Corporate Social Responsibility: Indian Context

Abstract

Corporate nowadays wage war on two fronts. Not only do they need to keep their investors an d shareholders happy and their profits healthy, they also need to fulfill their often-ignored role as an active player in the society. Corporate social responsibility once seen as a luxury a t best an d an afterthought at worst is changing rapidly. With economic liberalization an d globalization, the role of the State an d Business has undergone a great change. The private enterprises are set to play an increasing pivotal role in shaping the economic, political an d social agenda for the new international order. Corporate can no longer re m a in isolated from the society around them. Their responsibility towards the society is becoming integral part of the business plan. Some corporations have caught on; major groups such as the Birla Group, the Tata Group, the Jindal Group an d ITC, an d individual companies an d banks such as ICICI, have earned recognition by their support o f sustainable development, in their own ethical business practices as well as in a trickle-down effect on the community' around them. It has become imperative for corporate to be sensitive to the needs of the society an d the environment in which they operate and build an empathizing relationship for amutually sustainable existence. They should explore building relationship and partnerships with government bodies an d NGO’s to drive environmental sustainability an d a strong
civil society. The authors have tried to highlight the progresses made by Indian corporate houses in this direction.