Large number of employees of Indian industry are vulnerable to HIV, noted by the World Bank. India’s private sector stands to gain by supporting interventions aimed at preventing the virus from spreading at the workplace and in local communities.
“As India emerges as a global economic power, it is important that Indian businesses pursue business practices and policies that are in the best interest of the community at large,” Mariam Claeson, the World Bank’s HIV/AIDS Coordinator for the South Asia Region said in a release.
“Businesses have much to offer and to gain from early decisive action to prevent HIV and reduce the cost and social impact of AIDS,” she added.
The report “Corporate Responses to HIV/AIDS” says a large share of India’s population, who are employees of Indian industry are vulnerable to HIV, and the disease affects primarily young and middle-aged adults during their peak productive years.
It said AIDS has a direct impact on companies’ profitability in hard hit countries. In the worst case scenario, the economic effects are observed in greater absenteeism and staff turnover, higher recruitment and training costs, and higher costs in medical care or insurance coverage, and retirement funds.
“Even in countries with overall low HIV prevalence, such as India, the mere cost of treating people living with HIV and AIDS will be a huge economic and social burden to society. Early decisive action by companies, that reach a large share of the population at risk, pays off,” it said.
The bank noted that only 70 companies in India were engaged in fighting HIV and AIDS. “Despite the important role that Indian businesses can play in the fight against aids and in tackling stigma associated with aids among its workforce, only a small share of the private sector – around 70 companies – are engaged in fighting HIV and AIDS”.