Corporate Social Responsibility And Sustainability Practises In Indian Companies: An Overview

Abstract

This paper gives us a contemporary look at that segment of corporations that deal with the welfare of the environment and the entire human race, known as Corporate Social Responsibility (CSR). The concept of CSR is gaining prominence in the corporate world. CSR is a tool that companies are buying like hotcakes. The notion of CSR was already embedded in developed countries but at present, even the developing nations are embracing this idea. Almost every firm present in the market is striving to implement CSR in the business to get an extra edge over their rivals. CSR is also demarcated as ‘performance with a purpose’. The standards of CSR and sustainable development are almost congruent to each other which implies that firms are obliged to take decisions not only on financial and economic segments but also pay heeds on the areas concerning the community, the society, and the environment.