New Delhi: The five-day World Economic Forum (WEF) kicks off at Mountain Resort Davos in Switzerland from Tuesday. Wipro Chairman Azim Premji who is one among the delegates said that corruption is a concern.
Speaking to CNBC TV18 Corporate Affairs Editor Menaka Doshi , Premji said stemming corruption is crucial to ensure development in all spheres.
Here is an excerpt from the interview:
CNBC: I think the events of the last 2 years have exposed several gaps in governance - in the ways businesses run themselves in the country as well. Do you think there are any lessons that businesses are taking away from that?
Aziz Premji: The very simple lesson is you can't clap with one hand if there is a receiver who takes and there's a giver who gives. And I think it's very important that industry leaders establish a much higher standard of governance. I think it's very important that critical trade associations and industry associations have a process of ombudspersons who are empowered to throw out members who don't follow.
CNBC: How endemic is corruption?
Aziz Premji: I won't use the word endemic. I would say it is present and it is present in a degree much higher than it should be. And part of that is because our enforcement of laws are not quick enough and strict enough.
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