Business Responsibility and Sustainability in India Sectoral Analysi

“This rich volume of sector studies demonstrates how the Indian business community is using the power of sustainability standards to go beyond CSR. As an academic volume, I appreciate the fact that this book does not shy away from exploring some of the co

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In association with Indian Academy of Management

Business Responsibility and Sustainability in India Sectoral Analysis of Voluntary Governance Initiatives Edited by  Bimal Arora · Pawan Budhwar · Divya Jyoti

Palgrave Studies in Indian Management

Series Editors Pawan Budhwar Aston Business School Aston University Birmingham, UK Arup Varma Quinlan School of Business Loyola University Chicago Chicago, IL, USA

Palgrave Studies in Indian Management In Association with the Indian Academy of Management Series Editors: Pawan Budhwar, Aston University, UK, and Arup Varma, Loyola University, US The Palgrave Studies in Indian Management series, in association with the Indian Academy of Management, publishes books which are designed to inform and inspire academics, practitioners, and anyone else with an interest in understanding the issues involved in management of organizations in India. Since the economic reforms began in the early 1990’s, the Indian economy has been growing at a steady pace, and the country has rightfully assumed its place among the leading economies of the world. Indian organizations are increasingly going global and setting up operations and/or acquiring organizations in different parts of the world. At the same time, multinationals from around the world have made a beeline to India to capitalize on the huge market, as well as to draw upon the highly qualified workforce. Of course, the world’s largest and most diverse democracy faces numerous challenges – from infrastructure needs, to dismantling bureaucracy, and creating systems and processes that are more investor-friendly. In 2014, the Indian electorate picked a new government with overwhelming majority, and charged it with helping the Indian economy grow faster, so that the benefits may reach a wider section of the population. The new government has been busy creating policies that are designed to foster innovation, entrepreneurship, and business leadership. Indeed, in the first year since the government assumed office, the inward flow of FDI has increased substantially, and several multinational corporations have announced setting up operations in India, in response to the Prime Minister’s “Make in India” campaign. These are very exciting and volatile times for the Indian economy, and the expectations from the corporate world - both public and private are immense. The focus of this series is on the continuous evolution and growth of the Indian economy and related management issues. Titles include: Naresh Khatri and Abhoy Ojha CRONY CAPITALISM IN INDIA Establi­ shing Robust Counteractive Institutional Frameworks More information about this series at http://www.palgrave.com/gp/series/14620

Bimal Arora  •  Pawan Budhwar Divya Jyoti Editors

Business Responsibility and Sustainability in India Sectoral Analysis of Voluntary Governance Initiatives

Editors Bimal Arora Aston Business School Aston University Birmingham, UK

Pawan Budhwar Aston Business School Aston University Birmingham, UK

Divya Jyoti Aston Business School Aston University Birming