Indian Experience of CSR and Corporate Governance in the Post-liberalised Era

Published date01 December 2024
DOIhttp://doi.org/10.1177/00195561241248338
AuthorSandeep Kumar
Date01 December 2024
Indian Experience of
CSR and Corporate
Governance in the
Post-liberalised Era
Sandeep Kumar1
Abstract
Corporate governance (CG) and corporate social responsibility (CSR) have
gained considerable space in business management literature in recent times.
Both these concepts share many commonalities and overlap in the day-to-day
operational and strategic life of business organisations. The purported aim of
both CG and CSR is to ensure that corporations behave ethically and respon-
sibly and are governed strictly according to the law while interacting with and
empowering all the stakeholders. Therefore, it is important to explore the
potential commonalities and hurdles in achieving synergy between CG and CSR
in the Indian context. Indian CG serves the monopoly corporations by tweaking
the basic principle of a free market economy. It leaves workers, customers, the
environment, society and other important stakeholders in the vagaries of preda-
tory market forces. Similarly, CSR in India, like elsewhere, is used to hide the
systematic vices of the corporate sector. The unholy nexus of corporates, politi-
cians and bureaucrats is killing the essence of CG and CSR synergy. Therefore, a
strong, effective, non-partisan, transparent and independent policy-making, insti-
tutional, regulatory, accounting and audit mechanism must be implemented to
insulate all stakeholders from the tyranny of monopoly corporations. This article
uses an argumentative analytical method to conceptualise and theorise the differ-
ent aspects of CG and CSR in the Indian context.
Keywords
Corporate governance, corporate social responsibility, synergy, accountability,
neo-liberal policies
Article
Indian Journal of Public
Administration
70(4) 829–842, 2024
© 2024 IIPA
Article reuse guidelines:
in.sagepub.com/journals-permissions-india
DOI: 10.1177/00195561241248338
journals.sagepub.com/home/ipa
1 Panjab University, Chandigarh, India
Corresponding author:
Sandeep Kumar, Panjab University, Chandigarh 160014, India.
E-mail: sachin9sandy@yahoo.co.in

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