CORPORATE SOCIAL RESPONSIBILITY IN INDIA: FROM COMPLIANCE, TO IMPACT

The concept of CSR in India has taken a drastic turn with Section 135 of the Companies Act, 2013, which made CSR expenditure mandatory for companies that are eligible to spend the same. This has led to more companies contributing to social development, but compliance does not always lead to meaningful impact in society. This article contends that successful CSR is not only reliant on legal requirements but also managerial strategic foresight. Based on management theories, regulatory developments and business practices, it examines the difference between compliance-oriented and value-oriented CSR, and finally it concludes that the sustainable social outcomes can be achieved only when businesses transcend the requirement of compliance and start to integrate CSR into the corporate governance and business strategy.