Corporate Social Responsibility in India
In attempting to develop a corporate social responsibility (CSR) regime with its own national characteristics, India is rejecting the concept that CSR is solely a Western import. It is also rejecting the notions of CSR as purely voluntary and of shareholder wealth maximization. India is also increasingly privatizing its economy, creating a space for corporate action in a realm previously dominated by the state, and appears to be seizing the opportunities CSR presents to improve economic growth and address public concerns. However, questions remain about whether India’s legal changes will translate into actual changes on the ground.