Corporate Social Responsibility recently has assumed a great significance and many corporate houses are voluntarily involved in the assumption of corporate social responsibility. Many top business leaders are generously contributing to the development of the society. This has become a universal phenomenon and fund raising activities for social cause are carried out by the business leaders around the world. In India, most of the companies are voluntarily creating an environment for the upliftment of the members of the society. In spite of the efforts of both Government and business sector programmes relating to development of socially excluded group have not achieved much success. At the same time business lacks necessary skills required in the social development. So therefore it has to associate either with the Government sector or the Third sector. The government sector with its rigid bureaucratic structure, interference of political leaders and rampant corruption have not able to reach to vast majority sections of the population. The third sector has shown that without any kind of pressure it can reach to vast majority sections of the society and implement programmes relating to development of socially excluded group effectively.  The present study therefore finds out possible collaboration between the corporate and third sector for socially excluded group in the society. The objective of the study is twofold: - (i) To discuss the need for and possibility of third sector-corporate collaboration for the development of socially excluded group in India and (ii) To suggest the means of improving the conditions of socially excluded group through the collaboration between business  and third sector. This study examined the role of third sector in the effective utilization of vast business resources in furthering the social development. The study found that there is a great need for collaboration between resource rich business enterprises and immense network capabilities of third sector. The study brought out the ways in which the business can partner with third sector. It can be concluded that for the effective implementation of corporate social responsibility programme, business needs the support of third sector in furthering the development of socially excluded group of society.

KEY WORDS: Corporate social Responsibility (CSR), Third Sector, Socially excluded group. Inclusive Growth.