Corporate Governance and Social Responsibility in Ancient India: An Ethical and Sustainable Approach

Abstract: Corporate governance and social responsibility are fundamental to ethical and sustainable business practices in the modern world. While contemporary corporate governance frameworks emphasize transparency, accountability, and stakeholder engagement, ancient India had well-established mechanisms that governed economic and social conduct. This study explores the historical foundations of corporate governance and social responsibility in ancient India, drawing insights from key texts such as the Arthashastra, Manusmriti, and Vedic literature. It examines the role of guilds (shrenis) as self-regulating business institutions, the state's role in economic justice, and ethical trade practices rooted in dharma. Additionally, the research highlights early CSR practices, including philanthropy (dāna), labor welfare, and environmental sustainability, which continue to hold relevance in today's corporate world. By comparing ancient Indian principles with modern governance frameworks, this study demonstrates the enduring value of ethical and responsible business practices.