More companies have tried to incorporate 'Corporate Social Responsibility' In to their business strategy and this is clear evidence that companies are becoming more socially responsible, Somany said.

Later speaking at a seminar on Corporate Social Responsibility (CSR) organised by the Cochin Chamber of Commerce and Industry here, Somany said that such integration suggests that the companies benefit from new opportunities, improved performance and reduced hazards in making their operations viable and more sustainable.

''Companies have also realised the importance of CSR and in recent years the scope of social responsibility by corporates has widened,'' Somany said. N R Pai, president, Employers' Federation of Southern India and president, Cochin Chamber of Commerce and Industry, P C Cyriac, former secretary, industries, Tamil Nadu, V B Cherian, senior trade union leader and Sharad S Patil, secretary general, Employers' Federation of India, also highlighted thje loss to the state due to the industrial relation situation.

Presentations were also made by Tata Tea Ltd, KSE Ltd and Kudumbasree on social responsibility by corporates. The Kudumbasree focussed on the Kerala experience by the Kudumbasree units. Patil, another leading industrialist, said that the service industry was showing signs of taking its roots in the state. Commenting on the election results, the industrialists felt that the country's economic growth would not be affected by whichever government comes into power at the centre.