Benefits of CSR activities in India

Globally, India has one of the oldest traditions of CSR. But it was seen that CSR was not actively pursued by corporates across the country. Much has been done in recent years to make Indian Entrepreneurs aware of social responsibility as an important segment of their business activity. The Companies Act got the corporates approach in line with CSR activities in India. It changed their attitude towards setting clear objectives, undertaking potential investments, measuring and reporting performance publicly in terms of CSR projects that the company undertook.

NGO’s can play an important role in a strong CSR initiative for corporates as they have evolved to become organized, structured and strategic. NGOs have the unique position of being in touch with consumers, activists and business leaders giving them a perspective on situations. This is happening more commonly than previously imagined. NGO in India are moving towards a more holistic and strategic approach to CSR initiatives. They are harnessing corporate competencies and resources that would make much more of an impact on the fulfillment of their objectives.

Role of non-profit organization: The big challenge for companies and NGOs is how to develop an approach that can truly deliver for both. How corporations embrace corporate social responsibility in 2014 is also going to be of great importance to the nonprofit organizations. These types of programs, which vastly increase the public good that corporations are doing, are vital to non profit organizations because of the great monetary and volunteer implications.

Importance of CSR activities in India: Current times don’t allow for companies to merely be in business for the sake of making revenue anymore. While consumers may rely on corporations for goods and services, the point of competition allows customers to make choices based on numerous aspects, including how much good a corporation is also doing outside of the workplace. Many individuals today are basing their corporate loyalties on how companies are positively impacting their community. CSR activities in India are in huge demand for both companies and consumers alike.

Benefits of CSR activities in India: CSR has gone through many stages in India. Corporates have clearly proven their ability to make a significant difference in the society and improve the overall quality of life through CSR. Many corporates are helming this bridge of development by inducing other business with the benefits and importance of CSR activities in India. Partnerships between companies, NGOs and the government should be facilitated so that a combination of their skills such as expertise, strategic thinking, manpower and money to initiate extensive social change will put the socio-economic development of India on a fast track. Many of the companies are helping other peoples by providing them good standard of living.