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Changing dimension of CSR in India: legal perspectives

Student name: Mr Ashwarya Chandra Jha
Guide: Dr Vidhi Madaan Chadda
Year of completion: 2020

Abstract:

The concept of the Corporate Social Responsibility from past few years is gaining a lot of attention as after the Globalization and the Liberalization take place and the global big Corporate Companies or MNCs ‘Multi National Company’ started investing their projects in the developing nations as the various TRIPS and GATT Conventions and Treaties facilitated the trans boundaries activities related to trade practices and therefore the countries opened their door to welcome these big corporate companies. Due to this the growth of economic conditions improved and the GDPs and the economic rate of the country increased considerably. Therefore the need for the Social Responsibility by the corporate sector also required in return for the society from where it gains it finances and resources and achieved success for the development and welfare of the society. Through this research paper we will look into the evolution of the idea of the corporate social responsibility and what are the current legislation regarding the CSR in India, then we will study the challenges and problems that the CSR is facing in its implementation of welfare works in the society. Further we will observe the data’s and records and various reports related to the CSR and see where there is problem which is creating the barriers for the development. The scope of the corporate social responsibility is very vast but since the laws are new and it is facing with the drawbacks which let down the moral and the motivation. Therefore then we will try to look for alternate methods and process which will attract more volunteers and a way to create more awareness in the country so that the more number of corporate houses expend their funds for the CSR activities. Therefore there are difficulties in the practice of CSR however until and unless we try to figure out its challenges and issues the laws will remain dormant, the laws also need to evolve with the change of time and with increased problems.