India's Journey with Corporate Social Responsibility-What Next?

This paper critically analyzes Section 135 of India's Companies Act, 2013, which mandates corporate social responsibility (CSR) contributions. It examines the historical roots of CSR in India, including Hindu, Buddhist, Islamic, and Gandhian philosophies. The author argues that Section 135 risks transforming CSR into corporate altruism, detaching it from core business principles. Furthermore, it critiques the provision for making directors accountable to shareholders for social responsibilities, suggesting societal representation would be more appropriate. The paper also notes the existence of other laws already mandating corporate social considerations.