Status of Corporate Social Responsibility in India: A Case of Selected Travel Agencies

Liberalisation, Privatisation and Globalization (LPG), the buzzwords in Indian economy after 1991, has created new opportunities for tourism companies and allied sectors. But it also has increased their organizational complexity giving them new responsibilities. Bringing into focus challenges as climate change, demographic shift and poverty, globalization is bringing positive as well as negative consequences. In light of this, a new way of business approach is gaining importance day by day i.e. responsible business or sustainable business.

In this context, an increasing number of companies have accepted a culture of corporate social responsibility. CSR simply means a voluntary initiative on the part of a business to contribute to a better society and a greener and cleaner environment. Therefore, it works on the premise of contributing something beneficial for the society which we all have emerged from. Companies are aware that sustainable business success and shareholder value cannot be achieved solely through maximizing short-term profits, but instead through market-oriented responsible behavior. This Research paper aims to focus on theoratical aspects of CSR as well as its practical implementation in travel industry in India.