 million of them, according to records.

- R GOPALAKRISHNAN

Of those only 5,000 are listed. Just 250 firms account for about two-thirds of aggregate market value. India’s enterprise canvas is a vast array of small units with just a handful of significant companies. What we need is, maybe, 10,000 actively traded enterprises in manufacturing and services, and 100,000 medium and small enterprises with sdistinct capabilities in a global context.

For a developed India, many vectors must be activated, and India is on this trail. However, we need far more urgency, focus, and passion: An “Indian enterprise charter”, almost like the Indian Constitution, may help focus. It must be a living document with a deep sense of enterprise morality and one that is adaptive and evolving in line with our cultural ethos.

What is the strategic role that enterprises should play? What kind of enterprises does India wish to foster? What is their desired behaviour and approach to nation-building? How will the central and state governments play an enabling role for them? Just like the preamble to the Constitution, the charter requires its own preamble, a value-based philosophy.

The Constitution was enriched by ideas from diverse segments of the population, and its preamble is a brief statement that outlines its core values and philosophy. Likewise, the charter’s preamble should enshrine core values and a philosophy for enterprise promotion, distinct from procedures and rules.