CSR Practices in India.pptx

An Empirical Study of Corporate Social Responsibility
Practices in India
(with special reference to FMCG companies in India
Supervised By :
Dr. Ravi Vyas
Associate Professor
SPIPS, Indore
Presented By :
Chaudhary Saket Kumar
Research Scholar
Enrolment No.: DC/XI/Comm/20/509
Ph.D. Defense Presentation
Date-27 June 2023
Research Centre - School of Commerce
Devi Ahilya Vishwavidyalaya, Indore (M.P.)

CHAPTERISATION
Chapter 1. Introduction
Chapter 2. Profile of FMCG Companies in India
Chapter 3. Review of Literature
Chapter 4. Research Methodology
Chapter 5. Analysis and Interpretation
Chapter 6. Findings, Suggestions and Conclusions

INTRODUCTION
CSR establishes a warm relationship between business and society.
CSR has various definitions & all revolve around the relation of corporation with
society and stakeholders.
All CSR activities are composed of three basic principles-sustainability, accountability
and transparency.
CSR is the moral and practical commitment of businesses to match outcomes of their
action with societal expectations.
Continued………………

INTRODUCTION
The European Commission (2011) defines CSR as “CSR is a process in which business
units integrate social, environmental, and ethical and human rights concerns into their
core business activity.”
The WBCSD (World Business council for Sustainable Development) defines CSR as
“Corporate social responsibility is the continuing commitment by business to behave
ethically and contribute to economic development while improving the quality of the
life of the workforce and their families as well as of the local community and Society at
large”(Green Alternative Energy Assets(GAEA)).

Carroll'S Pyramid
(Source: Carroll, 2016)

Carroll'S Pyramid
There are mainly four most important dimensions of corporate social responsibility
which can be best understood by Carroll’s Pyramid.
According to Carroll's Pyramid of corporate social responsibility, firm is required to
earn profit, obey rules and regulations, follow ethics and be a better corporate citizen.
Philanthropy is the uppermost component of Carroll’s Pyramid. Philanthropy has been
used as a management instrument which is considered a central element of CSR.
Profitability is the lowest component in the pyramid.

India the first nation in the world to introduce mandatory CSR. Enactment of
legislation for mandatory CSR expenditure by the government of India was
one of the largest experiments in the world.
The country is facing several issues like poverty, malnutrition,
unemployability etc.
The government alone cannot solve these issues. Therefore the government
felt the need of support from corporate sectors to tackle these issues.
Present study is a modest attempt to investigate and analyze the various CSR
practices implemented by the companies in India.
This legislation made compulsory for all qualified companies to share the part
of their profit for the social welfare activities in India.
Mandatory CSR Law in India

Threshold Limit for Company Spending on CSR
Conditions (Threshold Limit)
1. Networth of the company = ₹ 500 Crore or More
1. Turnover of the company = ₹ 1000 Crore or More
1. Net profit of the company = ₹ 5 Crore or More
Source-National CSR Portal
Companies which qualify for CSR expenditure are required to spend a minimum two percent (2%) of
average net profits (profit before tax) immediately preceding three financial years.

FMCG Companies in India
FMCG companies are a very important part of any economy.
The companies play a crucial role in rapid growth of the economy.
These companies have the potential to provide the highest and brightest
employment opportunities.
The FMCG sector has been chosen for present study because of its features.
The FMCG sector has high turnover, excellent employment generation
capacities, quick sales, lower prices of the products etc.

Ten Selected FMCG Companies
1. Britannia Industries Limited 6. Hindustan Unilever Limited
2. Colgate-Palmolive (India) Limited 7. ITC Limited
3. Dabur India Limited 8. Marico Limited
4. Emami Limited 9. Nestle India Limited
5.Godrej Consumer Products Limited 10. P&G Hygiene and Health Care Limited

Literature review
Dimensions of CSR
Sudana et al. (2019) divided CSR dimensions into seven categories namely energy, environment,
employee, health and occupational safety, product, community and general.
Agrawal, n.d. studied & found six dimensions of CSR in FMCG companies namely customers,
employees, suppliers, shareholders, government and community.
CSR Practices
Vethirajan & Ramu, (2019) studied & found that FMCG companies should invest periodically in
CSR activities to fulfill customers’ expectations and for long lasting relationships with them.
González-Rodríguez & Díaz-Fernández (2020) investigated ‘the impact of the hotel customers’
perception and concluded that customers preferred a hotel which has a greater obligation to
environmental practices.

Literature review
Perception of Stakeholders towards CSR
Chaudary et al. (2016) studied & revealed that CSR has a positive impact on customers’ purchase
intention
Ramu & Vethirajan (2019) studied & found that FMCG Companies had proved their capabilities in
ensuring the improvement in quality of life and overall improvement of the society.
Saxena & Mishra (2017) found that students of management were highly positive about the role of
CSR in performance of the company.
Akindele (2020)studied & revealed that the perception of CSR by stakeholders and growth of fashion
industries were positively related.
Impact of CSR on Various Stakeholders
Zhang et al. (2020) explored the result showed that better quality of goods and services had positive
and direct effects on customers.
Kannaiah & Jayakumar (2018) analyzed the impact of CSR practices on consumer behavior with special
reference to FMCG companies in Tamil Nadu. The research revealed that there was significant and
positive impact of CSR practices among the FMCG consumers.

Literature review
Spending Towards Various CSR Activities
Kapoor & Dhamija (2017) concluded that companies had shown desired and favorable results in the first
year of implementation after introduction of mandatory CSR spending. In spite of lack of experience in
CSR practice, still corporate India made expenditures of 74 percent of total mandated CSR.
Verma & Vijaya Kumar (2014) examined the expenditure pattern of Indian firms towards CSR activities
before the introduction of mandatory requirements of CSR spending in 2014. The result indicated that
CSR spending by companies had been very low as a proportion of sales and profits during the voluntary
phase.
Relationship between CSR Practices and Profitability
Zakari (2017) studied the relationship between CSR investment and profitability. The findings
revealed that CSR investment and profitability were positively correlated.
Cho et al. (2019) explored the relationship between CSR performance and financial performance of
the firms. Findings revealed that partial positive correlation existed between firm value and
profitability.

Research Gap
● Large number of researches has been conducted in western countries in area of
CSR practices. In India, less number of studies has been conducted in this area.
● CSR practices by Indian corporate sectors have been either under-reported or not
well reported by the researchers.
● CSR practice in India was made mandatory for certain category of the companies
in 2014 and therefore the mandatory CSR practices are in childhood stage.
● Impact and effect of implementation of mandatory CSR practices has not been
assessed on large scale.
● Studies on perception of employees, suppliers and distributors have been ignored
by previous researchers.
● Impact of CSR practices on various stakeholders in FMCG companies has not been
measured in previous research. Limited number of researches has been
conducted on CSR practices in the Indian FMCG se
● A humble effort has been made to fill the gap and make some theoretical as well as
empirical contributions towards the CSR literature in India.

Research Objectives
1. To study key corporate social responsibility (CSR) practices by selected FMCG
companies.
2. To analyze the trend of corporate social responsibility (CSR) spending by selected
FMCG companies.
3. To study the relationship of corporate social responsibility (CSR) spending and
profitability of selected FMCG companies.
4. To study stakeholders’ perception towards corporate Social responsibility(CSR)
practices in selected FMCG companies.
5. To study impact of corporate social responsibility (CSR) practices on perception
of stakeholders.
6. To explore new scopes and opportunities for CSR activities.

Research Hypothesis
• 26 Hypothesis has been formulated to study perception of various stakeholders towards
various CSR activities by FMCG companies
• 3 Hypothesis have been formulated to study the impact of CSR activities on perceptions
of shareholders

Analysis of secondary Data
•Secondary data was collected from various published sources that include annual
sustainability reports, annual financial reports, government websites, National CSR Portal,
magazines and other online sources.
• Data on CSR spending and profitability were extracted from annual reports of all selected
FMCG companies over the period of 7 years starting from 2014-15 to 2020-21.
•Secondary data has been analyzed using Link relatives and chain based index.
•Karl Pearson correlation has been applied to find out and observe the relationship between
CSR spending and profitability.

Research Design
Basis Method Remark
Sampling method Convenient Sampling
Technique
Non-Probability Sampling
Respondents 547 responses were
considered for the purpose
of this research
600 respondents from were
approached for carrying out
the survey
Collection method Questionnaires Closed-ended questions
using 5-Point Likert Scale
Tools and techniques Index number, correlation
test reliability , normality
test, one-way ANOVA and
independent sample t-test,
SNK-Test
SPSS and MS-Excel have
been used as statistical
tools for data analysis

key CSR practices by selected FMCG companies
1 Britannia Industries
Limited
Working on the Issues of malnutrition since 2009.
Various CSR activities in the area of community
development, health, nutrition and environment.
2 Colgate-Palmolive
(India) Limited
Local community, healthcare, education, women
empowerment and environment.
3 Dabur India Limited
Company
CSR initiatives for eradication of hunger, malnutrition &
poverty, promotion of health care, environmental
sustainability, education and women empowerment.
4 Emami Limited Health Care, education, skill development, women
empowerment and social upliftment.
5 Godrej Consumer
Products Limited
Capacity building of rural youths and promotion of
education, rural development, reduction in hunger &
poverty, resolving gender issues etc.

key CSR practices by selected FMCG companies
6 Hindustan Unilever Limited Health, hygiene & nutrition, environmental sustainability,
water conservation, rural development, skill development
and education.
7 ITC Limited Eradication of hunger & poverty, promotion of education,
empowering women & promotion of gender equality,
promoting health, ensuring environmental sustainability,
and empowering farmers’ knowledge.
8 Marico Limited Improvement in social enterprises, community
development, and innovation in education, healthcare,
livelihood enhancement.
9 Nestle India Limited Nutrition, rural development and water sanitation.
10 P&G Hygiene and Health
Care Limited
Environmental sustainability, supporting education in
Himalayan belt, remedial learning, and education of girls in
marginalized society, children education in rural areas,
building various schools and supporting various
underprivileged communities through its projects.

Trends of CSR Spending
Trends CSR expenditure over last seven years from 2014-15 to 2020-
21.
All ten selected FMCG companies have been taken into consideration.
Overall CSR spending is showing an increasing trend over seven years
in Britannia, Colgate, Dabur, Hindustan Unilever, & ITC Ltd.
Non-uniform trends in CSR spending for Emami ,Godrej,Marico and
Nestle India Ltd, P&G Hygiene and Health Care Limited

Relationship of CSR and Profitability
Company Name Karl Pearson Correlation R-Square Value
Britannia 0.923 0.852
Colgate Palmolive 0.958 0.918
Dabur India 0.955 0.912
Emami 0.050 0.03
Godrej 0.525 0.276
HUL 0.980 0.960
ITC 0.835 0.697
Marico 0.835 0.697
Nestle 0.714 0.510
P&G 0.950 0.903

Relationship of CSR and Profitability
There is more than 90% of correlation between CSR and profitability in case of
Britannia, Colgate, Dabur, Hindustan Unilever, and P&G and more than 70%
correlation in case of ITC, Marico & Nestle India Ltd.
It means there is high degree of correlation between CSR & profitability in these
companies.
There is moderate correlation in remaining two companies i.e. Emami & Godrej
Consumers Products Ltd.
Conclusion can be drawn that Profit after Tax (PAT) and Actual CSR are highly
related.PAT and CSR spending of P&G Hygiene and Health Care Limited Hindustan
Unilever Limited have increased over the years but at low rate of growth. These two
are showing strong positive correlation.

Reliability Statistics (Perception of Stakeholders)
Reliability Statistics
Cronbach's Alpha N of Items
0.951 19

Stakeholders’ Perception towards CSR Practices in India
(Source-Generated by author using primary data with help of SPSS tool)
The normality test uses a 95% confidence level along with a
significance degree of 5%.
The mean value at 82.3410 with standard error at 0.98194,
median value at 82, and variance at 376.040.
This is acceptable. The standard deviation is 19.39176, which is
good.

Test for Social & Community Welfare activities w.r.t. Category of Stakeholders
ANOVA
Between Social & Community Welfare and Category
Social & Community Welfare
Sum of
Squares
Df Mean Square F Sig.
Between
Groups
164.699 2 82.350 102.633 0.000
Within
Groups
436.489 544 0.802
Total 601.188 546

SNK Test for Social & Community Welfare and Category of Stakeholders
Social & Community Welfare
Student-Newman-Keulsa,b
Category N Subset for alpha = 0.05
1 2
Customers and Common
Public
390 3.48
Suppliers and
Distributors
47 4.64
Employee 110 4.72
Sig. 1.000 0.548
Means for groups in homogeneous subsets are displayed.
a. Uses Harmonic Mean Sample Size = 91.098.
b. The group sizes are unequal. The harmonic mean of the group sizes is used. Type I error levels are not
guaranteed.

Summary of Hypothesis Results
(Perceptions of stakeholders towards CSR practices)
Hypothesis Test
Observed
Findings
H01– There is no significant difference in perception of community at
large towards social and community welfare activities of selected
FMCG companies with respect to category of stakeholders.
ANOVA H01 is failed to
be accepted
large towards environmental sustainability activities of selected FMCG
companies with respect to category of stakeholders.
be accepted
large towards educational activities of selected FMCG companies with
respect to category of stakeholders.
be accepted
large towards health activities of selected FMCG companies with
respect to category of stakeholders.
be accepted
H0 5– There is no significant difference in perception of community at
large towards women issues in selected FMCG companies with respect
to category of stakeholders.
be accepted

Hypothesis Test Observed Findings
H06– There is no significant difference in perception of
community at large towards specially abled (divyang) issues
in selected FMCG companies with respect to category of
stakeholders.
ANOVA H01 is failed to be
accepted
community at large towards rural development in selected
FMCG companies with respect to category of stakeholders.
accepted
H0 8– There is no significant difference in perception of
community at large towards farmer issues in selected FMCG
companies with respect to category of stakeholders.
accepted
community at large towards development of overall
corporate image in selected FMCG companies with respect
to category of stakeholders.
accepted

S. No. Hypothesis Test Observed Findings
10 H010– There is no significant difference in perception of
various stakeholders towards social and community
welfare activities in selected FMCG companies with
respect to region
ANOVA H01 is failed
to be
rejected
11 H011 – There is no significant difference in perception of
various stakeholders towards environmental
sustainability in selected FMCG companies with respect to
region
ANOVA H01 is failed
to be
rejected
various stakeholders towards education in selected FMCG
companies with respect to region
ANOVA H01 is failed
to be
accepted
various stakeholders towards health in selected FMCG
companies with respect to region
ANOVA H01 is failed
to be
accepted

14 H014– There is no significant difference in
perception of various stakeholders towards
women issues in selected FMCG companies with
respect to region
be rejected
15 H015 – There is no significant difference in
specially abled/divyang issues in selected FMCG
companies with respect to different regions
be rejected
rural development in selected FMCG companies
with respect to region
be rejected
farmer issues in selected FMCG companies with
respect to region
be accepted

education in selected FMCG companies with
respect to age of stakeholders.
be accepted
health in selected FMCG companies with respect
to age of stakeholders
be accepted

20 H020 – There is no significant difference in perception
of community at large towards education in selected
FMCG companies with respect to income of
stakeholders
rejected
of community at large towards health in selected FMCG
companies with respect to income of stakeholders
accepted
of community at large towards specially abled/divyang
issues in selected FMCG companies with respect to
income of stakeholders
rejected
of community at large towards rural development in
selected FMCG companies with respect to income of
stakeholders
rejected

perception of community at large towards
education in selected FMCG companies with
respect to education of stakeholders
be accepted
rural development in selected FMCG
companies with respect to education of
stakeholders
be accepted

women issues in selected FMCG companies with
respect to gender of stakeholders0
Independent
Samples t-test
H01 is failed to
be accepted

Summary of Hypothesis Results (Impact of CSR practices
towards perception of stakeholders)
S.
No.
Hypothesis Test Observed Findings
1 H01– There is no significant impact of CSR
practices by selected FMCG companies on
perception of customers and common public
towards community and social welfare activities.
Linear
Regression
H01 is failed to be accepted
practices on perception of employees working in
selected FMCG companies towards development
of corporate image and branding.
Linear
Regression
practices on perception of suppliers and
distributors of selected FMCG companies towards
development of corporate and brand image.
Linear
Regression

Exploring New Scopes and Opportunities for CSR Practices
Companies need to build and maintain a good relationship with all its stakeholders in the changing and
challenging environment.
The companies need to take advantage of demographic dividends by becoming pro-active and provide skill
training through CSR initiatives.
It will result in skilled workforce and would improve the corporate image of the companies in long term.
Through PPP (Public Private Partnership) model, companies and government can work together as a part of
CSR initiatives. The government will get benefit from corporate partnership though sharing the load of
public services.

Findings and Observations
•The key areas for CSR practices by most of FMCG companies are common and include eradication
of hunger, malnutrition & poverty, promotion of health care, environmental sustainability,
education, women empowerment, rural development, community development, skill enhancement.
•CSR spending has been taken seriously and companies are taking various CSR initiatives in
underprivileged communities. Most companies are working in areas of education and health by
implementing various CSR projects.
•62.15% of the respondents agree that companies contribute towards social and community
welfare activities.
•60.51% of stakeholders accepts the fact that FMCG companies are engaged in improving the
general well-being of the society and 55.39% of the respondents in the present study are agree that
FMCG companies are showing their concerns towards the local community

•61.79% of the stakeholders feel that the company in which they are associated is socially responsible
and 64.71% of them think that the FMCG companies are working on strategies to solve environmental
issues.
•58.68% of the respondents believe that FMCG companies are working for improving the education
through their CSR initiatives.
•57.22% of the total stakeholders agree that FMCG companies are working to improve the health
issues in the country.
•Further, 57.95% of the respondents agree that the selected FMCG companies spent more to fight the
Covind-19 pandemic.
•61.60% of the respondents feel that the companies are working seriously for women related issues.

•56.12% of the respondents believe that FMCG companies are making many efforts to empower
specially abled people.
•55.94 of the stakeholders agree that FMCG companies are working for rural development and 54.11%
of the respondents agree they are working for sustainable development of farmers and their
empowerment.
•69.28% of the respondents agree that doing more CSR activity will generate higher value of goodwill
for companies and 71.66% of the respondents agree that doing more CSR activities lead to higher
reliability and credibility among the customers.
•78.42% of the stakeholders believe that CSR activity helps in business growth.
•66.66% of the customers and common public feel that the FMCG companies are reliable.

•97.27% of the employees agree that they are getting reasonable salary and reward
from companies.
•93.6% of the employees feel that companies are concerned for their health and safety.
•94.5% of the employees agree that companies are giving high priority to their well
being.
•93.61% of the suppliers and distributors believe that companies are treating them
fairly. 97.87% of the suppliers and distributors agree that companies are maintaining a
warm relationship with them and feel that companies are maintaining transparent
payment systems.
•93.61% of the suppliers and distributors believe that companies are adopting best
practices for them.93.61% of suppliers and distributors agree that the company
provides them a reasonable payment system.

•There is a significant difference in the perception of various stakeholders towards social and
community welfare activities of the selected FMCG companies.
•Customers and the common public perceive things differently than suppliers and employees.CSR
towards employees is internal CSR. Customers have little knowledge about internal CSR.
•Perceptions of various stakeholders towards CSR practices in the area of environmental
sustainability differ from each other.
•Customers have different opinions than suppliers, distributors and employees.
•Educational activities of selected FMCG companies are perceived differently by different
categories of stakeholders. Customers and the common public have different opinions than other
stakeholders.

•There is a significant difference in the perception of the community at large towards health
activities of selected FMCG companies. Employees and suppliers are more positive towards
CSR activities in the area of health with respect to customers and the common public.
•Customers and the common public have different opinions towards specially abled issues
than employees and suppliers.
•There is a significant difference in the perception of the community at large towards CSR
activity in the area of rural development. Common public perceives rural development
activities differently than employees and suppliers.
•Farmers’ issues are perceived by the community at large in different ways. Customers and
the common public expect more initiatives for the farmers. Employees and suppliers have the
knowledge about the companies’ CSR activities in the area of development of farmers.

•There is a significant difference in the perception of stakeholders in different income groups
towards health activity in selected FMCG companies. Health is very important for all individuals.
There, the community at large expected more initiatives in the area of health.
•Perception of all stakeholders having different education levels differs towards CSR practices in the
area of education. Stakeholders having lower education level perceived positively towards CSR
practices in the area of education. Generally companies take various initiatives in the area of
education at primary level.
•Men and female stakeholders have different perceptions towards CSR activities in the area of
women issues. It can be concluded that female stakeholders expect more CSR initiative towards
empowerment of women.

•Findings of the present study reveal that stakeholders have been positively impacted by CSR
practices of selected FMCG companies to a larger extent.
•Stakeholders believe that they have been benefited from mandatory CSR spending by the
companies. However they expect more CSR initiatives from the companies.
•Consumers and the common public are positively perceived by CSR practices; still they expect the
companies to work more towards the society through implementation of CSR policies.
•It can also be concluded from the study that the community at large from all regions of India
perceives positively and in the same way towards social and community welfare, environmental
sustainability, women issues, differently abled (Divyang), and rural development.

Suggestions
•Research on mandatory CSR practices is still in its infant stage and more study needs to be done in a
number of directions.
•Further research may include an assessment of CSR initiatives undertaken by companies. Cost and
benefit analysis of CSR practices are recommended to future researchers.
•Future study can be carried out by taking all the stakeholders. In this study, only three categories of
stakeholders have been including groups such as academics, civil society organizations,
governments, industry as well as trade associations, shareholders and other financial communities.
•Comparative study on CSR practices before and after 2014 (year of implementation of mandated
CSR) can be done for each and every industry separately. Industry-wise comparisons of CSR practices
may be done.
•Future research should increase the sample size by including more companies from various sectors.
Present study includes only ten selected FMCG companies. Number of companies can be increased by
future researchers. Increasing sample size in a study leads to more accurate findings.

Suggestions
•The study can be conducted by taking a large sample size of primary data for CSR practices over
pan India basis. Generalization of results can be done only when study is based on large size of
samples. Large sample size reduces the errors and provides significant and more reliable results.
•Detailed study can be made by including all important CSR activities in India. It will be useful to
identify all the significant CSR initiatives.
• The researcher needs to explore more the link between CSR and profitability. It is important to find
out the relationship as well as effect of CSR spending on profitability. Empirical study is needed for
the assessment of impact of CSR spending on financial performance of the company. It is also
important to investigate whether profitability of the company affects the level of CSR expenditure.
•More studies are required to identify the purchase behavior of FMCG consumers towards the CSR
practices of the company. It is very important to study whether CSR initiatives enhance customer
loyalty and customer satisfaction.

Suggestions
•Employees are the backbone of any organization. Success and failure depends on the employees of
the company. Research can be undertaken to investigate the importance of CSR in employees’
engagements.
•Case study is suggested to measure the impact of CSR practices in the surrounding community of the
companies. Case study method is useful for in-depth understanding the benefit of CSR initiatives.
•Government should form an independent body to assess the CSR practices done by the companies. It
will also provide a common platform for researchers to study trends and patterns of CSR practices by
the companies.
•It is suggested to the companies that they should assess the CSR practices on the basis of the cost-
benefit analysis. They should do so to see if the community is getting benefit in the same proportion to
CSR spending. The companies should monitor the implementation and outcome of CSR initiatives.

Suggestions
•Comprehensive study can be made to investigate the link between corporate social responsibility
and sustainable development goals.
•Government should ensure a strict penalty for those companies which are not spending prescribed
amounts of CSR. Government should also offer tax exemption on CSR expenditure.CSR reporting by
companies should be made more transparent.
•Management of companies needs to take CSR more seriously so that the real motive of
implementation of mandatory CSR can be achieved.
•Companies should not use CSR as a marketing tactic. They should follow fair, honest, accountable
and respectful CSR practice. Companies must integrate CSR practices into their core strategies.

Conclusion
•The study indicates that CSR has the ability to bring positive social and economic impact on the
community.
•All the stakeholders are in agreement on the positive result of CSR spending by companies on
various activities. Review of many literatures suggests that CSR has been able to maintain
customers’ loyalty towards the companies.
•The study observed various critical areas in which CSR initiatives have been taken by the selected
FMCG companies.
•It was also observed that the perception of the community towards CSR practices of the
companies is positive. Common public perceives the CSR initiatives in various areas in a positive
way.
•Impact of CSR practices on perception of stakeholders are positive and they feel that companies
are taking steps towards community and social welfare and working to enhance overall corporate
image and branding.
•There is a deficit of coordination among the companies, governments, NGOs and academics.
Therefore, it becomes very difficult to develop a suitable CSR policy. Implementation and
assessment of CSR policy is required at government level.

Conclusion
•Corporate social responsibility plays a significant role along with the government for the welfare
of the society. It has an important role to play in overall holistic development of the company of
the country.
•CSR can transform society in a better place. It is very important for the companies to match CSR
practices as per the societal expectations.
•CSR is a continuous process and requires high commitment, constant monitoring and continuous
assessment.
•It helps the corporate sector to become socially, economically and environmentally accountable
to itself, stakeholders and the common public.

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