33 - Achieving Sustainable Development Goals in India

Summary

As the fastest growing economy in the world, India is uniquely placed to deliver on its commitments to inclusive and sustainable development and ensuring the balance among its three pillars – economic, social and environmental. Since partnerships by companies are expected in this endeavour, a need for companies to consider long-term corporate sustainability arises. In this respect, the chapter covers issues relating to corporate India’s willingness and capacity for such participation, including whether the business environment is facilitative for such participation and whether the experience to date provides reason for optimism. As there are conflicting policy objectives, it becomes imperative to take account of the governance mechanisms that affect corporate sustainability in India and highlight the seemingly unconnected issues that underpin the business environment. The chapter discusses current business practices and impacts of business operations, as well as recent legal and regulatory reforms impacting corporate sustainability.