Role of Corporate Social Responsibility in Indian Companies: An Analysis

Abstract

According to the New Company Law of 2012, all businesses are expected to donate 2% of their net income to corporate social responsibility (CSR). The goal may be achieved viamotivations of Indian businessman’s to actively pursue CSR as it mandates that a certain class of businesses use a percentage of their revenues for CSR initiatives respectively. It becomes essential for corporates to contribute back to society whenever corporates started their operation for the benefit of society and using the many resources that society provides. The CSR has grown to be an essential business-activity and has drawn significant interest from global corporation’s management. It makes easier method for corporate activities to be in line with societal ideals. The CSR is seen as the central position of several programs meant to guarantee the socio-economic advancement of the neighborhood. Moreover, Indian corporations today focus more on all stakeholders and it move beyond the idea of philanthropy or charity. The main goal of this research work is to examine the CSR policies adopted by Indian corporations especially in textile sector. Additionally, the study seeks to identify the instances in which companies achieved or fail to meet societal expectations along with suggestions taken from various stake holders for improving corporate social responsibility (CSR) policies that will beneficial for society and corporate world in the country at large scale.