EMPOWERING COMMUNITIES: A STUDY OF CORPORATE SOCIAL RESPONSIBILITY IN INDIA AND ITS IMPACT ON SOCIAL AND ENVIRONMENTAL DEVELOPMENT

Abstract

During my 9th and 10th grades, from March 2020 to December 2021, I witnessed the extensive impact of COVID-19 on all aspects of life. Seeing how businesses shut down and individuals and communities were impacted, I realized that I wanted to pursue business, but with a specific focus on the role business can play in the community. Although I had always been interested in business and entrepreneurship, this period solidified my decision. I searched for opportunities to study or intern in companies during my summer holidays, but due to the pandemic, these possibilities did not exist. Instead, I followed the news, which was dominated by growing COVID-19 numbers, vaccinations, and mainly the human aspect. I saw how people were struggling with their jobs, taking care of their families, and adapting to several new realities of life. However, what impressed me the most was how the Indian corporate sector, including Indian companies of all sizes and multinationals in India, went the extra mile to help people who had lost their jobs or were facing hardships within their families. I realized that these activities fell within the scope of Corporate Social Responsibility (CSR), which companies regularly do. I also witnessed my mother working in community-building initiatives even before the pandemic. I realized that CSR is a crucial aspect of business, particularly in India, and that I wanted to explore it further. My research paper focuses on CSR, its types, scope, the top 10 companies in India by CSR spends. It also features case studies of two large Indian corporations that I admire for their diversity, namely ITC and TCS, as well as Cosmo First, with which I was personally involved in CSR.