Linking public sector corporate social responsibility with sustainable development: Lessons from India

Authors

  • Subhasis Ray Associate Professor Xavier Institute of Management (XIMB) India

Keywords:

Corporate Social Responsibility, sustainable development, emerging economy, India

Abstract

India is one of emerging economies that is expected to play a major role in the coming years. This paper explores the linkage between Corporate Social Responsibility (CSR) and sustainable development in emerging economies like India. In 2010, the Indian Government had made CSR mandatory for more than 200 public sector undertakings (PSU), asking them to spend, on an average, 2% of their net profit on community development. This was followed by a National Voluntary Guidelines (NVG) regulations related to the responsibility of Indian business. The objective of these new regulations is to use market economy to contribute to community development.  The paper looks at some of the issues that can be teased out at this early juncture of policy development and implementation; role of business in sustainable development, effectiveness of compulsory regulations in bringing SD and mechanisms required even if these new regulatory regime is to succeed. We analyze this effort by studying the policy documents and talking to managers responsible for implementing them. Based on information received and studied, four areas are identified that requires attention; engagement, institutional mechanisms, capacity building and knowledge management. We conclude by saying that using CSR to promote sustainable development can work in the long run if the policy could be further strengthened and future linkages identified and acted upon in time.

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Author Biography

Subhasis Ray, Associate Professor Xavier Institute of Management (XIMB) India

Prof Subhasis Ray is Associate Professor at Xavier Institute of Management (XIMB) India. His research and teaching interests are the intersection of sustainability, corporate social responsibility and marketing.

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Published

2013-10-28

Issue

Vol. 14 No. 6 (2013): Thematic Special Forum on Social Management

Section

Thematic Special Forum on Social Management

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