International Journal of Science and Research (IJSR) ISSN (Online): 2319-7064 Index Copernicus Value (2015): 78.96 | Impact Factor (2015): 6.391 Volume 5 Issue 12, December 2016 www.ijsr.net Licensed Under Creative Commons Attribution CC BY Make in India: Role of Professional Ethics Deepika Vig 1 , Lata Sati 2 1 Professor, Department of Human Development and Family Studies, College of Home Science, PAU, Ludhiana, Punjab 2 Research Scholar, Department of Human Development and Family Studies, College of Home Science, PAU, Ludhiana, Punjab Abstract: Make in India is a wonderful initiation aimed at attracting business houses from around the world to invest and manufacture in India. This will lead to economic development of the country through increased productivity and skill development. Professionalism will be at its height. Youth will be benefitted from increased job opportunities. Economic development will lead to further development i.e. education, health, improved life style (materialism). Along all these positive aspects, there also arises the need for adopting ethics in professional life. Professional ethics encompass the personal, organizational and corporate standards of behaviour expected of professionals. Professionals and those working in acknowledged professions, exercise specialist knowledge and skill. How the use of this knowledge should be governed when providing a service to the public can be considered a moral issue and is termed professional ethics. Professional ethics demands Honesty, Integrity, Transparency, Accountability, Confidentiality, Objectivity, Respectfulness, Obedience to the law and Loyalty on the part of professionals. Ethics for employer as well as employee are important to protect and maintain human rights. However there are many instances that have depicted that Professionals are failing to meet appropriate standards of care due to corruption, deliberate wrong-doing etc. It is recommended that to ensure practice of ethics in professional world it should be incorporated in curriculum of professionals so that everyone is aware of their responsibilities towards humans and society in general. It is only then, that make in India can be a holistic and inclusive approach for development and everyone can take advantage of such developmental initiative. Keywords: Professional Ethics, Economic Development, Human Development, Human Values 1. Introduction Make in India is an initiative of the Government of India to encourage multinational, as well as domestic companies to manufacture their products in India. The major objective behind the initiative is to focus on job creation and skill enhancement. The initiative also aims at high quality standards and minimizing the impact on the environment. The initiative hopes to attract capital and technological investment in India. "Zero Defect Zero Effect” is a slogan coined by Prime Minister of India, Narendra Modi which signifies production mechanisms wherein products have no defects and the process through which product is made has zero adverse environmental and ecological effects. Corporate governance enables corporations to perform efficiently by preventing fraud and malpractices. The „Code of Best Conduct‟, policies and procedures governing the behavior of individuals of a corporal form part of corporate governance. This enables a corporation to compete more efficiently in the business environment and prevents fraud and malpractices that destroy business from inside. According to Ridhima (2014), the concept of corporate governance, has gained crucial place not only in India but all over the world. It has brought up several questions on the consistency of human behavior that sparks up at times when remunerations are discussed. A need and change is truly required to shape up the disturbing face of business to make ethical presence more effective for longer sustainability of today‟s business entities. With rapid growth and internationalization of businesses, there is an urgent need to examine the vocabulary of business organization to include deliberately sustainability, ethics, governance and corporate responsibility. Therefore, Professional ethics is a concept that needs to be incorporated in this business world. Researchers found area of concern due to which unethical behavior is taking place. Firstly most employees in the organization specially the young and new ones face ethical dilemma in their functional area at the early stage of their career. Secondly, lack of awareness about their corporate responsibility, ethical code of conduct and thirdly, despite high end demand for corporate, people are more centric. When ethics in business world will be practiced it will lead to holistic human development as different researches suggest that how economic development leads to human development directly or indirectly. Ranis et al. (2000) found that low economic growth lead to low human development and vice versa. Income growth clearly strikes as the main contributor to directly increasing the capabilities of individuals and consequently the human development of a nation since it encapsulates the economy‟s command over resources (Sen, 2000). Education also affects the rate of innovation and technological improvements (Duflo and Esther, 2001). Educating and skilling India‟s youth by improving access to tertiary education and increasing the completion rates have significant implications for the economy (Government of India 2011). Amparo et.al. (2010) conclude that “if one percent of the adult population were to complete tertiary education instead of completing only primary school, the annual growth rate could increase by about 4 percentage points”. They also find that a one percent change in tertiary education has the same effect on growth as a 13 percent decrease in illiteracy. Along with this it will definitely reduce the problem of migration as India is facing brain drain based on aspects of human capital i.e. education and skill level. Migration from the perspective of some of the states can affect their growth trajectories and potential development (Chandrasekhar and Sharma, 2014). Paper ID: ART20162394 987