A STUDY ON THE CORPORATE SOCIAL RESPONSIBILITY SPENDING OF TOP 15 PROFITABLE INDIAN COMPANIES

Abstract

Across the globe, there is an increasing awareness regarding the influence businesses have on the environment and society. Today, financial gains alone do not define a company’s success— social contributions are equally important. The real measure of sustainable economic development now includes evaluating how business operations affect the environment, society, and governance. CSR Asia defines Corporate Social Responsibility (CSR) as a company’s commitment to conduct its operations in a manner that is economically viable, socially responsible, and environmentally sustainable, while taking into account the interests of its diverse stakeholders. The World Business Council for Sustainable Development defines CSR as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large.” CSR ensures that businesses engage in sustainable practices that create positive outcomes for consumers, employees, communities, the general public, and the environment. It serves as a voluntary yet structured approach where companies align their operations with legal frameworks, ethical practices, and global standards. It involves respecting laws, moral values, communities, and nature. The Indian government also encourages companies to embed CSR into their mission, vision, and strategic planning. These initiatives aim at holistic societal development, including rural progress, health, sanitation, education, and promotion of sports. In India, CSR has evolved from being a mere concept to becoming a statutory obligation under the Companies Act, 2013. This legislation mandates that companies adopt CSR to foster social betterment and environmental sustainability. This project report explores the meaning of CSR, related regulations in India, its advantages, and the present CSR practices among the top 20 listed Indian companies.