A model for inclusive growth

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SOCIAL RESPONSIBILITY is about leadership, respect for fellow human beings, and checks and balances. Multi Commodity Exchange of India Ltd (MCX) recognises its Corporate Social Responsibility (CSR) commitments in its various roles and treats this as an opportunity to integrate our stakeholders with our mainstream business and therefore call it Corporate Social Opportunity (CSO).

Through CSO, we seek to respond to public expectations on how a company should interact with its environment, to integrate its core business with that of general society and taking up merit-worthy causes and to optimise its positive impact on public welfare.

Using our domain strengths to make India’s process of economic growth more inclusive, MCX has initiated a unique Public-Private Partnership project with India Post to demonstrate sustainable business models that focus on the “bottom of the pyramid”.

To ensure the reach of the benefits of commodity exchanges in the recesses of rural India, a single-window service has been devised — through 155,000 post offices — for all the pre-harvest and post-harvest requirements of the farming community.

MCX has decided to have a close look at other aspects of Indian agriculture such as provision of quality seeds, fertilisers, and pesticides. MCX has tied up with a host of companies to provide quality agri inputs to farmers.

NABARD and Forward Markets Commission are active partners in this unique relationship through aid for 110 farmers training and awareness across various GSK locations. Tata Tele Services Limited is MCX broadband partner and also runs an interactive voice response messaging system for prices of potato and mentha.

Having gained deep insight over the two years of long extensive experience, MCX aims to bring in new partners within this platform and create a basket of services for farmers’ right at their doorstep.

The work we do explicitly creates awareness of leadership qualities and social responsibilities.

Business today takes not just a world view but a ‘life’ view. Life, in turn, benefits from some of the tenets of business success — innovation, focus, team work, managing change.

We always plan to energise and expand the field of our CSO activities in tandem with those who share our vision. The net result is significantly beneficial to the community.

Joseph Massey is CEO, Multi-Commodity Exchange (MCX)

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