In the era of liberalization and globalization, India as a country is changing rapidly. Being a developing nation, it needs to have a deep understanding of the impact of this phenomenon, has on the people and lifestyles in rural areas. To maintain a harmonious balance of social, economic and environmental concerns, a well-planned approach has to be adopted. This being of a prime challenge today, the role of the corporate sector in community development is gaining importance.
India’s corporate sector has always played a vital role by funding socio-economic causes, whereas some companies have even gone further to adopting villages and large projects. However, all these efforts are independent and isolated. These can be better promoted and implemented if efforts are jointly carried out. Joint collective efforts can evolve an integrated and consolidated approach towards rural development, involving participating in the community as well, for better execution.
This concept will help in getting good financial resources as well as managerial expertise from the corporates. The industries get involved in activities beyond their business and at the same time, the community too is drawn into the process of development and remains responsive and responsible.