International Journal For Multidisciplinary Research

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Empowering MSMEs Through Corporate Social Responsibility: Opportunities and Challenges in India

Author(s) ABDUL KADIR
Country India
Abstract Micro, Small, and Medium Enterprises (MSMEs) constitute a significant segment of India's economy, playing a pivotal role in job creation, innovation, and economic growth. With the increasing emphasis on corporate social responsibility (CSR) globally, there is growing recognition of the potential for MSMEs to contribute to sustainable development through responsible business practices. This abstract explores the opportunities and challenges faced by MSMEs in India in engaging with CSR initiatives and the potential benefits for both businesses and society. While MSMEs stand to gain from enhanced brand reputation, access to finance, and market differentiation through CSR, they also encounter challenges such as resource constraints, lack of awareness, regulatory compliance burdens, and stakeholder engagement complexities. By addressing these challenges through innovative approaches, collaborative partnerships, and supportive policy frameworks, MSMEs can harness the power of CSR to drive inclusive growth, social impact, and environmental sustainability. This abstract highlight the importance of leveraging the unique strengths and opportunities of MSMEs in India to advance the CSR agenda and foster a culture of responsible entrepreneurship in the country's business landscape.
Keywords Corporate Social Responsibility (CSR), Micro, Small, and Medium Enterprises (MSMEs) and Sustainable Development.
Field Mathematics > Economy / Commerce
Published In Volume 6, Issue 3, May-June 2024
Published On 2024-06-10
Cite This Empowering MSMEs Through Corporate Social Responsibility: Opportunities and Challenges in India - ABDUL KADIR - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.22132
DOI https://doi.org/10.36948/ijfmr.2024.v06i03.22132
Short DOI https://doi.org/gtzjnn
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