Do you run a business? Follow these revised guidelines by Centre; 9 points to set things right

The central government has issued new guidelines for businesses to ensure responsible conduct by companies on Wednesday. Ministry of Corporate Affairs has revised the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business, 2011 (NVGs) and formulated the National Guidelines on Responsible Business Conduct (NGRBC). The ministry had issued the 'Voluntary Guidelines on Corporate Social Responsibility’ in 2009 to mainstream the concept of business responsibility. The guidelines were later revised in 2011 after consultations with business, academia, civil society organisations and the government. 

The ministry is also working on developing India’s National Action Plan on Business & Human Rights (NAP) in consultation with various Ministries and State Governments by 2020. A Zero Draft of India’s NAP demonstrating implementation of the three pillars of UNGPs has also been released and uploaded on the website of the Ministry.

The 9 revised guidelines that businessmen must follow are:

1. Businesses should conduct and govern themselves with integrity in a manner that is ethical, transparent and accountable.

2. Businesses should provide goods and services in a manner that is sustainable and safe

3. Businesses should respect and promote the well-being of all employees, including those in their value chains.

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4. Businesses should respect the interests of and be responsive to all their stakeholders.

5. Businesses should respect and promote human rights.

6. Businesses should respect and make efforts to protect and restore the environment.

7. Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent.

8. Businesses should promote inclusive growth and equitable development.

9. Businesses should engage with and provide value to their consumers in a responsible manner.