Societal well-being is a prerequisite for business prosperity. Companies who put people before profits and who care for sustainable development are the ones who will survive the competitive pressures. There are many areas where Indian companies can comply with CSR initiatives.

The difference between what we do and what we are capable of doing, would suffice to solve most of the world's problems…

The purpose of corporation is to do as much good as we can, everywhere for everybody concerned. And incidentally to make money.

Corporates in India, as anywhere else in the world are striving to improve the public image of business. It is not `dirty business' anymore. Most companies believe in being and becoming good corporate citizen. They see the value of giving back to the community that contributed to their success. Corporate Social Responsibility (CSR) is no longer mere philanthropy. Though still largely voluntary, it is seen as imperative for sustainable business.

CSR has been influenced by two major concepts—stakeholder model, wherein it is recognized that good business practice entails engaging all stakeholders in company's business. So good business is not only seen as maximizing shareholder value but also stakeholder value. The other concept is triple bottom line, where companies would no longer be judged by the conventional single i.e., financial bottom line, but also on their performance in social and environmental bottom lines. CSR can be defined as operating a business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. It is viewed as a comprehensive set of policies, practices and programs that are integrated throughout business operations and decision-making processes that are supported.

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