6 October 2012. Indian arm of United Nations body Global Compact Network India (GCNI) has come out with a unique book titled “Raising The Bar Through Collective Action”. It has presented nine case studies including that of big public and private sector firms like GAIL, Tata Steel and Infosys, which took innovative steps to mitigate corruption and improve corporate governance in their firms. For the first time, major Indian companies, both public and private sector have come forward to share their experiences to fight against corruption. The book presents how these companies stand against corruption which leads them to rich financial rewards in terms of savings and increased clientele. The book presents nine case studies of public and private sector firms like Gas Authority of India GAIL Limited, Tata Chemicals, Tata Steels and Infosys. The book was released by veteran journalist-columnist and diplomat Shri Kuldeep Nayar. While government-owned GAIL made its entire billing process more transparent and user friendly, Neyveli Lignite Corporation (NLC) implemented e-procurement system and online integrated material management system to prevent corruption and encourage transparency in their business dealings. GAIL’s case study explains that delays in payments lead to opportunities for corruption. It has said that a transparent mechanism to ensure time bound processing of vendor payments accompanied by increased accountability at dealings at officer levels was identified as the need of the hour. The book also includes a case study of public-private joint venture ‘mjunction services ltd’, a JV of Steel Authority of India Ltd (SAIL) and Tata Steel. The JV through its initiative transforms the manner in which secondary steel (which comprises scrap and defective steel) was being sold in the country. By leveraging IT tools and internet in the supply chain of secondary steel, the joint venture eliminates black marketing, cartels and intermediaries in the business. The book will be an eye opener for public and private sector companies and enable them to conduct their businesses in open, transparent and corruption free environment.
May 19, 2012
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