Below is the verbatim transcript of the interview on the channel
Q: What's your view on unchecked capitalism?
A: Unchecked capitalism or capitalism without a contest, you saw many situations whether in equities or that happen as a result of no checks and balances or lack of conscience so to speak. I don't know whether it's reached a tipping point but there are number of companies Southwest Airlines, Starbucks that are well-known names who are embracing some version of these principals in their practices in the market place and are succeeding. So, I think the conversation is alive and well.
The business of business should be about doing business consciously, doing business with a sense of responsibility beyond just the profit that you make. These principles would resonate deeply with Indians who have got such a long history of consciousness, it is the home of Buddhism, great religious traditions of the world have come out of this country. So, the idea of bringing these two together seems very natural for Indian businesses to embrace that.
Q: It is interesting you say that because the general feeling within the government so far has been that the corporate sector is not doing as much as they ought to and that is there is going to be a new provision in one of our key economic legislations which will mandate companies to set aside 2 percent of their net profits for philanthropy. Forced philanthropy, is that a solution?
A: I am more of a carrot than a stick guy. I don't think it is the right approach.
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Forced philanthropy is not the right approach: Whole Foods
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