Kolkata: "Corporate Social Responsibility is to be taken from 'Company's Vision' to 'Country's Vision'," said Salman Khurshid while inaugurating the 38th National Convention of Company Secretaries here today, emphasizing the role of Company Secretaries in corporate sector.

Referring to the corporates being the cutting edge to economic growth, he spoke about the importance of corporate democracy, industrial democracy, stakeholder dialogue with the board, etc. He referred to Company Secretaries as centre points in not only advising and guiding the boards of companies but also cautioning them against any mis-governance.

He stated that an injury to the company is an injury to the entire system and quoted the examples of the Satyam Scam and Bhopal Gas Tragedy. "The attitude and culture towards inclusive growth has to be inculcated and nurtured in all corporates," emphasized Minister.

The Minister welcomed the recommendations of the Parliamentary Standing Committee on Companies Bill which covers various aspects including Secretarial Audit, rotation of auditors, role of independent directors, etc.

While concluding, the Minister said that Corporate Social Responsibility (CSR) is no longer charity or philanthropy and should be imbibed in the corporate culture that leads to responsible business. He also emphasized the role of Company Secretaries in companies.

Secretary of the Ministry of Corporate Affairs R. Bandyopadhyay, while delivering his address at the ICSI Convention, stated that the Ministry of Corporate Affairs has a special attachment towards the Company Secretary profession.

"The upliftment of "Aam Admi" is crucial for economic growth and the entire Ministry is working towards this direction," he stated. He also spoke about the India Corporate Week-2009, covering two themes namely Corporate Governance and Corporate Social Responsibility. He informed that the ministry had held 124 programmes during the India Corporate Week.

Referring to the strength of the Indian economy, Mr. Bandyopadhyay said the economic recession of 2008 had not made a major impact on Indian economy and the country was still able to achieve 6.5% Gross Domestic Product (GDP) growth rate.

Probably, in one or two years India may achieve 10% GDP growth rate also. But the challenge is the development of 500 million people in the country who do not have access to basic needs.

In this context he emphasized that CSR should be inbuilt in the culture of the company. "Equality of growth process and equitable dispersal of resources is crucial for inclusive growth," reiterated Mr. Bandyopadhyay, emphasizing that the professionals being the eyes and ears of the Ministry, should ensure compliance of law in true letter and spirit.

H M Bangur, Managing Director of Shree Cement Ltd. in his key note address said that the fundamental philosophy of the business is to serve the society. He said that the Indian corporate sector with its present focus on inclusive growth is continually broadening the scope of its activities with corporate social responsibility, in order to address the long term needs of the society.

U. Venkataraman, Executive Director of MCX-SX Ltd. in his special address said that '3G' is the buzz word covering three aspects namely, inclusive growth, corporate governance and creation of new generation investors. He spoke at length about the investor awareness programmes of the Ministry of Corporate Affairs, SME Exchange, etc.

Vinayak S. Khanvalkar, President of Institute of Company Secretaries of India (ICSI) said that business leaders are advised by professionals like Company Secretaries on various business issues such as Corporate Strategy, governance, disclosures, policy decisions etc.

As the governance and sustainability initiatives are baseline of inclusive growth, the role of Company Secretary in this respect has been substantially raised. He spoke about various ICSI initiatives for its members, students, etc.

Anil Murarka, Vice President of the ICSI and Chairman of the Convention Organizing Sub Committee in his welcome address said that the development of agriculture, labor technologies and development of rural population are crucial for inclusive growth of the nation.

S Kumar, Principal Director of the ICSI proposed a vote of thanks.

Earlier, Mamata Binani, Chairman, EIRC of the ICSI had introduced the dignitaries on the dais.