Vice-President Calls for Responsible Capitalism, Says Profit and Purpose Must Go Together

Vice-President Calls for Responsible Capitalism, Says Profit and Purpose Must Go Together

New Delhi: Emphasising the growing role of industry in national development, the Vice-President of India asserted that corporate investments in communities, sustainability, youth, and innovation are vital for building social capital and securing long-term economic growth.

Addressing a summit of industry leaders, the Vice-President observed that India is steadily transitioning from being an adaptor of technologies to an innovator. He urged businesses to adopt a global outlook, stating that India should not merely absorb global innovations but aspire to create solutions for the world to adopt.

Highlighting key policy reforms, including ease of doing business measures, digital governance initiatives, and the Goods and Services Tax (GST), he noted that these steps have enhanced trust, transparency, and efficiency within the system. However, he cautioned that policies alone cannot drive transformation, stressing that meaningful change occurs when government, industry, and civil society work in alignment — the core spirit of the summit.

Speaking on responsible capitalism, the Vice-President underlined that profit and purpose must move together. Legitimate profit earned with a commitment to societal welfare, he said, is both necessary and desirable. He added that innovation and inclusion, as well as growth and sustainability, must reinforce each other.

Expressing confidence that the deliberations would result in fresh commitments and replicable models, he encouraged corporate leaders to think boldly, invest strategically, and measure impact rigorously. CSR, he remarked, should be viewed not as an expense but as nation-building capital.

He also called upon media organisations to provide greater visibility to development-centric stories, asserting that positive narratives strengthen public trust in a vibrant democracy.