Corporate Social Responsibility: Entrepreneurial initiatives of Indian FMCG Industry

Neelanjali Jaiswal, Research Scholar; Amit Gautam, Assistant Professor

Neelanjali Jaiswal, Research Scholar Institute of Management Studies, Banaras Hindu University
Amit Gautam, Assistant Professor Institute of Management Studies, Banaras Hindu University

Keywords: Corporate Social Responsibility, Entrepreneurship, FMCG

Abstract

Nowadays business is not just for profit making. Rather, business houses across the globe are realizing their
stake in the society and hence they have started undertaking various CSR initiatives voluntarily. As per the
clause 135 of the Companies Act, 2013 any company having a turnover of Rs 1000 crore or more or a net
worth of Rs 500 crore or more or a net profit of Rs 5 crore or more should mandatorily spend at least 2% of
their net profits per fiscal year on various CSR activities. Presently in India, CSR initiatives are taken by
many companies. Especially, in the FMCG companies where reducing the packaging material is posing a
major challenge. Hence, these companies are working in the field of environment, community welfare,
health care, education, women's empowerment and girl child care. The present study explores the existing
literature available on Corporate Social Responsibility. The contribution of various renowned researchers
towards CSR, starting from the first definition given by Bowen (1953), has lead to the development of
existing concept of CSR. Further, the study also elaborates upon the various CSR initiatives taken by the two
leading Indian FMCG companies: Dabur India Limited and Hindustan Uniliver Limited in different areas.