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Economic summit says: New breed of entrepreneurs can drive corruption out........

Created by : Anamika Roy , Freelancer, IT Services  | 11 16 2010 06:01:17 +0000
Industry : Hedge Funds/VCs/Private EquityFunctional Area : Success Stories(Entrepreneurship)
Keywords : entrepreneurs startup drive out corruption indian economic summit new breed of entrepreneurs
Activity:  236 views;  last activity : 12 19 2010 07:42:25 +0000

I saw an article in the Bussiness standard which said that new breed of entrepreneurs will drive out corruption from the country. And this was said in the recent Economic summit which is happening. The challenge of combining growth with integrity to ‘design out corruption’ and create processes that will help India perform better on the transparency and integrity index was today addressed at the India Economic Summit and the consensus was that rectification of processes and the idealism of a new breed of Indian entrepreneur would help in driving corruption out.

Do you really think this new breed of entrepreneurs will drive corruption out?? Share your views on this....

  
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I think they can and India now just being the world's back office is also gearing up for the entrepreneurship revolution.   Corruption hurts economic efficiency and the corrupt steal from the poorest, But now, honesty and integrity is part of a business model for these new breed of entrepreneurs. And 30 per cent of India’s GDP goes to government procurement, which needs a clean and transparent system. In India its like “The more the regulation, the more the chance of bribery,” So, we need people to change their mindset and its starting with entrepreneurs who won't budge for such things, and will remain transparent on all occassions.
By Anamika Roy , Freelancer, IT Services  11 16 2010 06:01:17 +0000
 
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Corruption is really a socio-economic phenomenon, I have heard an argument so many times that people indulge in corruption, since their income is not enough. So what explains, corruption by high ranking officials and business people? What has happened is that, We have a culture of power appeasing in India. The more power and influence, one has in society, the better it is considered. This attitude has led to corruption in every sphere in life. Its not a govt. vs private sector issue. There's corruption in govt., there's corruption in private sector in different form. Entrepreneurs can encourage a system, where's there is less incentive to be corrupt. Entrepreneurs have to be innovators to succeed. It is entrepreneurs who will develop new economic and business models, so as the culture of power appeasing becomes obsolete, and there's 'incentive' to be honest in action and intent. One more point to consider is to distinguish between entrepreneurs and rentiers. Entrepreneurs create and exploit change, they use 'technology' to convert scarcity into abundance. Whereas Rentiers are just rent seeking on their monetary investments. So don't be confused about rentiers and entrepreneurs.
By Abhijit Anand Prabhudan, Admin/Facilities Manager, Ca*****  | 12 19 2010 07:42:24 +0000
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It does not seem very possible. We cannot ignore the fact that the government is corrupt from every nook and cranny and a new enterpreneur may not be able to start his business even, if he does not succumb to the whims of these officers.
By Gayathri Subramaniam, Manager - Credit Management, Corporate Banking, AXIS Bank  | 12 07 2010 14:57:19 +0000
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New Entrepreneurs bring with them new ideas, dimensions, attitudes, ethics & Spirit to develop their business in an open world free from all negativity... If Supported & Sustained, then they can really help in overcoming corruption...
By Mohammed Sarfaraz Alam, Team Lead - Process Design & Quality Control, Powertech Automation Solutions  | 12 07 2010 08:24:35 +0000
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it is serious matter it is effecting every one. government should bring more transpearecy in all tranctions and made public governent bring new strict law to deal this matter
By cmsrinivas , SalesManager-autoloans NBFC  | 12 07 2010 07:49:36 +0000
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INDIA is growing fast..., now the delay regarding the Corruption will get down... atleast the VOICE raises in high pitch.
By Govardhana , Purchase Engineer, Starion INDIA Pvt. Ltd  | 12 07 2010 07:30:18 +0000
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I am of the opinion the corruption will go away but it will take time. If you see the current scenario it is really bad say wheather it is 2G, or CWG or for that matter anything.

The Indian citizens are getting smart and will be the main force in eradicating corruption. 

So the young enterprenures will take a cue from this and will ensure the same. 
By Rathin Deb, Freelance Retail Consultant  | 11 30 2010 05:27:13 +0000
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Let us wish them all the best sincerely and pray God they achieve so that India soon becomes a super power in the world.Hats off to them.
By s.baalu , Consultant, XYZ LTD  | 11 24 2010 13:41:18 +0000
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I completely agree to this. Our fore fathers have achieved nothing in these 60yrs of independence. Only the current generation can bring out the desired changes in the country.
By Pragya Kothari, Construction-Heavy, DLF  | 11 16 2010 07:10:02 +0000
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I agree with you manish its not a new born it was spreaded allover already so their is no point of talking now atleast we can control so that indian future will be good...
By kavitha sivam, Assistant Professor, apce  | 11 16 2010 06:39:43 +0000
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First of all this CORRUPTION disease already spreaded into the every nerve system of INDIAN GOVT...... Today's time it is IMPOSSIBLE to weed out corruption from our society.... But we can contain it from spreading further and it can be done by the educated youth of india......
By Manish Lalla, M.M.S student, H &GHM INSTITUTE OF MANAGEMENT  | 11 16 2010 06:28:57 +0000
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No, young entrepreneurs won’t be able to win the fight with corruption. Because it’s a never ending process in India. It can be controlled but it can’t be eradicated. Government has to step in along with the private institutions & the other retired military officials to control & make some strict rules for the Culprits.

In India Corruption & Growth are good friends.
By JOGINDER SINGH CHANDNANI, CSS (Customer Service Specialist), Infiniti Retail  | 12 19 2010 05:35:49 +0000
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Are they dreaming? OR this report is anyone's dream?
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 11 24 2010 14:00:30 +0000
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Corruption is a serious matter. A person who suffered may try to drive it out. But the force of corrupts is so huge that, it is capable of changing a one's mindset to be corrupt. One man can't bring change. As recently seen for corruption even sky is not the limit. Its impossible unless there is a revolutionary changes in responsibility matrix and speedier results with stringent punishment.
By Nilesh Jain, Project Manager, A Leading Media/Telecom Co.  | 11 16 2010 11:47:09 +0000
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Sorry Anamika,

It is, not by the breed of New Entrepreneur who can transform this corruption aspects. Entrepreneur are more often enticed to the lure of corruption. Because of their initiative to mobilize the start-up's. Removing corruption from the Indian society lies with every individual who are living in India or Abroad. As long as the Word," commission " exists in practice , this will continue. However, efforts can be made to reduce as much as possible by the Individuals who are selfless and determined to sacrifice their soul for the progress.

What so-ever, the level of transparency is made available & automatic mechanism introduced in transaction, the element of human-being is unavoidable that's what creates corruption.
By KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed  | 11 16 2010 07:42:54 +0000
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