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July to September 2024 Article ID: NSS10008 Impact Factor:8.05 Cite Score:21 Download: 0 DOI: https://doi.org/ View PDf
Sustainable Business Practices and Corporate Social Responsibility in the Indian Corporate Sector
Dr. Bhavna Sharma
Assistant Professor (Management) Wilsonia Degree College, Moradabad (U.P.)
Abstract: Sustainable business
practices and Corporate Social Responsibility (CSR) have become important
components of contemporary business management in India. Organizations are
increasingly expected to balance economic performance with environmental
protection, social welfare, ethical governance, and stakeholder accountability.
This paper examines how Indian companies integrate sustainability and CSR into
their business strategies, with particular attention to the influence of the
Companies Act, 2013, especially Section 135. The study adopts a descriptive and
analytical research design based on secondary data from government
publications, corporate sustainability reports, annual reports, academic
literature, and institutional databases. To strengthen the analysis, selected
primary data were also considered through a structured questionnaire
administered to corporate employees, managers, and community stakeholders. The
findings indicate that CSR and sustainability initiatives contribute to
corporate reputation, stakeholder trust, employee engagement, operational
efficiency, and long-term competitiveness. However, implementation remains
uneven because of financial limitations, inadequate monitoring systems, limited
managerial awareness, weak impact measurement, and insufficient stakeholder
participation. The study argues that CSR should not be treated merely as a
statutory expenditure or philanthropic activity but should be integrated into
corporate strategy, risk management, supply-chain governance, and performance
evaluation. The paper proposes an India-specific framework based on regulatory
compliance, strategic integration, measurable outcomes, stakeholder
participation, transparency, and continuous evaluation. It concludes that effective
integration of sustainable business practices and CSR can support inclusive
growth, strengthen corporate legitimacy, and contribute to India’s Sustainable
Development Goals.
Keywords: Sustainable Business
Practices, Corporate Social Responsibility, Indian Corporate Sector,
Sustainability, Ethical Business, Sustainable Development.
