CORPORATE SOCIAL RESPONSIBILITY IN MICRO SMALL AND MEDIUM INDUSTRIES

Abstract

    Small and Medium Enterprises is considered as the backbone of Indian Economy.  It is considered as a vibrant and dynamic sector and is treated as the “engine of growth” in the country.  This sector plays a vital role in resolving chronic problem of poverty, inequality, under employment and unemployment.  Industries are increasingly being judged not just by the products and profits they make, but also by the ways in which these profits are made.  CSR is gaining momentum worldwide as companiies begin to realize that their stakeholder’s interests.  The Micro Small and Medium Enterprises in India are focusing on improving their social and environmental responsibility by paying attention to issues of CSR.  This paper describes the concept of CSR in MSMEs and how it is implemented.  It analyses the limits of investments, its importance in MSMEs and its various dimensions.  It highlights the challenges of MSMEs in the area of CSR and also suggestions to overcome those challenges.