Corporate Social Responsibility-An Analysis of Challenges and Prospects in India

Razdha Parveen


The world is looking at India as it embarks on a new phase in its journey towards being a global economic powerhouse. ‘Make in India’ is the global campaign launched by the Hon’ble Prime Minister, Shri Narendra Modi, to attract Business Houses from around the world to invest and manufacture in India. In this initiative, Corporate Social Responsibility is the commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life. But In India, the CSR managers face number of challenges in managing CSR activities. Many companies assume that corporate social responsibility is a peripheral issue for their business; and customer satisfaction is more important for them. They imagine that customer satisfaction is now only about price and service, but they fail to point out on important changes that are taking place worldwide that could blow the business out of the water. The change is named as corporate social responsibility which is an opportunity for the business. It is in this backdrop that this paper attempts to analyze how corporate sector is playing its social responsibility in India, what issues and challenges are faced by companies’ managers, and what is the prospects through which they could meet their social responsibility.
Key Words: CSR; Society; Stakeholders; Issues & Challenges; and Prospects.

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