Tata takes PM's cue, calls for social responsibility

Taking a leaf out of Prime Minister Manhohan Singh's book, Tata Group Chairman Ratan Tata today asked the private sector to focus on social development of the country.

"While we grow we must not forget the fact that there are numerous people living below the poverty line, especially in rural areas," Tata said at a function organised by the Bombay Chamber of Commerce and Industry (BCCI) at its 171th annual general meeting.

The chamber also felicitated Tata for his contribution to the industry.

"Both the public and private sector have a great deal to look forward to. But they also have a great deal of responsibility towards the society at large."

Tata said the corporate planning should embody responsibility besides laying down a path for profit maximisation.

The occasion also marked the beginning of the tenure of Novartis MD Ranjit Sahani as president of the chamber and IDFC MD Rajiv Lall as vice president.