We are about to enter a period of prayer, festivities and family celebrations over Christmas which remains the biggest religious festival in the West. The tradition is that at 3pm UK time on Christmas Day, the King will give his address to the nation, and as he is such a passionate believer in faith, inclusion and diversity, this will be a centrepiece of his message. Many years ago, King Charles started a movement A4S, which places accounting reform at the centre of planetary sustainability, something that I am also passionate about.
Unfortunately, faith has been divorced from finance for decades and bridging the two has become virtually impossible in the academy. So much so that even today people laugh about the phrase ‘Ethical Finance’ – they see it as a joke and contradiction. This scepticism is justified. India is motoring towards more economic boom and in such times, it can be very easy to feel satisfied when in reality Dharma is being replaced by greed and materialism.
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As I pack my bags for my trip to India to launch my latest book on ‘Sustainable Finance’, I am reflecting on how to convince the rich and powerful to think and act differently about finance. How can they stop becoming arrogant and complacent about their riches? How can they be convinced to use this opportunity to steer finance towards a sustainable India, including reforming the content and methods of business and professional training?
I want to convince entrepreneurs to help change the very science of Indian business towards more patient and long-term capital, where animals, communities and nature are taken into account. I hope and pray that the millions of small and medium family businesses which have been the backbone of Indian economic progress do not get swallowed up by the western model of corporatism and exploitation.
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As a Non-Resident Indian, I want to use my foreign perspective to remind Indian students about their own beautiful business history and sustainable practices which have been hiding in plain sight. I hope to start a revolution in Indian business research and training.
Wish me luck and pray for this education revolution. Its time is nigh.
Professor Atul K. Shah [@atulkshah] teaches and writes about Indian wisdom on business, culture and community at various UK universities and is a renowned international author, speaker and broadcaster.