Evolution for CSR in India

India being a land of ethics has the richest tradition of CSR as compared to other countries. It has made CSR an essential part of the business curriculum but yet in needs to be spread more widely across the nation.  This goal can only be achieved if company’s adoptee productive measures, have clear objectives and undertake potential investments.

As CSR has been an old concept, we have 4 phases of CSR in India as per the historical data analysed on CSR.

In the initial phase of CSR Charity and philanthropy were the main key points of CSR measures. In 18^th century influential merchant’s use to built temples and distribute food for those who couldn’t afford it.  Also big firm holds like TATA, Birla in 19^th century took this forward without having any self interest.

Second phase of CSR came in action at the time of independence. Our country was facing stress and Indian Industrialists also were asked to demonstrate their dedication towards the progress of the society. At this point Mahatma Gandhi introduced a notion of “trusteeship”, according to which the industrialists had to manage their wealth in order to benefit the common man. Gandhi represented India industries as the temple of modern India and they built educational institutions to take the country forward.

In the third phase of CSR which accursed after independence, impacted the Mixed economy badly.  Private sector in the country was given a backseat and the major control of economic and social development was forwarded in the hands of the public sector. The public sector undertaking ensured that the necessary resources are distributed equally among the entire population.

Current phase of CSR in India which began in 1980’s changed the traditional CSR approach towards development. In introduction of globalization and economic liberalisation gave an excellent boast to the Indian economy.  It helped India firms to grow rapidly and also made them meet the compliance set as per the international standards.