Page 92 - NITI - Navigating Indian Traditions in Industry

a positive impact on society and the environment. The concept of dharma in these
texts, which refers to the right course of action and duty towards others, translates into
businesses’ ethical responsibility to act with integrity, fairness, and a sense of social
duty.

The Vedas emphasize that businesses must serve a higher purpose than mere
financial gain, aligning with today’s call for businesses to contribute to sustainable
development, social welfare, and environmental protection. The Upanishads further
underscore the interconnectedness of all beings, which aligns with the modern CSR
philosophy of creating value not only for shareholders but for the entire ecosystem—
humans, society, and nature.
The Vedic and Upanishadic teachings advocate for selfless action, where individuals
and organizations are encouraged to act without attachment to outcomes, focusing
on the welfare of society rather than personal gain.
Example from the Upanishads: “When one’s actions are in harmony with the greater
good of the universe, one achieves true fulfillment.”
This principle is deeply related to modern business ethics and CSR, where businesses
that align their goals with societal welfare, sustainability, and the environment are
seen as fulfilling their higher purpose.
Similarly, in the Bhagavad Gita (3.20), the principle is expressed:
“One who performs their duty selflessly without attachment is the highest form of
action.”

This reflects modern corporate practices where businesses are encouraged to adopt
sustainable practices and ethical strategies that benefit not only the company but also
society as a whole, without being driven solely by profit motives.

5.4.2 Modern Laws Derived from the Vedas and Upanishads:

The teachings of the Vedas and Upanishads have influenced modern business ethics,
CSR, and environmental laws in numerous ways. Below are a few examples of how
ancient teachings resonate in today’s corporate legal landscape:

Sustainable Business Practices and Environmental Stewardship: The Vedas
and Upanishads emphasize the interconnectedness of all living beings and the
need to protect the environment. This ecological awareness is reflected in modern
environmental laws that mandate businesses to consider their impact on the
environment and adopt sustainable practices.

Example:1
The Environment Protection Act, 1986 and subsequent laws in India ensure that

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