Ethical Business Governance for Viksit Bharat 2047: Lessons From the Arthashastra

This study explores the relevance of Kautilya's Arthashastra as a source of ethical guidance for modern business governance in India. Using a conceptual and comparative analytical approach, this study examines the convergence between Kautilyan governance principles and contemporary ESG (environmental, social, and governance)/CSR (corporate social responsibility) frameworks. As the nation strives towards the vision of Viksit Bharat 2047, economic development must be anchored in ethical, sustainable, and socially inclusive practices. A qualitative, interpretive, and conceptual approach underpins the analysis, which draws on thematic examination of Kautilyan governance principles and comparative mapping with contemporary business governance frameworks and selected Indian corporate practices. Building on these insights, the study proposes an Indic Ethical Governance Framework (IEGF) that operationalizes ancient wisdom in contemporary corporate settings through six interrelated pillars—truth and transparency, justice and fairness, duty and responsibility, protection from harm, welfare orientation, and environmental harmony. Each pillar is linked to concrete implementation mechanisms and evaluation indicators and supported by a staged adoption model to facilitate practical application. The findings suggest that leveraging India's indigenous knowledge traditions can strengthen institutional integrity, enhance stakeholder trust, and support sustainable development, thereby contributing meaningfully to India's journey towards a developed, inclusive, and ethically grounded nation by 2047.