A STUDY ON CORPORATE SOCIAL RESPONSIBILITY (CSR) IN INDIA - ISSUES AND CHALLENGES

Abstract

CSR as an important topic of public policy has taken a crucial position in the Indian corporate landscape, as it has established a sustainable connection with society at large alongside the rising socio-regulatory pressures. The concept of social responsibility posits that an organization or individual has a duty to act in ways that benefit society as a whole. Social responsibility encompasses the obligation of every individual or organization to carry out actions that ensure a balance between economic growth and ecological sustainability. The initial mention of the term corporate social responsibility appeared in the document ‘Social Responsibilities of Business’ penned by William Bowen in 1953. In India, there has been a continual close business engagement with social issues for the purpose of national development, referred to as social duty or charitable contributions, philanthropy, and community service, now specifically labeled as CSR. foundation. The primary aim of this research is to examine the attitudes towards Corporate Social Responsibility (CSR) among the upcoming business leaders of India. In India, companies such as Tata and Nestle have been engaging in Corporate Social Responsibility (CSR) for decades, well before CSR became a well-known concept. Despite having such prominent examples, Corporate Social Responsibility (CSR) in India is currently in a very nascent stage. Numerous large corporations are conducting these Corporate Social Responsibility (CSR) initiatives superficially and showcasing these efforts in the media. This research paper revolves around finding and reviewing the issues and challenges faced by Corporate Social Responsibility (CSR) practices in India.