India being a developing country; it has vast economic potential. It the world's largest market for manufactured goods & services & ranks no 3 out of 141 economies. According to WEFS's Global Competitive index. But doing business is a troublesendevour because of corruption, fraud and unethical practices. Ethical business is the important organ of society which creates and ads revenue to the country's economy. This paper explains the need and importance of business Ethics over the unethical practices which is responsible to the development of our country