Enshringing corporate social responsibility in India and some recommendations for Vietnam

Abstract

The concept of corporate social responsibility (CSR) is becoming increasingly prevalent in most countries worldwide. However, the effectiveness of implementing CSR varies across nations due to its voluntary nature. Consequently, several governments, including India, have enacted legislation to regulate and ensure the impactful implementation of CSR by businesses. Although the process of legislating CSR in India has faced numerous controversies, this country has achieved certain milestones since the official introduction of CSR provisions in the Companies Act of 2013. Therefore, this article delves into the process of legislating CSR in India, analyses the reasons behind it and the current state of CSR legislation, and makes some recommendations for Vietnam for developing future legal frameworks for CSR.