CSR Activities of Apparel and Fashion Brands: An Indian Context
摘要
Corporate social responsibility is an approach or a business initiative taken to improve societal well-being through business practice and the contribution of corporate resources. The main aim of this initiative is to achieve the welfare of the community through their social development activities. The issues related to CSR have been the subject of growing debate across social sciences, business, and management studies. Countries like China have been facing pressure to take CSR issues seriously, especially regarding environmental and labor standards. India became the first country to introduce the Companies Act 2013, which has made it obligatory for certain specified companies to grant at least 2% of their net profits to social welfare efforts. Performing CSR activities helps organizations create an optimistic influence among the public, and it promotes a healthier relationship with customers. Many Indian companies are actively indulged in CSR, among which Reliance Industries, Tata Consultancies and Services, and HDFC Bank Limited have funded around 1000 crores for this initiative. In the case of Indian apparel and fashion brands, Shopper’s Stop, Arvind Brands, Aditya Birla Retail, Raymond, and Lifestyle perform CSR activities and are committed to sustainable production practices as part of CSR. The focus areas of CSR from these organizations include education, rural transformation, human rights, marginalized groups improvement, health, sports, and development, etc. A portion of their funds for CSR activities is allocated to public welfare activities and also to government-promoted schemes. In the year 2019, the project Su. Re, i.e., Sustainable Resolution, was launched in association with the Clothing Manufacturers Association of India, IMG Reliance, and the United Nations in India. The top 16 Indian apparel brands are the signatories to the project. This project’s main motive was to establish a sustainable pathway for the fashion industry of India. Thus, CSR establishes a new way of doing business that creates value through a respectful and proactive attitude among stakeholders. In this chapter, the various CSR activities of Indian brands are to be detailed along with the scope for improvement.