"There is a complete shattering of trust in institutions - both businesses and government - and leaders of all those institutions...One is to be integrated with one's society and one's surrounding and to be true to the own values and principles," Maira said while addressing a CII event on Governance : Moral Leadership, Integrity and Transparency,.He said there is a need for people themselves taking charge of the situation and the leaders must understand that they are integrated in the system.
"In government, in politics, the best leaders are surely those who understand people and who are with the people. And so in businesses, we need to have people on board who understand the domain, understand the people," he added.
He also said that crony capitalism is a result of too much closeness of the businesses with the government and very little transparency.
Maira said there is a need to reshape the institutions to bring more transparency into the system.