In a perfect market economy, where all externalities are internalised by the companies and paid for by the consumers, a market leader will also be an environment leader. The ground reality is, however, different. Take the example of Grasim Industries Ltd, which became the biggest cement company in the country after acquiring the cement division of Larsen and Toubro in 2003-04.
Having done precious little to clean up its polluting act in the past 30 years, a Kerala factory is indirectly blackmailing the state government with a closure notice if it does not get raw material at dirt cheap rates
