Analyse Impact Of Upcoming Regulations On Indian Manufacturing Industries – BRSR Case
- IJLLR Journal
- Feb 17
- 1 min read
Ananya Chatterjee, BA LLB (Hons), Faculty of Law, Manipal University
ABSTRACT
Environmental protection in the law field is becoming a very important subject- matter to focus upon. As India is moving forward in industrialisation in line with the vison of Viksit Bharat to achieve economic growth, social progress, environmental sustainability, and good governance, it is important to keep a strong vigil on the protection of the environment for future generations. Manufacturing Industries are the one of the significant contributors to the economic growth but also the biggest source of environment pollution. To put a balance between setting and enforcement of a stringent legal framework, it is important to also ensure how to make business easy to ensure economic growth. The paper aims to understand the negative impact of environmental incidences such as the Bhopal gas Tragedy which triggered many stringent enforcements to ensure the balance and how to ensure responsible growth. It also explores what is “polluters pays” and “precautionary principle”. Through case studies we further get clarifications about what all decisions are taken by the judiciary regarding manufacturing industries for the benefit of the court. The paper also aims to cover, one such contemporary regulatory requirement BRSR (Business Responsibility and Sustainability Reporting) mandated by the Securities and Exchange Board of India (SEBI) for the top 1,000 listed companies by market capitalization, what are the challenges faced by the industries to comply with the new regulation and what can be done to overcome these challenges to ensure the aspirational growth that has been envisaged by India for Make in India vision.
