Law, Ethics and Spirtuality

Topics: India, Globalization, Corporation Pages: 7 (2428 words) Published: April 3, 2013
Title:- Corporate Social Responsibility: Impact of Globalization in India


Globalization is a free economy concept, which enables local manufacturers to compete at international level, which usually helps them to increase their area of transaction. But if we look into the Indian scenario, this has an adverse impact, as most of our production is done by farmers or local manufacturers, which are not as equipped as the multi-national giants outside India. This restrains them from competing in the international commodity market which subsequently lead us to cases like death of farmers due to starvation, suicide and provide India with the disability of poverty and unemployment. The paper intends from Indian corporate giants to perform their corporate social responsibility towards poor people, by promoting them and by providing them sufficient means so that they can also compete with their competitors outside India and be able to co-op with the existing system of globalization. Key words: Globalization, Poor People, Corporate Social Responsibility, International Commodity Market, Local Manufacturers

Introduction: Corporate Social Responsibility (CSR) is often referred to as Business Responsibility and an organizational response on environmental, social and economic issues. Basically it is a social regulation integrated into a business model. CSR provides a responsibility on the company’s action by encouraging a positive impact on the environmental, social, communal, consumer and stakeholder’s interest in the public sphere. In this paper the author intends to establish a relation in CSR of Indian Corporate society and the impact of Globalization in India, with specific reference to its impact on Farmers, Small scale producers, unemployed graduates etc. and the responsibility of Indian co\ponies towards them. The concept of globalization has a wide impact on the Indian economy, as in pre globalization era people used purchase goods and avail services from the local manufacturers, but know in post globalization era, corporations has increased the expectations of the people, as these multinational giants used to sell large quantity of goods at a price which is comparatively less form the Indian Markets as the producers in Indian markets produces less quantity of goods whereas the multinational corporations produce goods at a very large scale, which is turn enables them produce at very less cost in compared to Indian producers. So the concept of CSR is having a positive impact on the Indian Economy, as know people are more focused on giving back societies stake to them, and also they are creating model for the long term benefit of the society. In this paper the author would like to look into issues regarding the implication of policy of CSR and governance of the same in India. What is CSR?

Today, we live in an age in which companies, businesses and society are more connected and interactive than ever before in the past. Companies start understanding their importance to shape the countries economy. These bodies are start performing their responsibility of shaping their countries model towards development and they also realizes their responsibility of securing environment as an integral part of this society. So CSR can be termed as the foundation of relations between companies, society and nation. The Example of the of the same is the recent natural disasters to hit India, Tsunami, the devastation and misery caused by the sudden, massive inundations of the Indian Ocean touched all. The disaster took the lives of large number of people and destroyed the huge quantum of property, and to co-op with the same Indian corporate has given a huge amount of donation for the rehabilitation of the people who suffered a lot because of this disaster. What was remarkable is how quickly so much aid has been made available. This was the fund that brought tsunami...
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