A Critical Dissection Of Corporate Integrity In India's Optical Industry: Multilayered Perspectives On Ethical Deviance, Governance Failures, And Regulatory Disjunctures
Abstract
India’s optical industry, a rapidly expanding sector driven by technological advancements, rising health consciousness, and evolving retail models, is increasingly confronted by serious concerns regarding corporate integrity. Amid growing competition and commercialization, ethical transgressions such as deceptive marketing, substandard product quality, inaccurate prescriptions, and pricing opacity have become widespread. These issues point not only to individual corporate failings but also to systemic governance breakdowns and fragmented regulatory oversight that collectively undermine consumer trust and market integrity. By adopting a multidisciplinary analytical approach rooted in stakeholder theory, corporate governance frameworks, and ethical decision-making models, this paper dissects the structural, cultural, and institutional dynamics contributing to ethical erosion across the industry. Regulatory institutions—including the Bureau of Indian Standards (BIS), Central Drugs Standard Control Organization (CDSCO), and Advertising Standards Council of India (ASCI)—are evaluated for their limited coordination, inconsistent enforcement, and reactive approaches to oversight. Internally, many firms demonstrate insufficient ethical governance, weak compliance infrastructures, and a prevailing prioritization of profit over accountability. Drawing upon industry reports, consumer grievances, regulatory data, and expert interviews, the analysis reveals a persistent tolerance for ethical compromise embedded within both corporate cultures and regulatory practices. The paper calls for a recalibration of governance norms through coordinated regulatory reform, mandatory ethical audits, and leadership accountability. It also emphasizes the need for industry-wide ethical codes, consumer education, and stronger whistleblower protections to create a culture of transparency and responsible business conduct. Strengthening ethical integrity in India’s optical sector is not only critical for safeguarding consumer welfare but also essential for building resilient, trust-based market systems in emerging economies. A comprehensive realignment of regulatory and corporate ethics is imperative for sustainable and responsible industry growth.
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