Ludhiana: In a bid to apprise Indian companies of their social responsibilities, the Bureau of Indian Standards (BIS), a national standards body, will develop a new standard for Corporate Social Responsibility which is expected to come out in a year.
“The main objective of coming out with a standard for corporate social responsibility is to inform companies about what their obligations toward society are and to what extent they are following them,” BIS, Deputy Director General, S M Bhatia told PTI here today.
BIS has constituted a committee for the formulation of this new standard on the lines of International Standards Organization (ISO) which will come out with it in a year.
BIS has also recently developed a new standard called IS 15700 for service industry and the union government is in the process of making it applicable in several public utility services, said Bhatia.
Giving importance to the safety of consumers while using a particular product, BIS has decided to focus on revising as well as coming out with safety standards for consumption and other usage purposes.