Environmental And Social Responsibility In Indian MSME’S

Premchandra M. Dahake, Maharashtra National Law University, Nagpur

Page: 47-56

ABSTRACT

In an era marked by climate change and widening social disparities, the imperative of sustainability and sustainable development has gained prominence. While large corporations are often in the spotlight for their environmental and social responsibilities, the collective impact of Micro, Small, and Medium Enterprises (MSMEs) cannot be underestimated. These enterprises, integral to a nation's economy, are not only vital for employment generation and economic contributions but also possess a significant carbon footprint. Furthermore, given their presence in rural and remote areas, MSMEs carry important social obligations. This paper conducts a comprehensive review of the existing literature on sustainability within the context of Indian MSMEs. Drawing insights from this review, the paper identifies the impediments to and catalysts for the adoption of sustainable practices among MSMEs. Additionally, the paper analyzes survey findings regarding the outcomes of implementing sustainability measures on economic, environmental, and social performance. It synthesizes key managerial insights and practical recommendations for MSME owners/managers, governmental and regulatory bodies, and industry associations/chambers of commerce to facilitate and encourage the integration of sustainable practices. The paper closes with a discussion on potential avenues for future research in the realm of sustainability within MSMEs

Keywords: Sustainability, MSME, Social, Environmental Responsibility.