Time To Rebuild Trust Between People And Corporates

DAVOS: As the World Economic Forum's annual Davos meeting begins here today, co-chair Hari S Bhartia has called for rebuilding trust between people and corporations and adopt 'business for livelihood' as a theme for Indian and global economies.

"As the devastating effects of the financial crisis have receded from their full fury, this is the best time to rebuild trust between people and corporations.

"And that cannot be done unless we create the conditions that will give people a better future - a relief from the clutches of hunger, scarcity of water, poor sanitation and lack of adequate healthcare," said Bhartia, Co-Chairman and Founder of Jubilant Bhartia Group.

Bhartia is one of the co-chairs this year for WEF's Annual Meeting 2015, a five-day high profile global summit that would continue here till January 24.

In an article written for the Forum, he said business leaders have increasingly come to recognise that corporations are both social and economic entities and "a clarion call of 'Business for Livelihood' would be one of the most effective ways to ensure that we can creatively and effectively re-imagine the future of the entire planet in this new global context.

"The rate of combined unemployment and underemployment in developed nations ranges between 4 per cent 12 per cent high and is as per cent and is as high as 30 per cent for non-industrialised countries.

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