Socially Responsible Business in India: Has the Elephant Finally Woken Up to the Tunes of International Trends?

Common Law World Review, Vol. 41, No. 4, pp. 299-321, 2012

23 Pages Posted: 16 Jun 2012 Last revised: 14 May 2013

See all articles by Surya Deva

Surya Deva

City University of Hong Kong

Date Written: June 15, 2012

Abstract

This article critically examines the two recent Indian initiatives – the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business 2011 and the Companies Bill 2011 – aimed at promoting corporate social responsibility (CSR) in India. This examination is done in comparison to similar attempts to inject CSR into corporate laws in several other countries. I also investigate whether the Indian proposals really have a distinctly Indian identity, as claimed by the government, and if Gandhi’s trusteeship theory can be employed to develop an Indian approach to CSR. I argue that an Indian (or Asian) approach to CSR may fail to work in an era where companies operate globally and the ‘core’ of what socially responsible business entails is fast becoming a commonly accepted currency at international level.

Keywords: Corporate social responsibility, Indian Companies Bill, Humanising corporate law, CSR reporting, Triple bottom line, Trusteeship theory

Suggested Citation

Deva, Surya, Socially Responsible Business in India: Has the Elephant Finally Woken Up to the Tunes of International Trends? (June 15, 2012). Common Law World Review, Vol. 41, No. 4, pp. 299-321, 2012, Available at SSRN: https://ssrn.com/abstract=2084576

Surya Deva (Contact Author)

City University of Hong Kong ( email )

School of Law
83 Tat Chee Avenue
Kowloon Tong
Hong Kong

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
151
Abstract Views
880
rank
212,305
PlumX Metrics