Corporate Social Responsibility of Businesses in India
"The future belongs to those who understand that doing more with less is compassionate, prosperous, and enduring, and thus more intelligent, even competitive." Paul Hawken
India being a country with a rich heritage, culture and history has always had the ideas of charity and social responsibility embedded deep into the minds of the Indian society. Though India, 100 years ago was a land whose economy was predominantly controlled by agriculture, traders and merchants too had great influence on the economy. The merchant and traders enjoyed a lot of respect and in return they made sure that they treated the society with kindness by constructing night shelters, drinking water facilities and also providing relief during natural calamities. (Visser & Tolhurst, p.192) During the time when India was overrun by colonies the first glimpse of corporate social responsibility in an industry was demonstrated by a strong leaders like Jamsetji Tata and Mahatma Gandhi who believed in being socially responsible and took active interest in public life and social reforms. Jamsetji Tata set a trend by having initiatives such as labour welfare by having pension funds and compensation for workers in case of accidents. Later in the early days of 20th century the act of being socially responsible was further strengthened by Mahatma Gandhi when he came up with the theory of business and the trusteeship. Though CSR in India has been associated with some big names such as the Tatas and Birlas in the early 20th centrury, only in the recent years, people have seen an increase in the understanding of CSR by corporate companies. (Visser & Tolhurst, p.192). Economic liberization in 1991 led the Multinational corporations(MNC’s) to enter India and indulge in wide variety of businesses. This was the time when there was an influx of IT companies that opened up their operations in India. But because of...
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