Corporate Social Responsibility

CORPORATE SOCIAL RESPONSIBILITY Businesses today have realised that,in order to continue thriving, they have to adopt a more holistic and inclusive business models which has a direct co-relation with business performance companies are now expected to discharge their stakeholder responsibilities and societal obligations, alongwith their shareholder-wealth maximisation goal. Even much before the issue became a global concern , India was aware of corporate social responsibility , due to the efforts of organization, such as the Tata Group. Around 66% of Tata sons, the holding roup of the Tata group, is today owned by a trust. • ITC have made farmer development a vital part of its business strategy. • Unilever using micro enterprises to augment the supply of consumer products in rural markets. • IT companies like TCS AND Wipro developed software to help teachers and children in schools across India. For eg- adult literacy software. • During a survey the findings revealed that over 90% of all major Indian org were involved in CSR initiatives.Infact, private sectors are more involved than the public sector. • The leading areas that the corporations were involved in were- livelihood promotion, education, health, environment and women’s empowerment. • Along a survey conducted by Asian governance parameters, India has ranked among the top three alongwith Singapore and hong kong, for the last eight years. Confederation of Indian Industry(CII) will provide consultancy services and technical assistance on CSR. Many large corporate houses are taking up projects. E.g. • Arcelor Mittal will spend US$500 million as part of its CSR initiatives in Jharkhand and Orissa. • Airtel will provide farmers techniques of modern agriculture.