DMS-IIT Delhi Organizes Annual National Level Industry Interaction Seminar

DMS-IIT Delhi Organizes Annual National Level Industry Interaction Seminar
Theme: Building India Inc. 2006 - "Sustainable Development"
On November 4-5, 2006 at DMS-IIT Delhi Auditorium, New Delhi

"Sustainable development is... development that meets the needs of the present without compromising the ability of further generations to meet their own needs."

- World Commission on Environment & Development,
Our Common Future, 1987.

Several institutions, universities and organizations have been discussing and deliberating on the issue of "sustainable development", which only speaks of the gravity of the issue in the present world. Sustainable development requires cooperation between industry and society as a whole, so that the country progresses in economic and social terms without causing any major disruptions. The progress should be founded on rational use of resources so that it can be perpetuated for future generations. The strategic dimension of "corporate social responsibility" in almost all organizations is developed on the same concept. To achieve sustainable development, organizations today adopt "triple bottom line" with economic, social and environmental dimensions.

A growing number of leading businesses are incorporating aspects of sustainable development into their corporate practices and public reports. As the concept of sustainable development receives increasing public attention, more companies may deem it necessary to develop strategies to evaluate related opportunities in order to address the expectations of public interest groups, investors, regulators and other stakeholders.

Sustainable development not only aims at the present profitability of the company but also looks at the sustained growth and increase in shareholder's wealth for years to come. Hence, it requires the focus on social and environmental dimensions. The growth of socially responsible investing, the rising number of environmentally and socially oriented shareholder actions and the introduction of sustainability concepts into legal and financial fora are all recent developments.

Although India is a land of rich natural resources, but economic growth has been accompanied by accelerated depletion of its natural wealth. This has resulted in deterioration of environmental quality. Even after continued development and growth, the level of poverty in India is staggering. India still ranks as low as 127th in the Human Development Index. Its ecosystems are highly degraded and the country is suffering from grave ecological crisis.

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