Corporate Social Responsibility in India: The Signs of a Promising Future

Abstract

This chapter attempts to analyze the future of CSR in India considering its growth and historical perspectives. As such, a major portion of the discussion in this chapter is dedicated to the study of the evolution of social responsibility of the business sector in India identifying its major era of growth, characteristics, and outcomes. The chapter shows that the nature and extent of corporate involvement in social responsibility have evolved with the history of changes in economic and cultural dimensions of the society. It highlights the major features of the Indian Companies Act of 2013, which redefines the concept and encourages private sector–NGO partnerships in carrying out CSR activities analyzing at the end some implications of the act on CSR activities in India. The chapter concludes that the deep-rooted values and beliefs in Indian culture have played a major role in influencing public governance and its outcomes as manifested in the Indian Companies Act of 2013, and in shaping the businessmen’s’ orientation toward society and are likely to remain influential in formalizing and institutionalizing CSR practices in India.