Current Status of CSR in India: Challenges and Opportunities for Viksit Bharat @ 2047

Corporate Social Responsibility (CSR) has emerged as a transformative framework in India, evolving from philanthropic gestures to a structured and legislated mandate under the Companies Act, 2013. India became the first country in the world to mandate Corporate Social Responsibility (CSR) spending through legislative action. The Companies Act, 2013, which came into effect on April 1, 2014. The total CSR spending in India up to 2024 is estimated at approximately Rs 1.84 lakh crore, reflecting a notable increase in recent years. This plays a crucial role in driving Indian economy. This study examines the trajectory of CSR in India, its challenges, and its potential in contributing to the vision of Viksit Bharat @2047—a developed and self-reliant India. The paper explores how CSR initiatives align with national development priorities, including sustainable economic growth, environmental conservation, and social equity. Key challenges such as lack of strategic alignment, inadequate impact measurement, and regional disparities in CSR spending are critically analysed. Simultaneously, the study highlights opportunities for innovation, and the integration of CSR with India's Sustainable Development Goals (SDGs). This paper proposes strategic pathways to harness CSR's potential as a catalyst for inclusive development, thereby contributing to India's journey toward achieving Viksit Bharat by 2047.This paper aims to provide actionable insights to foster an ecosystem where CSR becomes a cornerstone of India's socio-economic transformation.