Trending Articles

Customer Perception Towards Push Notification Marketing Strategies Practiced By Companies

Authors: Aalok Agashe et al.

Issue:

Vol. 12 No. I and II (2023): Jan - Dec

Views  890

Risk Based Supervision

Authors: CA R S Raghavan

Issue:

Vol. 7 No. I (2018): Jan - May

Views  750

CSR Initiatives and Sustainable Development Goals in the Indian Pharmaceutical Sector: A Comprehensive Analysis

Dr. Subhranshu Mohanty , Nimmagadda Sai Alekhya , Vinod Raj Mohan
Asst Professor, AIMT Greater Noida
Research Scholar
Senior Manager, Ernst &Young LLP
Dr. Subhranshu Mohanty, Nimmagadda Sai Alekhya, Vinod Raj Mohan . (2024). CSR Initiatives and Sustainable Development Goals in the Indian Pharmaceutical Sector: A Comprehensive Analysis. AIMT Journal of Management, 13(I & II), 31-44.
Published by
Article outline
Article info

Abstract

This research presents a comprehensive analysis of CSR initiatives undertaken by Organizations in the Indian Pharmaceutical Sector and their contribution to sustainable development. Structured into five chapters, the study begins with an introduction covering key definitions, CSR activities in India and the SDGs. The literature review evaluates few sources, including various research works from reputed journals, and various newspaper articles, identifying gaps in existing studies. The research methodology details the research process, including respondent nature, sample size, variables, and statistical tools used for data analysis. From the SPSS software primary data of 500 respondents has been analysed, with statistical tests such as ANOVA, F-test, and Chisquare applied to draw meaningful insights. The findings, conclusions, and recommendations are systematically presented, offering practical suggestions to enhance CSR practices. In a vibrant fusion of corporate generosity and strategic vision, a study highlights the impactful saga of CSR in the fiscal year 2023- 24. A sum of `19 crores, contributed by 7,000 Organizations, has significantly advanced 15 of the 17 Sustainable Development Goals (SDGs). Crucial areas like skill development, poverty eradication, Environment and healthcare have become the battlegrounds where these Organizations strive to forge a sustainable future. This research not only celebrates the current achievements but also offers a blueprint for enhancing the effectiveness of CSR initiatives, ensuring they remain a cornerstone in the quest for a better world.

Keywords

CSR Sustainability SDG Sustainable Goals sustainable development

References

  1. Ataniyazova, Z., Friedman, B. A., & Kiran, P. (2022). Socio-economic benefit perception of CSR in developing
  2. countries. Journal of Business and Economic Development, 9(1), 65–79.
  3. Baker, M. (2012). Four emerging trends in corporate responsibility. Journal of Global Business & Corporate
  4. Responsibility, 19(4), 30–40.
  5. Beam, S., Sarbpriya, A., & Agarwal, R. (2012). Aclose look into corporate social responsibility in India. Indian
  6. Journal of CSR Studies, 8(3), 120–130.
  7. Begum, S. (2021). Contribution of CSR during the COVID-Pandemic. International Journal of Business and
  8. Society, 12(3), 88–102.
  9. Chatzopoulou, E., Manolopoulos, D., & Agapitou, V. (2022). Impact of CSR on firm performance and external
  10. stakeholder involvement. Corporate Governance & Sustainability Review, 18(4), 400–415.
  11. Chitimira, H., Hamadziripi, F., & Mopipi, K. N. (2022). CSR and socio-economic development in South
  12. Africa. International Journal of Business Ethics, 19(3), 278–290.
  13. Isaksson, M. (2012). CSR in a developing country: A Swedish case study. Scandinavian Journal of Business
  14. Ethics, 20(1), 77–89.
  15. Kolli, S., & Srikanth, P. (2020). Indian businesses' participation in CSR during COVID-19. Business & Society
  16. Review, 22(4), 145–160.
  17. Mishra, L. (2021). Corporate social responsibility and sustainable development goals: A study of Indian
  18. Organizations. Journal of Public Affairs, 21(1). https://doi.org/10.1002/pa.2147
  19. Mitra, N., & Chatterjee, B. (2020). India's contribution to the sustainable development goals (SDGs) with
  20. respect to the CSR mandate in the Organizations Act, 2013. In S. O. Idowu, R.
  21. Schmidpeter, & L. Zu (Eds.), The Future of the UN Sustainable Development Goals (pp. 383–396). Springer
  22. International Publishing. https://doi.org/10.1007/978-3-030-21154-7_19
  23. Mohanty, J. (2022). CSR efforts in Indian firms. Journal of Corporate Practices and Policies, 14(2), 123–137.
  24. Patil, R., Kulkarni, S., & Joshi, A. (2017). Effect of CSR on socioeconomic development. Indian Journal of
  25. Corporate Social Responsibility, 3(2), 45–59.
  26. Patil, V., Jauhari, S., & Maheshwari, D. (2017). CSR activities and its impact on socioeconomic upliftment: An
  27. integrated review. Learning Community-An International Journal of Educational and Social Development,
  28. 8(2), 65. https://doi.org/10.5958/2231- 458X.2017.00009.4
  29. Sharma, S. K., & Tomar, A. (2013). Corporate social responsibility and sustainable development. Journal of
  30. Indian Research, 1(4), 112–114.
  31. Government Sources:
  32. Ministry of Corporate Affairs. (2014). Organiz ations A ct Notifi cation 3. Retrieved from
  33. https://www.mca.gov.in/Ministry/pdf/OrganizationsActNotification3_2014.pdf
  34. National CSR Portal. (n.d.). Corporate Social Responsibility Data. Retrieved from https://csr.gov.in
  35. United Nations. (n.d.). Sustainable Development Goals. Retrieved from https://sdgs.un.org
  36. India CSR. (n.d.). Definitions of Corporate Social Responsibility (CSR). Retrieved from
  37. https://indiacsr.in/definitions-corporate-social-responsibility-csr
Citation copied to clipboard