Corporate social responsibility and sustainable development goals for a developed India @2047

The vision of India@2047‚ well on its way to the 100th year of independence (2047) implies a principled approach to development -a development which is developmentally sound, environmentally sustainable and equitable. This paper examines the potent interface of Corporate Social Responsibility (CSR) and the United Nations Sustainable Development Goals (SDGs) in the Indian environment. It also underscores the complementary roles of large corporations as well as Micro, Small and Medium Enterprises (MSMEs) in fostering inclusive and sustainable development. The study is designed to evaluate how CSR, as a policy and regulatory development, can work towards achieving the country’s long-term development targets, with specific reference to how the MSME sector, alongside large corporations, can help advance SDG-compliant achievements. Aim of the article is to understand status and working dimension of CSR in India, to study the SDG integrated Corporate and MSME strategies, and how these initiatives could be enhanced to meet the vision of India@2047. It discusses CSR guidelines under Sect. 135 of the Companies Act, 2013 and the lack of compulsory contribution by MSMEs as they are frequently absolved from CSR obligations but significantly contribute in local development and community participation. Based on secondary data from reports, policy papers, lists and publications, sectoral studies and sustainability reports, the study is complemented with case studies showing successful CSR practices of corporate giants and socially oriented MSMEs. A comparison between different countries of same economical, geographical and cultural with India have also been discussed empirically to provide a better insight.The results show that, despite having structured CSR approaches in large organizations, increasingly aligning them with specific SDG, MSME participation is observed through informal and need based community initiatives. This ground presence allows them to be especially well-positioned to address local problems, especially in rural and semi-urban areas. Education, skill training, health care, women empowerment and environment conservation are sectors wherein MSMEs are bringing about significant impact, working hand-in- hand with local partners and NGOs in most cases. But such impediments as inadequate funding, ignorance and nonexistence of a CSR act/ act providing guidelines on CSR policies hinder the complete utilization of MSME’s in advancing SDGs. The article posits that if India@2047 has to become a reality, CSR has to become more than just a statutory obligation for the large companies and be turned into a national movement with the participation of firms of all sizes. Governments through policy incentives and training programs need to support MSMEs to scale their social and environmental investments. Promotion on sustainability reporting, easier-green-finance access, and building collaborative platforms for knowledge sharing between corporates and MSMEs can greatly amplify the above impacts. On the whole the road to well-developed, just and sustainable India by 2047 will be in combining the strength of big and the small. An inclusive CSR policy which encompasses SDGs, uplifts MSMEs and encourages innovation is a necessity to tackle developmental challenges and ensure a robust, future-ready nation.