Published Paper Details:

CSR borrows its hypothesis from the hypothesis that corporates are part of society and are therefore required, as part of their moral obligation, to help the poor, preserve nature, and use natural resources. This was a principle from ancient Vedic Indian culture where co-habiting with nature was valued. It is important to redefine economic development at this juncture in a manner so as to consider environmental degradation and resource exploitation as unfavourable factors while computing GDP/GNP so that it is made sustainable for future generations.Paradox is being faced by India--there is rapid economic growth along with problems like corruption, poverty, and illiteracy. The economy of India is dependent upon SMEs since they provide employment to 40% of the population, 45% of manufacturing, and 40% of exports. Their influence and involvement in CSR are, however, minimal. Smaller-scale enterprises are mostly interested in internal CSR, while medium and higher-order small-scale enterprises exercise internal as well as external CSR, usually through donation. Most of them do not have a lot of money to spend, and CSR is more about personal ethics than corporate performance. Education and healthcare are the best-supported causes.Key issues are financial limitations, absence of government and local authority backing. Yet CSR benefits like enhanced company reputation and social reputation. For enhancing CSR by SMEs, government, industry organizations, and NGOs will need to come together to increase awareness and encourage collective CSR initiatives at industrial clusters or sectors.