Revisiting Corporate Social Responsibility in India: Implementing Vedantic Foundation for Sustainable Business Practices

Abstract

A Holistically Ethical organization is the need for every Economy as it not only works for itself but is also dedicated to the Nation’s Outperformance in the form of Gross Domestic Product and Sustainable Development. Due to the rise in awareness towards People, Planet and Profit, it is of immense significance for organizations to act socially, environmentally and organizationally ethically. Shedding light upon it, this study analyses the unification of Vedantic values, specifically dharma (ethical duty) and karma (right action), within Corporate Social Responsibility (CSR) frameworks in India. With CSR acquiring global significance, Indian companies require approaches that align the company with the country’s Ethical and Cultural inheritance. Through a qualitative methodology, the study applies hermeneutic analysis to comprehend selected Vedantic texts in regard to CSR. The study also undertakes Case Studies of leading India Corporations, including Tata Group, HDFC and Infosys, to demonstrate pragmatic applications of Dharma and Karma in Corporate Governance, Sustainability Practices and Community Engagements. The research findings suggest that Vedantic values offer a deeper, culturally more profound and relevant approach to CSR, hence resulting in healthy community relationships, employee satisfaction, and sustainable results. This Vedantic CSR Approach reduces the gap between regulatory compliance with ethical practice, embracing a value-driven, socially responsible model for Indian businesses. The study aims to contribute a novel approach to CSR literature by integrating India’s spiritual heritage, providing a unique yet sustainably effective alternative to Western-centric models.