Decoding Corporate Social Responsibility Practises : India’s Unique Framework

Abstract

Objectives:  The Study  aims to analyze the evolution and regulatory mandates  of CSR  in India, explore stake holder engagement dynamics, highlight leading Organisations driving sustainability and address challenges like transparency and accountability within the CSR landscape.   Methods: The study employed a descriptive and analytical method, utilizing both primary and secondary data sources.   Result: The study reveals India's diverse CSR landscape shaped by regulatory mandates, cultural values, and stakeholder expectations, showcasing a shift towards strategic initiatives addressing social and environmental challenges. While challenges like transparency and impact measurement persist, opportunities for improvement exist, emphasizing the need for integrating CSR into business strategies and fostering stakeholder engagement. Successful CSR practices underscore businesses' potential to drive inclusive growth and sustainable development while bolstering their reputation and competitiveness.   Conclusion:  India's Corporate Social Responsibility (CSR) landscape is characterized by a complex interplay of regulatory mandates, cultural values, and stakeholder engagement, all aimed at fostering inclusive growth and sustainable development. Despite notable progress driven by legislative requirements like the Companies Act 2013, challenges such as effective implementation and transparency persist. However, through enhanced accountability, regulatory reforms, and a focus on aligning CSR strategies with local needs and global sustainability goals, India can further strengthen its CSR framework. By leveraging insights from the study, policymakers, businesses, and civil society organizations can collaboratively address these challenges and unlock the full potential of CSR to drive positive societal impact and contribute to a more equitable, inclusive, and sustainable future for all.