Corporate Social Responsibility and Sustainable Development in India

Abstract

Profit is the main objective of every business corporation as no business can survive without earning profits. But business corporations bear a more significant responsibility to the society than only making profits. Business corporations use resources of society so they owe a responsibility towards society. Any corporation focused just on maximizing profits for shareholders, with little regard for societal and environmental problems, is doomed to failure in the long term is what led to the birth of CSR and sustainable development as significant concerns of business activity. Businesses can contribute to a better society by allocating a percentage of their profits to Corporate Social Responsibility (CSR) initiatives. Due to the fact that CSR initiatives address 15 of the 17 Sustainable Development Goals, they are helpful in reaching the Sustainable Development Goals. The aim of this paper is to study the concept of Corporate Social Responsibility, Sustainable Development and the contribution of Corporate Social Responsibility towards achieving the goal of Sustainable Development in India. This study is based on the secondary data.