Corporate social responsibility (CSR) is not a new concept in India; since Tatas and Birlas were practicing corporate social responsibility for decades and much before the emergence of globalization. In India corporates were addressing various issues in education, health, employment generation, women development and sports through their corporate social responsibility initiatives. Due to the impact of globalization the boundary of corporate social responsibility expanded and it included ethical business practice and sustainable business practice. The dominant thinking of business firms, till around the mid twentieth century, was only to earn profit for the shareholders (owners).

KEYWORDS: Corporate social responsibility, Globalization, business practice, Sustainable Development