Why State Intervention is Required for Corporate Social Responsibility? An Indian Experience
Amity Journal of Corporate Governance, Vol. 4, No. 1, 2019, pp. 28-42
15 Pages Posted: 23 Jun 2022
Date Written: 2019
The paper is an attempt to address a much-debated question on the legitimacy of state intervention in Corporate Social Responsibility (CSR). At present, CSR has appeared as a topic of universal discussion. Although, the history of CSR and its origin dates back to the eighteenth century as a part of corporate philanthropy. The term CSR gained popularity since the second half of the twentieth century at the onset of the cold war and during the golden age of new social movements. Indian history has many instances of ethical and social responsibilities adopted by a few religious institutions and emperors. But, nonetheless, postcolonial India remains a mile away in achieving and accepting CSR as a part of business operations. With the Companies Act 2013, new hopes have been rekindled. The rising number of business entities brings about new challenges and new approaches towards CSR. State initiatives should not be restricted merely to legislate but opened to implementing the laws; holding continuous discussions and deliberations; and extending assistance to various other stakeholders that are the keys to success of CSR in India.
Keywords: Corporate Social Responsibility, Corporate Philanthropy, the Companies Act 2013, Indian State, State Intervention
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