The Study of Corporate Social Responsibilty in Indian Context

Abstract

The importance of CSR has emerged significantly in the last decade. It has assumed a new and different meaning in today's world, especially for a developing country like India , as it has extended the boundaries of the firm into society. We can realize a shift from corporate philanthropist to being socially aware and responsible. The present societal marketing concept of companies is constanty evolving and has made many big corporations realized that only government alone will not be able to succeed in its motto of improving the downtrodden society. Rather, they have realized the importance of being associated with socially relevant causes as a means of promoting their brands. CSR refers to the corporations obligation to all the stakeholders. It means mingling of social and environmental concerns in the business operations on the voluntary basis. The concept of CSR has evolved from being detrimental to a company's profitability, to being considered as somehow benefitting the company as a whole, atleast in the long-run. This concept has grown and its importance has been increased as corporations have realized the fact that the ultimate aim of any organization is not only profit-making but also to have cordial societal relationships. They have to be socially responsible in order to build trust among customers and to have good image of their brands.

 This paper tries to analyze the status of CSR in India, behaviour or attitude of companies towards various aspects of CSR and various issues and challenges that are hindering CSR activities in India.