Compliance with the standards established by the laws is part of your organizational duties to build trust and credibility
DELHI, INDIA, June 10, 2022 /EINPresswire.com/ — “Compliance is often seen as a liability rather than an asset.”
Compliance with standards established by laws is part of your organizational duties to build trust and credibility, just like the fact that a product must comply with applicable standards or requirements to enter the market.
We have come across the finest examples of – why compliance with standards is a necessity?
As you may know, more than 3.96 lakh companies have been removed from official registers for non-compliance with laws and regulations in the last 5 fiscal years, as of December 2021.
Recently, during a disaster management meeting, it was decided to start a campaign against illegal water bottle packaging factories in the district of Kamrup city.
More than 70 lakh toys were held back for failing to achieve BIS certification.
BIS authorities in Kochi raided a transformer manufacturing unit in Aluva, for the production and manufacture of uncertified transformers.
I hope it is clear from the above data that for consumer protection it is mandatory for a business/company, product and utility to comply with the standards, since non-compliance with the standards in accordance with established regulations and laws could harm the reputation of the company/product.
If we see the bigger picture, then we may be able to understand how an uncertified product or a company/business that does not meet prescribed standards can affect economic development. Whereas, if a business or product is produced legally and ethically, this provides a clear path for government to control different aspects of economic development, for example the employment generated by a business/business, the safety of end consumers, the labor force participation rate, etc.
Thus, one can easily conclude that compliance and economic development go hand in hand.
However, is there an easy way to make everyone understand why compliance with standards is an asset and not a liability?
Apparently, we are to meet Mr. Rishikesh Mishra, at a seminar, and during our chat, he explained, “how compliance with requirements, standards or regulations adds value to economic development”.
As CEO and Founder of India’s No.1 Compliance Service Provider – JR complianceit has a clear vision and track to ensure compliance with laws and regulations that will eventually benefit the economy.
As we were curious how he would answer our question, we certainly agreed, this was the simplest, yet impressive answer. To quote him, “Compliance with prescribed standards is often seen as a liability rather than an asset, thus most companies/manufacturers do not consider it essential to maintain these standards. However, in the race to become the best among their competitors, they forget to emphasize the most important aspect that a certified and registered product or company establishes trust and credibility. And they end up losing their valuable clients/clients. If I have to put it in a few words, I would say that non-compliance is a risk in itself.
We were captivated when we heard him, as it’s understandable that he did an in-depth analysis of regulations and ethical standards, including how economic development aligns with compliance with compliance.
Along with imparting knowledge to us, he also mentioned that to help in taking better initiatives, they have also recently collaborated with the Delhi government to provide free consulting services to students under the Business Blaster program. The motive behind such an initiative was to maintain compliance with standards.
Apart from taking initiatives to develop India, JR Compliance has also provided over 200 compliance services through its professional and experienced team of over 100 employees.
JR Compliance’s efforts, on an individual and corporate level, are truly inspiring.
Kudos to Delhi Government and JR Compliance for taking the right initiative to mold young minds.
Along with this, JR Compliance believes that true compliance goes beyond just complying with the regulatory framework, but it is to ensure security and reliability, which is probably why, they provide compliance services all over the world , as well as more than 200 Indian Compliance ServicesJR Compliance also provides more than 50 global compliance services in more than 150 countries.
We are sure that JR Compliance follows the trail to ensure compliance with standards or requirements for the development of a company / business / manufacturer / importer worldwide. And we are confident that they will soon be able to embed compliance into everyone’s duties to the community to which they belong. We can’t wait to see such a change in our country, a change that we could all have imagined.